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Financial status and reporting

Financial status and reporting. DaHar project 2nd PCT meeting 08. 03. 2012. Ennshafen. Content. Programme requirements Decommitment Financial status Financial monitoring of the project Reporting Conclusion. Programme requirements.

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Financial status and reporting

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  1. Financial status and reporting DaHar project 2nd PCT meeting 08. 03. 2012. Ennshafen

  2. Content Programme requirements Decommitment Financial status Financial monitoring of the project Reporting Conclusion

  3. Programme requirements • project spendingforecast is fixed in Article 4.12 of the Subsidy Contract • in case of underspending the MA is entitled to decommit the project by reducing the original project budget and the corresponding ERDF contribution Reducedbudget decreased < > same tasks

  4. Financial status The project is close to the end of its first year and to the mid-term of the implementation: • 1st reporting period: • 1 April – 31May 2011 • 2nd reporting period: • 1 June – 30November 2011 • 3rd reporting period: • 1 December 2011 – 31May 2012

  5. Financial status – 1. reporting period

  6. Financial status – 2. reporting period

  7. Financial status – 1-2. reporting period

  8. Financial status – 3. reporting period

  9. Financial status – 1-2-3. reporting period

  10. Financial monitoring • Inordertoavoidunderspending and potentialdecommitment: TIMELY IMPLEMENTATION ”=”to be in line withthespendingforecast Implementationplan

  11. Financial monitoring Timely implementation: • Carry out activities in time &pay in time • Learn to report! • Please, inform the LP/us: • Bi-monthly reporting • Budget modification needs BUT: • Partner change (possible risk >managed by LP) • External experts costs (possible risk > to be managed by all PPs)

  12. Financial monitoring – Bi-monthly reports • Paid and forecasted costs for periods of 2 months/WP/budget line • Regular: deviations can be identified and thus handled in time • Please, don’t forget to… • Fill in date of invoice and date of payment - so that we can check whether the costs are eligible • Add a short description of the activity linked to each cost (e.g. 3.1. SoA study) –> this is also a tool to inform the LP regularly on the status of the activities • Fill in both the PAID and FORECAST columns

  13. Reporting Status of the 2nd progress report: • 2 DVE’s were not received in time (Hungarian PPs: LP, PP6) >> postponement of the submission deadline: 7 March • Report submitted on 6 March

  14. Reporting – 1 -2 periods – Partner reports Only 44% of planned costs was reported and even less – 34% – has been validated by the NCs

  15. Feedbacks on partner reports: to be improved • Partner reports not received in time (15 days after the end of the reporting period) • Not enough time for potential clarification • What if DVE needs to be modified? >> respect deadlines (submit partner report to the LP same time when submitting it to the NCB - 15 days after the end of the period )

  16. Feedbacks on partner reports: to be improved • Not enough information about the activities carried out (e.g.: activities carried out in line with the AF) • Doesn’t allow the LP to monitor implementation • No information about partner level implementation >> give as much details as possible

  17. Feedbacks on partner reports: to be improved • Costs included in wrong WPs • Might lead to deviations in the spending forecast • If so, DVE has to be changed >> check the budget (in which activity was the given costs planned?) and report the costs accordingly (e.g.: SC participatin at the Launching Event in WP1)

  18. Feedbacks on partner reports: to be improved • Not enough information regarding deviations • How to justify the delays/underspending? >> give information about: what is the deviation? what is the reason? what is the effect of it? how do you plan to catch up?

  19. Feedbacks on partner reports: to be improved • Ouputs are not indicated correctly • Indicators are not filled in >> check the AF and implementation plan (what was planned for the given period?) >> possibly give information about the reported number (e.g. in accompanying e-mail)

  20. Reporting deadlines

  21. Conclusions • Carry out tasks according to the plans and pay invoices in time >> 31 May is the end of the 3rd period!!! (only 3 months left) • Be familiar with programme and national regulations • Check AF, implementation plan, budget regularly • Submit the Partner reports to the NC and LP in time: 15 days after the end of the period • Be in regular contact with the NC and provide clarifications also in time • Contact us, we might be able to help!

  22. Do you have any questions?

  23. Thank you for your attention! Czinger.erzsebet@hbhe.hu Terpak.monika@hbhe.hu HitesyBartuczHollaiEuroconsultingKft. H-1124-Budapest, Németvölgyiút 114

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