The Board directs the MEFA Committee in its December 2003 meeting to finalize its review and recommendations of the 2004 budget, including comments made by the Board and to bring its final recommendation to the Board at its next meeting in 2004.
The Board authorizes the Secretariat to continue to operate with the ceiling of the 2003 budget until the 2004 budget can be adopted by the Board. During this interim period, in the event the Secretariat must incur specific expenses not included in the 2003 budget (e.g. Partnership forum venue costs), it shall do so with the understanding that the expense will be covered within the finally adopted 2004 budget. The Secretariat will present a report of its first quarter expenses to the Board in March.
The Board directs the MEFA Committee to finalize the review of the budget for 2005 and report to the Board for their decision in 2004.