{"id":2531,"date":"2021-05-21T07:57:17","date_gmt":"2021-05-21T05:56:18","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2020\/?page_id=2531"},"modified":"2025-06-04T11:15:26","modified_gmt":"2025-06-04T09:15:26","slug":"note-7-2","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2024\/annual-report\/notes\/note-7-2\/","title":{"rendered":"Note 7 – Other operating expenses"},"content":{"rendered":"
\n\t\t\t\t\n\t\t\t\t\t

Note 7<\/h4>\n\t\t\t\t\t

Other operating expenses<\/h3>\n\t\t\t\t<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/a>
  1. Accounting policies<\/a><\/li>\n
  2. Segment information<\/a><\/li>\n
  3. Exited investments<\/a><\/li>\n
  4. Realized losses and value changes<\/a><\/li>\n
  5. Personnel and pension costs<\/a><\/li>\n
  6. Fixed assets<\/a><\/li>\n
  7. Other operating expenses<\/a><\/li>\n
  8. Net financial items<\/a><\/li>\n
  9. Taxes<\/a><\/li>\n
  10. Equity<\/a><\/li>\n
  11. Other receivables<\/a><\/li>\n
  12. Investments<\/a><\/li>\n
  13. Liquidity placements<\/a><\/li>\n
  14. Bank deposits<\/a><\/li>\n
  15. Unused resources<\/a><\/li>\n
  16. Current liabilities and guarantees<\/a><\/li>\n
  17. Risk management and use of financial instruments<\/a><\/li>\n
  18. Events after balance-sheet date<\/a><\/li>\n<\/ol><\/div><\/div><\/div><\/div>\n\n
    Other operating expenses<\/th><\/tr>
    (Figures in 1000s of NOK)<\/th>2024<\/th>2023<\/th><\/tr><\/thead>
    Seminars, conferences, upgrading of competencies<\/td>9,305<\/td>8,372<\/td><\/tr>
    Travel expenses<\/td>23,748<\/td>24,799<\/td><\/tr>
    External assistance, projects<\/td>73,121<\/td>53,590<\/td><\/tr>
    External assistance, other<\/td>23,265<\/td>18,376<\/td><\/tr>
    Rent, Oslo, including joint expenses<\/td>13,434<\/td>11,411<\/td><\/tr>
    Rent regional offices<\/td>4,940<\/td>5,043<\/td><\/tr>
    Other expenses<\/td>30,377<\/td>31,151<\/td><\/tr>
    Total operating expenses<\/td>178,190<\/td>152,742<\/td><\/tr><\/tbody><\/table><\/div><\/div>\n\n
    (in 1000s of NOK)<\/th>Original operating expenses 2023<\/th>Reclassified 2023<\/th>Recast operating expenses 2023<\/th><\/tr><\/thead>
    Provision for losses on receivables (reclassified to \u201cValue changes investments and receivables\u201d)\t<\/td>1,199<\/td>-1,199<\/td>0<\/td><\/tr>
    Other operating expenses from liquidity placements<\/td>0<\/td>6,044<\/td>6,044<\/td><\/tr>
    Other operating expenses<\/td>146,698<\/td>0<\/td>146,698<\/td><\/tr>
    Total operating expenses<\/td>147,897<\/td>4,845<\/td>152,742<\/td><\/tr><\/tbody><\/table><\/div><\/div>\n\n\n

    In 2024 Norfund decided to reclassify the effects on results of liquidity placements from the financial to the operating results. These include service costs, defined in the table above as \u201cOther operating expenses from liquidity placements\u201d. Norfund also decided to classify the provision for losses on receivables from operating expenses to \u201cValue changes investments and receivables\u201d.<\/p>\n\n\n

    Premises<\/th><\/tr>
    Primary rental contracts<\/th>Lease period<\/th>Annual rental costs<\/th><\/tr><\/thead>
    Premises at Fridtjof Nansens Plass 4, Oslo<\/td>15.11.16 – 31.12.2026<\/td>7,144,632<\/td><\/tr>
    Premises 4th floor Klingenberggaten 4<\/td>1.6.23 – 31.12.2027<\/td>3,045,292<\/td><\/tr><\/tbody>

    In addition there are lease contracts for our regional offices.<\/p>\n<\/td><\/tr><\/tfoot><\/table><\/div><\/div>\n\n

    Auditor's fee<\/th><\/tr>
    (Figures in 1000s of NOK)<\/th>2024<\/th>2023<\/th><\/tr><\/thead>
    Statutory audit<\/td>1,641<\/td>1,373<\/td><\/tr>
    Other services (including legal services)<\/td>928<\/td>541<\/td><\/tr>
    Total<\/td>2,569<\/td>1,914<\/td><\/tr><\/tbody>

    Auditor’s fee is inclusive of VAT.
    \nIn addition, business partners of Deloitte AS in other countries delivered other services expensed in the amount of NOK 0.9 million (NOK 1.6 million. in 2023) excl. VAT.<\/p>\n<\/td><\/tr><\/tfoot><\/table><\/div><\/div>","protected":false},"excerpt":{"rendered":"

    In 2024 Norfund decided to reclassify the effects on results of liquidity placements from the financial to the operating results. These include service costs, defined in the table above as \u201cOther operating expenses from liquidity placements\u201d. Norfund also decided to classify the provision for losses on receivables from operating expenses to \u201cValue changes investments and […]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":2101,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"","norfund_header_layout_image_id":0,"norfund_header_layout_image_focal_point_x":0,"norfund_header_layout_image_focal_point_y":0,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"Notes","teft_cards_image_id":0,"teft_cards_image_focal_point_x":0,"teft_cards_image_focal_point_y":0,"teft_cards_title":"","teft_cards_excerpt":""},"acf":[],"yoast_head":"\nNote 7 - Other operating expenses | Annual Report 2024<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2024\/annual-report\/notes\/note-7-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Note 7 - Other operating expenses | Annual Report 2024\" \/>\n<meta property=\"og:description\" content=\"In 2024 Norfund decided to reclassify the effects on results of liquidity placements from the financial to the operating results. 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