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Financial reporting

Seminar for Beneficiaries 20 - 2 1 February 2012 Narva , Estonia. Financial reporting. Beneficiary Seminar. Joint Technical Secretariat. Expenditure verification report. Payment option 1 ( grant < 300 000 EUR and implementation period < 18 month )

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Financial reporting

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  1. Seminar for Beneficiaries 20-21 February 2012 Narva, Estonia Financialreporting BeneficiarySeminar Joint Technical Secretariat

  2. Expenditureverificationreport Paymentoption 1 (grant < 300 000 EUR andimplementationperiod < 18 month) EVR isneededonlywhensubmittingthefinalreport NB!RequestofpaymentmustbeaccompaniedbythenarrativeandfinancialreportandlistofexpenditurespreparedbytheBeneficiary (use JTS preparedtemplate) Paymentoption 2 (grant > 300 000 EUR orimplementationperiod > 18 month) EVR mustbesubmittedwitheveryrequestforpaymentandwiththefinalreport. 2

  3. Financialreporting GrantContractSpecialConditions Art.7.3.3. “In case, where no expenditure verification report is required the Beneficiary has to provide a list of the financial and supporting documents covering the respective period and a printout of the project account showing project's income and expenditure and payments received in the period of the current Interim Report.” 3

  4. Financialreport Financialreportis a partofInterimreporttemplateandincludes: Sheet X “Expenditures” Sheet XI “Sourcesoffunding” Sheet XII “Interest” Sheet XIII “Revenue” Formispre-filledaccording to latestFullApplicationForm 4

  5. Expenditures Only “Real Spending “and “Expenditure forecast” sections must be filledinbyBeneficiary 5

  6. Sourcesoffunding Sourcesoffundingratiomustbeinlinewith Project ApplicationFormandGrantContract 6

  7. Interestincome Bankinterestfromadvancepaymentsmustbeindicatedseparatelyfromotherprojectincomesandrevenue 7

  8. Revenue • Possiblesourcesofrevenue: • feeforparticipationinproject’sevents • feeforusingequipmentboughtwithintheproject • feeforusingpremisesfinancedthroughDirectlocalcostsetc. 8

  9. Supportingdocuments EXPENDITURE VERIFICATION REPORT (model EVR - annex 3 to theannex VII to GC) OR Printout of the project accountandlist of the financial and supporting documents covering the respective period (pleaseusetemplatepreparedforprojectswithpaymentoption 1) 9

  10. JTS contacts ThankYouforYourattention! www.estlatrus.eu Email:info@estlatrus.eu Phone: +371 6750 9520 Address: AuseklaStr. 14-3, Riga 10

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