2.5 Designated reserves Self Statutory Specific Major insurance meetings projects works Total CHF 000s CHF 000s CHF 000s CHF 000s CHF 000s 2022 Balance at 1 January 2,111
1,681
14,000
715
18,507
Used during the year
-
( 1,414)
( 2,500)
-
( 3,914)
Allocations during the year
217
900
4,200
343
5,660
Balance at 31 December 2,328
1,167
15,700
1,058
20,253
2021 Balance at 1 January 1,998
866
14,400
372
17,636
Used during the year
( 50)
( 85)
( 14,400)
-
( 14,535)
Allocations during the year
163
900
14,000
343
15,406
Balance at 31 December 2,111
1,681
14,000
715
18,507
Designated reserves are funds set aside for specific purposes including self-insurance, statutory meetings, specific projects
and major building works. The IFRC may transfer these funds back to unrestricted reserves. Designated reserves include
the following:
Self-insurance reserve The IFRC self-insures its vehicles against collision, loss or other damage. Based on an assessment of risk exposure, this
reserve is established to meet approved insurance claims as they fall due.
Statutory meetings reserve Funds are set aside to meet the anticipated costs of future statutory meetings and Governing Board initiatives as and when
the events take place.
Financials
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