1. Financial reporting Elise Oukka, Head of Finance, FMO 5.3.2013 Riga

2. 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

3. 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

4. Financial reporting chart

5. Financial flow

6. 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

7. 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

8. 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

9. 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 Interim Financial Report

10. 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) Financial reporting

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