Revised final grant amount Sample Clauses

Revised final grant amount. If the Commission/Agency finds — after the payment of the balance — ineligible costs, improper implementation of the action or breach of other obligations (and therefore rejects the costs or reduces the grant), it will revise the final grant amount, for each beneficiary concerned (i.e. at beneficiary level). For rejection of costs: the Commission/Agency will deduct the amount rejected from the total eligible costs declared by the beneficiary in the final summary financial statement (see Article 42.3). The revised final grant amount will be calculated by applying the reimbursement rate to the revised eligible costs of the beneficiary concerned. Example: Maximum grant amount: 500 000 There are three Beneficiaries A, B and C Reimbursement rate: 100% Direct eligible costs accepted for Beneficiary A at the payment of balance: 150 000 Total eligible costs accepted for Beneficiary A at the payment of balance = 150 000 + 25% (indirect costs) = 187 500 Costs rejected following audit: 30 000 Revised direct eligible costs: 120 000 Revised total eligible costs= 120 000 + 25% (indirect costs) = 150 000 Revised final grant amount: 100% of 150 000 = 150 000 If for the beneficiary the revised final grant amount is lower than its share of the final grant amount, there will be a recovery (see Article 44.1.3). For reduction of the grant: the Commission/Agency will: − reduce the maximum grant amount set out in Article 5.1, in proportion to the improper implementation or to the seriousness of the breach (see Article 43) − calculate the revised final grant amount (for each beneficiary concerned), by allocating the amount of the reduction to each of them in proportion to its improper implementation or breach of obligation Example 1: Maximum grant amount and final grant amount: 500 000 There are three Beneficiaries A, B and C Reimbursement rate: 100% According to the estimated budget, Beneficiary A was entitled to a maximum contribution of 200 000 for carrying out its work set out in Annex I. Total eligible costs accepted for Beneficiary A at the payment of balance = 187 500 1a: The Commission/Agency finds that Beneficiary A has implemented only 80% of its work provided for in Annex 1. Revised final grant amount of Beneficiary A: 80% of the share of Beneficiary A in the maximum grant amount: 80% of 200 000 = 160 000 1b: The Commission/Agency finds that Beneficiary A breached its confidentiality obligations, which had an impact of the full action and for which the reduction rate i...