10 Amounts receivable are recorded at the same time as revenue is recognized. Any amounts due at a future date are recorded as "not yet due".
20 A billing event generated through the WHO Oracle Grants Accounting (OGA) module is the trigger for revenue recognition in GSM. The Department of Finance Income and Awards Management Unit (IAM) establishes billing events in GSM. Where amounts are due at future dates, payment terms are recorded in GSM. A billing event will also create a receivable.
30 Receivables are recorded centrally and tracked through the accounts receivable (AR) sub-ledger. The unit managing the implemention of the contribution (the Award Responsible Organization and/or Award Manager, discussed in section IV.3.4.10) must track the status of receivables and ensure the receipt of the contribution.
40 The Comptroller may make a provision for uncollected contributions. As a general rule, provisions of 100% shall be made for assessed contributions for those Member States that fall into arrears in the payment of their contributions to an extent that would justify invoking Article 7 of the Constitution. Programmes that spend against uncollected voluntary contributions are responsible for funding the provision.
50 Foreign currency (non-US dollar) receivables over USD 1 million are hedged to protect against currency fluctuations so that the US dollar value of the contribution will not be revised after the initial recording of the award. For large foreign currency receivables (over USD 5 million), the Award Manager and/or Donor will be consulted to inform them of the consequences of hedging for example that there will be no gains, or losses, arising on the recording of the receipts against the contributions that are received in subsequent periods.
