Finance

Good finance management at Matís

Much work is placed on good financial operation at Matís. Each month we have detailed financial statements that are presented to the board of Matís.

Preparatory operational budget assessments for every financial year begins in mid-September. The operational budget is then reviewed by Matís' directors before it is submitted to the Board.

Matís‘ total revenues have grown steadily since Matís‘ establishment in 2007. The bulk of Matís‘ revenues comes from foreign sources, 37% in 2016 (est). The service provided through a contract with the ministry of fisheries and agriculture was still a major factor in Matís‘ budget as in 2016 (est.) approximately 25% of the total income represents this contract with the ministry. The roles of Matís is considered of great importance when it comes to monitoring food, for example, through analysis of food samples collected by local food and health authorities in Iceland. Domestic funds are also important in the income of Matís. Additionally, there are domestic companies and other domestic public identities that are important in Matís operation.

Matís turnover 2007-2016Tekjur_2007_2016

The largest expenses, excluding salaries and salary related expenses, include office- and administrative expenses, expenses related to projects and housing expenses.

Matís is in good cooperation with the Icelandic National Audit Office, who are responsible for auditing the annual financial statement. In recent years, the review from the National Audit Office has been without suggestions for improvement.