2013 discharge: Agency for the Cooperation of Energy Regulators (ACER)

Having examined the revenue and expenditure accounts for the financial year 2013 and the balance sheet at 31 December 2013 of the Agency for the Cooperation of Energy Regulators (ACER), as well as the Court of Auditors' report on the annual accounts of the Agency for the financial year 2013, accompanied by the Agency's replies to the Court's observations, the Council recommends the European Parliament to give a discharge to the Director of the Agency in respect of the implementation of the budget for the financial year 2013.

Overall, the Council welcomes the Court's opinion that, in all material respects, the Agency's annual accounts present fairly the financial position as at 31 December 2013 and the results of its operations and its cash flows for the year then ended, in accordance with the provisions of the Agency's Financial Regulation, and that the underlying transactions for 2013 are legal and regular.

Nevertheless, some observations have been made by the Council. They are summarised as follows:

• financial programming: the Council calls on the Agency to continue improving its financial programming and monitoring of the budget implementation in order to reduce the level of commitments carried over to the next financial year to the strict minimum;
• treasury: the Council regrets that the weaknesses in the management of the Agency's treasury were again found by the Court leading to excessive cash balances. It welcomes the corrective action taken with the cash forecasting tool introduced in 2014 and urges the Agency to monitor closely its cash requirements and cash flows in order to avoid high cash balances.