Closure of accounts and reporting on the annual budget and action programme Clause Samples

Closure of accounts and reporting on the annual budget and action programme a) After the close of each calendar year the EUI will provide to each depositing institution, for all operations covered, a cost and revenue statement for that year, which will be the basis for the closure in that year. b) After the close of each calendar year, the EUI shall establish an annual activity report and submit it to the Commission. The payment of the balance of the annual grant is subject to the approval of the annual activity report by the Commission, which will consult the other depositing institutions. c) The EUI will send the final annual activity report to all depositing institutions.