This document presents an update of actual expenditures for the ten months to 31 October 2016 against the approved budget for 2016. It is based on actual expenditures relating to activities of the Board and the Secretariat for the period 1 January to 31 October 2016 and estimated expenditures for the interim trustee.

For the ten-month period of 1 January to 31 October 2016, total expenditures on the Board and the Secretariat as well as estimated expenditures for the services of the Interim Trustee amounted to USD 19.1 million or 53% against a budget of USD 36.1 million.

This document explains the drivers for a number of areas with a relatively low rate of spending and provides an assessment of anticipated progress against each by the end of the year.