Financial reporting
Elise Oukka, Head of Finance, FMO
5.3.2013 Riga
Programme Operator (PO)
responsibilities
• Programme implementation agreement, the
Regulation and in particular article 4.7
• These include e.g. verification of the declared
expenditure, payments, monitoring, drawing up and
submitting the financial reports, measures to prevent
irregularities
Financial reporting
Fixed reporting periods covering four calendar months
every year
 1 January – 30 April
 1 May – 31 August
 1 September – 31 December
Fixed deadline for reporting and fixed payment dates
(reports by the CA to the FMO)
 15 March for payments to be made 15 April
 15 July for payments to be made 15 August
 15 November for payments to be made 15 December
Financial reporting chart
Financial flow
FMC /
NMFA
FMO
Donor
programme
partners
National
Focal Point
Small grant
scheme
operator
Certifying
Authority
Programme
Operators
Project
Promoters
Programmes operated by the
FMO
Suppliers
& Partners
Management and control systems –
national level
Financial control at national level
• Responsibility of the Certifying Authority
• Certification of expenditure declared by POs
• Exception: programmes operated by the FMO or a DS entity
Certification of financial reports
• Part of interim financial report and final programme report
• Certification procedure and method to be designed by CA
Eligible expenditure of a programme
• Expenditure incurred directly by the PO (programme
management, bilateral funds at programme level, etc.)
• Re-granting: payments to projects from the PO, and not
expenditure incurred by project promoters
Management and control systems –
national level
Management and control functions of the NFP
• Overall responsibility for reaching the objectives of the FMs
• Monitor progress and quality of implementation of
programmes
• Progress towards programme outcomes and objectives
• Fulfilment of publicity requirements
• Signing programme implementation agreements with POs
Management and control functions of the AA
• Audits on effective functioning of management and control
systems both at national and PO level
• Project audits based on an appropriate sample
• Annual audit report and opinion
• Closure declaration
Management and control systems –
programme level
Setting up management and control systems
• Responsibility of the Programme Operator
• Within six months from the submission of the first IFR
• Collecting applications, selecting projects, signing project
contracts
• Verification of project outputs and project expenditure
• Ensuring payments to projects
• Verification of compliance with the Regulation, the
programme agreement, applicable national law and EU law
• Reporting to the FMO / NFP / CA / Irregularities authority
• Information and publicity
Interim Financial Report
• To be reported:
 Actual expenditure incurred (use of funds received previously)
 Proposed expenditure for the next period (future cash needs)
• Pre-financing requests reviewed by FMO and cross-checked
against previous requests and reported incurred expenditure
•
Interim financial reports and final financial report are
submitted by the PO to the CA, who certifies the reports
before submitting them to the FMO
Financial reporting
• Small amount retained from each claim, released at
programme completion
• FMO can withhold payments in case of delayed or
incomplete reporting
• DoRIS as a reporting tool, the required verifications are to
be done outside the system (in line with the management &
control system descriptions)
THANK YOU!
www.eeagrants.org
www.norwaygrants.org