Financial information
SBP is a not-for-profit organisation, with the intention to break even over the financial year. Should any profit be generated, those monies will be re-invested into the organisation.
The table below gives a breakdown of the total expenditure in 2021 and 2020.
Notes
Secretariat: the cost of the people who carry out the day-to-day running of SBP.
Board and governance: the costs arising from running SBP’s multi-stakeholder governance system.
Consultants and services: the costs of consultants engaged to carry out specific project work and multiple service providers for functions including accountancy, payroll, secretarial services, accreditation, assurance, and legal advice.
Strategy projects: the costs associated with the three-year work plan (2020-22) in support of SBP’s strategic objectives.
IT software: the costs associated with licences for the use of multiple software products, including running and developing the DTS and the Audit Portal.
Travel, subsistence and meetings: the travel-related costs that arise from the day-to-day running of SBP, running working groups, attending industry events and engaging with stakeholders.
Depreciation and amortisation: the cost of SBP’s tangible assets and software development spread over the lifetime of each asset.
Finance costs: predominantly the cost of bad debts arising from uncollected fees, following the termination of certificates in Russia and Belarus.
