unliquidated obligations for 1955 for the Office for Project Services. Our overall analysis showed savings against 1965 unliquidated obligations of approximately 34 per cent, We examined the reasons for such savings and discussed the issue with the appropriate officials of the Office. 87. In general, the Administration agreed with the points made by the Board. However, it considered that the figure of 34 per cent savings against prior years’ obligations, which had been delivered from a computer-assisted exercise at the year-en8 to lapse all outstanding 1905 obligations, did not take the following factors into account: In accordance with UNDP accounting procedures, the balMc8S of 1985 obligations were reviewed individually and, where valid, re-established. In addition, since some 1959 inter-office vouchers were only processed in early 1990, before the closure of the 1989 accounts, but subsequent to the above exercise, those expenditures reported therein which related to 1966 wore charged directly to the 1959 accounts. 88. It war also noted that savings arose because travel authorizatfons were still recorded, although the travel had subsequently been cancelled. The Administration agreed with the observation and will nnsure that the originating offices in the Office for Project Services cancel the travel authorisations in a timely manner. 89. Obligations in respect of equipment purchases are generally liquidated on receipt of the related equipment and payment voucher. However, in certain fn.stances, the field offices do not indicate the appropriate obligation number on the payment voucher, so that, instead of a reversal of the obligation taking place -31- when payment is posted, the expenditure is reaoraed twice. This, however, is aorreoted at year-en8 when the unused obligations are reverse& The reversal is then shown as a saving, although rather than being a saving, it is really a oorreotion of expenses reooraea twioe. Further, in 1999, owing to time 
**Analysis**
The text appears to be discussing financial management and accounting procedures within an organization, specifically the Office for Project Services. The language used is technical and focused on the specifics of obligation management, payment vouchers, and accounting procedures. This suggests that the text is related to administrative or management aspects of a project, rather than a specific sector or field of development.

**Category**
Administration, Finance