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 2023 and 2022.
Notes
Secretariat: the cost of the people who carry out the day-to-day running of SBP.
Strategy projects: the costs associated with the three-year work plan (2023-25) in support of SBP’s strategic objectives.
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.
IT software: the costs associated with licences for the use of multiple software products, including running and developing the DTS and Audit Portal, and licences for the use of various software platforms.
Board and governance: the costs arising from running SBP’s multistakeholder governance system.
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: represents bank charges, bad debts, and foreign exchange gains/losses. In 2022, the costs were predominantly bad debts arising from uncollected fees, following the termination of certificates in Russia and Belarus.
