increase thenumberofcorepostsby50,andindicated theirbeliefthatmostof thesepostsshouldbeinfieldoffices. Thesecretariat wasalsourgedtoincrease theproportion ofNational Professional staff. Thesecretariat pointed outthat therearenow13fewercorepostsinheadquarters thantherewerein1984. 47.Onedelegation commended UNICEF onitssuccess inraising thenumberofwomen inprofessional posts, andexpressed thewishtoseetheorganization maintain this trenduntilgenderneutrality wasachieved. (Seechap.IV,decision 1990/31 for therecommendation oftheCommittee asadopted bytheExecutive Board.) X.GREETING CARDOPERATION 48.TheCommittee considered thefollowing: (a)TheGreeting CardOperation (GCO)financial reportforthe1988-1989 season (E/ICEF/1990/AB/L.5); (b)TheGCOprovisional report onthe1989season (E/ICEF/1990/AB/L.4); (c)TheGCO1990workplan(E/ICEF/1990/AB/L.6). 49.Thisagendaitemwasintroduced bytheDirector ofGCO,whoinformed theBoard thatthelatestfigures onthe1989campaign indicated thatvolume, revenues and netprofit wouldbeevenhigherthanthoseannounced intheprovisional reportof -81-the1989season. Over150million cardshadbeensold,andforthefirsttime, grossproceeds hadexceeded $100million andtheconsolidated netprofit had exceeded $60million. 50.Several delegations notedthatMr.EjgilChristensen wouldbeleaving hispost asDirector ofGCOaftermanyyears, andpaidtribute tohimforhissignificant contributions tothesuccess ofGCO. 51.Delegations congratulated theGCOstaff,National Committees forUNICEF and othersalespartners onthegoodresults, whichhadmadefutureprojections obsolete. Itwasnotedthattheimprovements inprofitability hadtakenGCOvery closetothe50percentnetoperating profitobjective, atargetthatone delegation notedhadbeencalledunachievable inthepast.Delegations agreedthat ifthe50percentobjective weremet,UNICEF wouldenhanceitscredibility with thepublic. Onedelegation hopedthatthe50percentprofitobjective wasnot dependent onreducing the25percentretention rateallowed toNational Committees. 52.Whilealldelegations endorsed theGCOworkplanandproposed budgetfor1990, theyraised anumberofissues. Somedelegations saidthatGCOshould bemore closely integrated withUNICEFfinancial andadministrative procedures. One delegation wasoftheopinion thattheAdvisory Committee onAdministrative and Budgetary Questions should comment ontheGCObudget, theSpecial Events andNew Initiatives operating account andthecreation ofproject posts. Otherdelegations saidtheexisting special rulesandregulations forGCOreporting should be maintained, since GCOheldauniqueposition intheUnitedNations system and neededflexibility because ofitsentrepreneurial nature. 53.Questions werealsoraisedaboutthenewGCOmandate intheareaofspecial events andnewinitiatives. Twodelegations requested further information onthe control procedures governing thespecial operating account. Onedelegation noted thelowercost/benefit ratiothatapplied toactivities intheareasofprivate sectorfund-raising andspecial events, andquestioned thestaffstructure forthis operation. Another delegation expressed support fortheestablishment ofthe Special Events andNewInitiatives Unitwithin GCO,aswellasforthecreation of thespecial operating account. ItwasnotedthatthisUnithadalready assisted National Committees inplanning forspecial events. 54.Onedelegation notedthesubstantially increased greeting cardsalesinher country andurged GCOtofurther diversify itsdesignselection procedures and decentralize production inordertotakeadvantage ofthelargemarkets and efficient production facilities inhercountry. 55.ThenewGCOresponsible forexhibits andpromotion wasquestioned byone delegation, anditwasunderlined thatthisnewresponsibility shouldnothave financial implications forGCO. 56.GCOwascommended ontheclarity andtransparency ofitsreporting tothe Executive Board. However, onedelegation requested moreinformation onfield officecosts. 57.Inresponding totheCommittee, theGCODirector explained thatthespecial operating account fornewinitiatives wasunderthecontrol oftheExecutive Director andsubject toreview bytheauditors andtheAdvisory Committee. Funds wouldbedrawnonlywhenthecostsofaneventwerefullyguaranteed byexpected income. -82-58.TheGCODirector statedthatGCOhadusedtheoptionofcreating project posts ratherthancorepostsinordertogiveitmoreflexibility inspecial programmes,
**Analysis**
This text appears to be discussing the financial and administrative aspects of a specific program within the United Nations Children's Fund (UNICEF), specifically the Greeting Card Operation (GCO). The text highlights financial reports, profit margins, and budget planning, suggesting that it is more focused on economic and financial matters than on humanitarian aid, education, or other social development areas.

**Category**
Economic development, Industry