Financial Regulations of the Special Account

1. Creation of a Special Account

1.1 In accordance with Article 6, paragraph 6, of the Financial Regulations of UNESCO, there is hereby created a Special Account for the UNESCO Avicenna Prize for Ethics in Science, hereafter referred to as the Special Account.

1.2 The following regulations shall govern the operation of the Special Account.


2. Financial period

The financial period shall correspond to that of UNESCO.


3. Purpose

The purpose of the Special Account is to hold funds contributed towards the monetary value and the costs of administering the UNESCO Avicenna Prize for Ethics in Science.


4. Income

The income of the Special Account shall consist of:
(a) voluntary contributions from States, international agencies and organizations, as well as other entities;
(b) such amounts provided from the regular budget of the Organization as might be determined by the General Conference;
(c) such subventions, endowments, gifts and bequests as are allocated to it for purposes consistent with the object of the Special Account;
(d) miscellaneous income, including any interest earned on the investments referred to in Article 7 below.


5. Expenditure

The Special Account shall be debited with the expenditure relating to its purpose as described in Article 3 above, including administrative expenses specifically relating to it.


6. Accounts

6.1 The UNESCO Comptroller shall maintain such accounting records as are necessary.
6.2 Any unused balance at the end of a financial period shall be carried forward to the following financial period.
6.3 The accounts of the Special Account shall be presented for audit to the External Auditor of UNESCO, together with the other accounts of the Organization.
6.4 Contributions in kind shall be recorded outside the Special Account.


7. Investments

7.1 The Director-General may make short-term investments of sums standing to the credit of the Special Account.
7.2 Interest earned on these investments shall be credited to the Special Account.


8. Closure of the Special Account

The Director-General shall decide upon the closure of the Special Account at such time as he deems that its operation is no longer necessary and inform the Executive Board accordingly. The Director-General shall decide about the use of any unspent balance of funds.


9. General provision

Unless otherwise provided in these Regulations, the Special Account shall be administered in accordance with the Financial Regulations of UNESCO.

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