Resolution on the financial statements of the European Coal and Steel Community at 31 December 1997 and on the 1997 annual report of the Court of Auditors on the ECSC, together with the Commission's replies
3. 7. 1999 EN Official Journal of the European Communities L 168/29 on the financial statements of the European Coal and Steel Community at 31 December 1997 and on the 1997 annual report of the Court of Auditors on the ECSC, together with the Commission’s replies RESOLUTION THE EUROPEAN PARLIAMENT,  Having regard to the ECSC financial statements for the 1997 financial year, submitted by the Commission (1), and in particular the balance sheet and profit and loss accounts of the ECSC at 31 December 1997,  Having regard to the report of the Court of Auditors on the financial statements of the ECSC at 31 December 1997 (2) and the 1997 annual report of the Court of Auditors on the ECSC, together with the Commission’s replies (C4-0055/99) (3),  Having regard to the report of the Committee on Budgetary Control (A4-0132/99), A. Whereas the Court of Auditors concludes that the financial statements of the ECSC at 31 December 1997 give an accurate picture of the assets, of the financial situation and of the results of its operations for the financial year ending on the same date; B. Whereas the Court of Auditors states that the legality and regularity of the transactions, on the whole, are adequately guaranteed and proposes a positive statement of assurance; C. Whereas in the run up to the expiry of the Treaty of Paris in the year 2002 as the activities of the ECSC are steadily being wound down, its solvency ratio reached 28,3 % at the end of 1997, a step closer to its stated target of 100 % in 2002, partly due to an increase in the Guarantee Fund and a decrease in the volume of outstanding loans; D. Whereas preparations are under way to ensure that upon expiry of the Treaty in 2002, the revenue from outstanding reserves will be used for a research fund for sectors related to the coal and steel industries; 1. Notes the comments of the Court of Auditors and the reply of the Commission and is pleased that the report of the former contains no criticism and that a positive statement of assurance has been proposed; 2. Observers that as the ECSC approaches its 50 year milestone of 2002, the Commission continues to manage it in a financially prudent manner, retains experienced staff and devotes adequate resources to ensure that quality control is maintained until the end; 3. Notes the statement of the Court of Auditors that the solvency ratio of the ECSC should be monitored up to and beyond the expiry date of the Treaty of Paris, thereby ensuring that remaining borrowings can be serviced; 4. Understands that the strategy for disposing of ECSC buildings around the world is being implemented, with the completion of the transfer of the Washington building in 1997 and calls for the transfer of buildings in Canberra, Lisbon, Windhoek and Milan to be concluded shortly; 5. Considers that issues which were of concern in past years such as lending to Eurotunnel, ECSC finance to the Danish ‘Great Belt', compliance with conditions laid down for interest- rate subsidies aimed at job creation and the effectiveness of reporting and monitoring arrangements connected with global loans, have been addressed in the interim period. (1) OJ C 255, 13. 8. 1998, p. 3. (2) OJ C 255, 13. 8. 1998, p. 28. (3) OJ C 352, 18. 11. 1998, p. 1