What we spend and how we spend it

This section gives financial information about ECGD expenditure.  

ECGD is not an “Exchequer Department” in the sense that such a Department receives money from the Treasury and expends it for statutory or other purposes. ECGD charges for the services it provides to exporters and investors and the principal set of its financial objectives can be paraphrased, broadly , as being to break-even and cover both its administrative costs and such payments as it may make under the contracts which it enters into.  

ECGD expenditure therefore falls into two sharply differentiated categories: administrative expenditure, such as on the one hand salaries and payments to contractors for services in order to enable ECGD to carry out its business; and, on the other hand, payments (less recoveries) which ECGD makes under the contracts, such as insurance policies and guarantees, which it is its business to enter into.

Under section 7 of the EIGA, ECGD publishes annually in retrospect the Annual Review and Resource Accounts. This publication is available without cost and it gives information on, amongst other things, responsible Ministers, the Accounting Officer and Members of Management Board.  It also gives:

• the whole of the Accounts for the year in question, audited by the NAO and external auditors, including ECGD’s:
  
  - Operating Statement
  
  - Statement of Parliamentary Supply
  
  - Performance against Departmental Strategic Objective
  
  
• a Report on the year’s activities
  
  
• a Remuneration Report
  
  
• a Management Commentary on the “Five-Year Summary”
  
  
• Forewords by the Secretary of State, the Chairman of the Management Board and the Accounting Officer
  
  
• a list of guarantees and insurance policies issued
  
  
• a Business Overview
  
  
• a commentary on experience of the Freedom of Information Act with comparison to the previous year
  
  
• details of International Developments; and
  
  
• a section on Sustainable Development.

In addition to that Annual Report, ECGD gives, in this section of this Publication Scheme, links to, or details of, further information, being:

• An Annual Financial Report compiled in retrospect: providing budget and variance figures: the first such to be provided, by link to this scheme, after closure of financial year 2008/9 on 31st March 2009.
  
  
• A note on ECGD’s pay and grading structure. (PDF 16 KB)
  
  
• A list of contracts (PDF 17 KB) awarded in the last three years which are significant enough to have been the subject of a competitive tender.
  
  

Information about expenses paid to the Ministers referred to in the section entitled 'Who we are and what we do' can be found on the Cabinet Office website.