DRAFT COMMISSION BUDGETS 2025/2026 to 2028/2029

The Rev.1 contains updates derived from the audit for 2023/2024 provided in Circular 012-2025 and in NPFC-2025-FAC07-IP01.
The differences are presented in strikethrough (strikethrough) for deleted text/numbers and track changes (track changes) for the insertions.
Some additional edits were made to the statement of income and expenditure to more easily allow for comparisons and show the derivation of the surplus.
The accounts receivable was updated, with payments being made by Japan and Russia (in part) in February.
With no investment plan in place for the NPFC pension scheme, the plan to provide the employer payment to the staff member is noted in the budget document. This does not