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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

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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

Managementand 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

Managementand 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)