Finances

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.

Good finance management at 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 service provided through a contract with the ministry of fisheries and agriculture was still a major factor in Matís‘ budget as in 2017 (est.) approximately 26% of the total income represents this contract with the ministry.

TENGILIÐUR / CONTACT

    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. Finally, a large portion of Matís‘ revenues comes from foreign sources, 30% in 2017 (est).

    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.