An interim or final report must be drawn up at the end of each reporting period. Each report consists of a technical report and a financial report ("financial statement") for the reporting of eligible costs. It is carried out electronically in the Funding & Tender Opportunities Portal of the EU Commission.
The financial report consists of three parts:
- the individual financial statements of all beneficiaries and linked third parties,
- the associated explanation on the use of resources with detailed explanations on the eligible costs and
- the automatically generated summary financial statement of all beneficiaries, including the request for interim/balance payment.
The individual financial statement (Annex 4 of the Grant Agreement (GA); in tabular form) must detail all eligible costs incurred by the beneficiary in the reporting period – even if the requested EU contribution is lower than the eligible costs. This form must be completed by each beneficiary (as well as "linked third party") individually, electronically signed by the Financial Signatory (FSIGN) and submitted to the coordinator. The consortium internal period for this process is usually specified in the Consortium Agreement. The coordinator must submit the entire interim or final report to the EU Commission within 60 days of the end of the reporting period via the Funding & Tenders Opportunities Portal. If a beneficiary fails to meet this deadline, the relevant individual financial statement may be included in the report for the next reporting period. An extension of the submission deadline is only possible for the last reporting period.
Costs in foreign currencies incurred by beneficiaries from the eurozone (e.g. travel costs) must be converted in accordance with the usual accounting practices of the organisation. Beneficiaries from outside the eurozone must convert their entire costs to euros at the average exchange rate calculated over the corresponding reporting period.
If errors have occurred in a previous individual financial statement an adjustment needs to be made. An "add adjustment" button will appear directly in the individual financial statement from the second reporting period onwards. Only the difference between the original and the corrected amount must be entered in this "adjustment financial statement". Errors in reports must be indicated as adjustment corresponding to the correct period. Therefore, corrections require for an adjustment per period.
Please note: adjustments may only be used for correcting mistakes (e.g. costs forgotten, too high/low), and not, e.g. for subsequently recalculating personnel costs calculated on the basis of the "last closed financial year".
The final report (after the last reporting period) must also detail eventual receipts of the action in addition to the eligible costs and eventually include a requested Certificate on the Financial Statements (CFS).
The reports submitted will be reviewed by the EU Commission and will either be accepted or rejected in their entirety. If a report is rejected it must be resubmitted. The EU Commission will transfer the respective payment within 90 days of receiving the interim/final report and this deadline will be extended in the event of rejection of the report.
More information can be found ...
- in the Annotated Model Grant Agreement (AGA), article 20
- in the Online Manual of the EU Commission (a IT guide for the steps to be taken in the Funding & Tenders Opportunities Portal)
- in the presentations of the EU Commission "H2020 Coordinator's Day: Amendments / Reporting and Payments"
- in the webinar of the EU Commission "Certificates on Financial Statements"
Deliverables
Deliverables are additional outputs of a project (e.g. special report, list) that must be produced at a given moment during the project. The coordinator must submit deliverables identified in Annex 1 of the GA to the EU Commission within the specified deadline and in accordance with any other applicable provisions.
More information can be found ...
- in the Annotated Grant Agreement (AGA), article 19.
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