1. Part-financed by the European Union What makes final financial reporting different from regular reporting? Rostislav Zatloukal Financial Manager, BSR INTERREG III B Joint Secretariat BSR INTERREG III B NP 6th Quality Workshop Riga, 27-28 September 2007

2. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 Content (1) Time schedule (2) Final reporting (3) Responsibilities after the project closure

3. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 (1)Time schedule Final project reporting period Submission of the final project Progress report Final payment to the Programme by the ECOM Keeping of the documents by the projects Up to 9 months3 months?3 years End date for eligibility of all project costs Expected by 2010Expected by 2013

4. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 Preliminary timetable all projects finished 31.12.2007 29.02.2008 31.05.2008 30.09.2008 31.10.2008 all final project reports must be submitted all project reports should be clarified payment request to the ECOM 5 % retention rate and de-commitment risk ? 2010 Expected final payment from the ECOM

5. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 (2) Final reporting In practise final financial report is the same as the regular FR. Last possibility to correct detected mistake by simple adjustment or deduction from the reported expenditures To deduct revenues generated during the project duration Purchase of equipment within the BL6 Other in the final stage / only proportional depreciation is strongly recommended

6. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 (2) Final reporting Potential risks and shortcomings detected by the FLC and SLA General observations: Exceeded budgets in BLs / WPs Incompletness and lack of documentation Project costs not identifiable in the accounting system Calculations are not transparent and not in line with the EU/national rules Costs are not clearly linked to the project activities Declaring unjustifiably high costs

7. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 (2) Final reporting Examples: OH costs: calculation is not based on the real costs Personnel costs: incorrect calculation and missing proofs of work done, timesheets Public procurement Revenues are not deducted Daily allowances Information and publicity measures Reporting of costs actually not paid out / or outside the rep.per.

8. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 (3) Responsibilities after the project closure 1.Audits after the project closure 2.Availability of project‘s and accounting‘s documents 3.Location and ownership of the purchased items and investments 4.Information and publicity measures 5.Update your contact details

9. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 1. Audits after the project closure Subsidy contract, §8 Audit rights Responsible auditing bodies of EU Responsible auditing bodies of EU Members States and Norway Investitionsbank S-H LP and PP can be asked to provide necessary information and give access to its business premises

10. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 2. Availability of project‘s and accounting‘s documents Subsidy contract, §8 Audit rights For audit purposes All files, documents and data about the project Min. 3 years after final payment by ECOM to the BSR IR 3B NP Final payment is expected in 2010 Consequently retention of the documents would be till 2013 (if the national law does not require longer period).

11. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 3.Location and ownership of the purchased items and investments Council Regulation (EC) No. 1260/1999, art. 30, indent 4 Project must not within five years of the decision of the managing authority (signature of the Subsidy contract) on the contribution of the Funds undergo substantial modification: affecting ist nature giving to a firm or public body an undue advantage in the nature of ownership.

12. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 4. Information and publicity measures European Commission Regulation (EC) No. 1159/2000 on information and publicity To be respected: for all products co-financed by BSR IR 3B NP also after the project closure.

13. BSR INTERREG III B NP 6th Quality Workshop, Riga, 27-28 September 2007 5. Update your contact details In order to come back to you at later stage for communication regarding point 1 and 2

14. Part-financed by the European Union What makes final financial reporting different from regular reporting? Rostislav Zatloukal Financial Manager, BSR INTERREG III B Joint Secretariat BSR INTERREG III B NP 6th Quality Workshop Riga, 27-28 September 2007