Common use of Financial Report Clause in Contracts

Financial Report. 7.1.1 A certified interim financial report shall be submitted to IOM no later than [date (A)]. The interim financial report shall present how the Contribution from IOM has been used from the start date of the Activities to [date]. 7.1.1. Certified interim financial reports shall be submitted to IOM within 30 days from the below listed reporting date. The interim financial reports shall present how the Contribution from IOM has been used from the start date of the Activities up to the reporting date. 1st Interim Report e.g. 30 June 202X 2nd Interim Report e.g. 31 December 202X 3rd Interim Report e.g. 30 June 202X 7.1.2 A certified final financial report shall be submitted to IOM no later than [date (B)] and shall cover the whole project duration. 7.1.3 Financial reports are to be prepared in EUR (Euro). In case expenses are incurred in currencies other than EUR, the equivalent amount in EUR shall be calculated using the monthly exchange rate established by the United Nations Treasury and published on its webpage (xxxxx://xxxxxxxx.xx.xxx/operationalrates/OperationalRates.php) valid during the month when relevant expenditure was incurred. 7.1.4 Expenses included in the interim or final financial reports by the Implementing Partner are eligible direct costs if they meet the following minimum criteria: They are incurred in accordance with the provisions of this Agreement; and They are necessary for carrying out the Activities as described in Annex A of this Agreement; and They are foreseen in the estimated project budget as described in Annex B of this Agreement; and They are incurred during the implementation period of this Agreement and have been borne by the Implementing Partner; and They are genuine, reasonable, justified, comply with the principles of sound financial management; and They are identifiable and verifiable, recorded in the Implementing Partner’s accounts in accordance with the accounting practices of the Implementing Partner and backed by supporting documents as specified in Article 6.4. 7.1.5 Expenses are ineligible if: They are paid or reimbursed to the Implementing Partner by another Donor or entity; They represent contributions in kind; They represent indirect costs; They merely represent financial transfers between administrative units or locations of the Implementing Partner, for example as payment for services provided by one administrative unit of the Implementing Partner to another; They are not reasonable and justified under principles of sound financial management, in particular the principles of value for money and cost-effectiveness; They relate to goods or services that are delivered after the end date of the implementation period of this Agreement, irrespective of the timing when they were obligated; Bonuses, provisions, reserves or non-remuneration related costs; Value added tax (“VAT”) unless the Implementing Partner can reasonably demonstrate to IOM that it is unable to recover VAT; Full-purchase cost of equipment and assets unless the asset or equipment is specifically purchased for the Activities and ownership is transferred in accordance with Article 24.2 of this Agreement; Debt and debt service charges; Provision for losses, debts or potential future liabilities; Foreign exchange loss; They incur during the suspension of the implementation of the Agreement in accordance with Article 21.5 unless otherwise agreed with IOM prior to costs being incurred; Fines or levies payable to the authorities; Cost of purchase of land or building; They are made in contravention of any of the terms of this Agreement; They are not supported by the financial reports submitted by the Implementing Partner and by certified copies of supporting evidence; 7.1.6 In the event of failure to comply with Articles 7.1.4 and 7.1.5 or with the provisions of the present Agreement the relevant costs shall not be covered by IOM. As part of the financial report verification and approval process, IOM shall receive certified copies of all documents supporting the expenses reported by the Implementing Partner.

Financial Report. 7.1.1 A certified interim mid-term financial report shall be submitted to IOM no later than [date (A)]30 June 2021. The interim mid-term financial report shall present how the Contribution contribution from IOM IOM, as well as the co- funded part covered by the Implementing Partner, has been used from the start date of the Activities 01 January 2020 to [date]30 June 2021. 7.1.1. Certified interim financial reports shall be submitted to IOM within 30 days from the below listed reporting date. 7.1.2 The interim financial reports shall present how the Contribution from IOM has been used from the start date of the Activities up to the reporting date. 1st Interim Report e.g. 30 June 202X 2nd Interim Report e.g. 31 December 202X 3rd Interim Report e.g. 30 June 202X 7.1.2 A certified final financial report shall be submitted to IOM no later than [date (B)] 31 January 2023 and shall cover the whole project duration. The final financial report shall include certified copies of supporting, an individual financial statement (see Annex 4 of the Grant Agreement) for the reporting period, an explanation on the use of resources (including the use of the co-funded part financed by the Implementing Partner) and the information on subcontracting for the reporting period concerned. 7.1.3 Financial reports are to be prepared in EUR (Euro). In case All expenses are incurred in currencies other than EUR, the equivalent amount in EUR shall be calculated using the monthly exchange rate established by the United Nations Treasury and published on its webpage (xxxxx://xxxxxxxx.xx.xxx/operationalrates/OperationalRates.php) valid during the month when relevant expenditure was incurred. 7.1.4 Expenses included in the interim or final financial reports by the Implementing Partner are eligible direct costs if they must meet the following minimum criteria: : (i) They are incurred in accordance with the provisions of this Agreement; and ; (ii) They are necessary for carrying out the Activities activities as described in Annex A of this Agreement; and ; (iii) They are foreseen in the estimated project budget Project Budget as described in Annex B of this Agreement; and ; (iv) They are incurred during the implementation period of this Agreement and have been borne by the Implementing Partner; and Agreement; (v) They are genuine, reasonable, justified, comply with the principles of sound financial management; and ; (vi) They are identifiable and verifiableidentifiable, recorded in the Implementing Partner’s accounts in accordance with the accounting practices of the Implementing Partner and backed by supporting documents as specified in Article 6.4documents. 7.1.5 Expenses are ineligible if: They are paid or reimbursed 7.1.4 All financial reports shall be submitted in Euro and shall cover the total expenses for the Project activities to the Implementing Partner be implemented by another Donor or entity; They represent contributions in kind; They represent indirect costs; They merely represent financial transfers between administrative units or locations of the Implementing Partner, for example as payment for services provided including expenses covered by one administrative unit the 10% co-funding contribution of the Implementing Partner to another; They are not reasonable and justified under principles of sound financial managementin accordance with the Grant Agreement. 7.1.5 In case the Implementing Partner’s accounting is established in a currency other than the euro, in particular the principles of value for money and cost-effectiveness; They relate to goods or services that are delivered after the end date of the implementation period of this Agreement, irrespective of the timing when they were obligated; Bonuses, provisions, reserves or non-remuneration related costs; Value added tax (“VAT”) unless the Implementing Partner can reasonably demonstrate to IOM that it must convert the costs recorded in their accounts into euro, at the average of the daily exchange rates published in the C series of the Official Journal of the European Union, calculated over the corresponding reporting period. If no daily euro exchange rate is unable to recover VAT; Full-purchase cost published in the Official Journal of equipment and assets unless the asset or equipment is specifically purchased European Union for the Activities and ownership is transferred currency in accordance with Article 24.2 of this Agreement; Debt and debt service charges; Provision for lossesquestion, debts or potential future liabilities; Foreign exchange loss; They incur during they must be converted at the suspension average of the implementation of monthly accounting rates published on the Agreement Commission’s website, calculated over the corresponding reporting period. In case the Implementing Partner’s accounting is established in accordance with Article 21.5 unless otherwise agreed with IOM prior to costs being incurred; Fines or levies payable to the authorities; Cost of purchase of land or building; They are made in contravention of any of the terms of this Agreement; They are not supported by the financial reports submitted by euro, the Implementing Partner and by certified copies of supporting evidence; 7.1.6 In the event of failure must convert costs incurred in another currency into euro according to comply with Articles 7.1.4 and 7.1.5 or with the provisions of the present Agreement the relevant costs shall not be covered by IOM. As part of the financial report verification and approval process, IOM shall receive certified copies of all documents supporting the expenses reported by the Implementing Partnertheir usual accounting practices.

Financial Report. 7.1.1 A certified interim financial report shall be submitted to IOM no later than [date (A)]. The interim financial report shall present how the Contribution from IOM has been used from the start date of the Activities to [date]. 7.1.1. Certified interim financial reports shall be submitted to IOM within 30 days from the below listed reporting date. The interim financial reports shall present how the Contribution from IOM has been used from the start date of the Activities up to the reporting date. 1st Interim Report e.g. 30 June 202X 2nd Interim Report e.g. 31 December 202X 3rd Interim Report e.g. 30 June 202X 7.1.2 A certified final financial report shall be submitted to IOM no later than [date (B)] and shall cover the whole project duration. 7.1.3 Financial reports are to be prepared in EUR (Euro). In case expenses are incurred in currencies other than EUR, the equivalent amount in EUR shall be calculated using the monthly exchange rate established by the United Nations Treasury and published on its webpage (xxxxx://xxxxxxxx.xx.xxx/operationalrates/OperationalRates.php) valid during the month when relevant expenditure was incurred. 7.1.4 Expenses included in the interim or final financial reports by the Implementing Partner are eligible direct costs if they meet the following minimum criteria: : (a) They are incurred in accordance with the provisions of this Agreement; and and (b) They are necessary for carrying out the Activities as described in Annex A of this Agreement; and and (c) They are foreseen in the estimated project budget as described in Annex B of this Agreement; and and (d) They are incurred during the implementation period of this Agreement and have been borne by the Implementing Partner; and and (e) They are genuine, reasonable, justified, comply with the principles of sound financial management; and and (f) They are identifiable and verifiable, recorded in the Implementing Partner’s accounts in accordance with the accounting practices of the Implementing Partner and backed by supporting documents as specified in Article 6.4. 7.1.5 Expenses are ineligible if: : (a) They are paid or reimbursed to the Implementing Partner by another Donor or entity; ; (b) They represent contributions in kind; ; (c) They represent indirect costs; ; (d) They merely represent financial transfers between administrative units or locations of the Implementing Partner, for example as payment for services provided by one administrative unit of the Implementing Partner to another; ; (e) They are not reasonable and justified under principles of sound financial management, in particular the principles of value for money and cost-cost- effectiveness; ; (f) They relate to goods or services that are delivered after the end date of the implementation period of this Agreement, irrespective of the timing when they were obligated; ; (g) Bonuses, provisions, reserves or non-remuneration related costs; ; (h) Value added tax (“VAT”) unless the Implementing Partner can reasonably demonstrate to IOM that it is unable to recover VAT; ; (i) Full-purchase cost of equipment and assets unless the asset or equipment is specifically purchased for the Activities and ownership is transferred in accordance with Article 24.2 of this Agreement; ; (j) Debt and debt service charges; ; (k) Provision for losses, debts or potential future liabilities; ; (l) Foreign exchange loss; ; (m) They incur during the suspension of the implementation of the Agreement in accordance with Article 21.5 unless otherwise agreed with IOM prior to costs being incurred; ; (n) Fines or levies payable to the authorities; ; (o) Cost of purchase of land or building; ; (p) They are made in contravention of any of the terms of this Agreement; ; (q) They are not supported by the financial reports submitted by the Implementing Partner and by certified copies of supporting evidence; 7.1.6 In the event of failure to comply with Articles 7.1.4 and 7.1.5 or with the provisions of the present Agreement the relevant costs shall not be covered by IOM. As part of the financial report verification and approval process, IOM shall receive certified copies of all documents supporting the expenses reported by the Implementing Partner.