WORKING WITH DG ECHO AS AN NGO PARTNER | 2021 - 2027
FINAL FINANCIAL REPORT
The financial part of the final report will help DG ECHO verifying that expenses are in line with the relevant financial regulatory framework (Financial Regulation, Grant Agreement, etc.). This covers mainly the verification that costs meet the eligibility rules.
For this purpose, DG ECHO will take into account information provided in:
- The Financial Overview of the Action provided in the Single Form
- The financial statement and Annex 4 (in euro): the financial statement is the Annex requested in Chapter 13.5 of the Single Form, Annex 4 is the update of Annex 2. The financial statement and Annex 4 must be presented in euro and in the language of the Grant Agreement.
Remember that information provided in the detailed budget has to be consistent with information provided in the Single Form: total amount per sector and final total amount per result
- The General Ledger of the Action. A general ledger (Ledger = spreadsheet excel) of the Action is a complete record of financial transactions over the life of the Action, classified by the nature of expenditure claimed, in the currency of the general accounts, which may be other than Euro. It should enable DG ECHO to reconcile the figures with the figures encoded in the detailed budget: the total of the amounts of each code will have to match with the related code in the budget. It is important to indicate the corresponding codes from the ledger in the detailed budget, in order to facilitate cross-checking by DG ECHO. In principle, the general ledger shall be submitted in the language of the Grant Agreement (English or French). In those cases where this is not feasible, DG ECHO will likely request a translation of the main headings.
- When relevant, information on remaining goods and equipment. An example of reporting table (which can be adapted by the Partner, provided it respects minimum requirements) is provided in the Annotated Humanitarian Aid Model Grant Agreement, Annex 5
It is important to remember that Partners have an obligation to declare all eligible costs of the Action, even in case of over-spending.
By signing the financial statements, the co-Partners confirm that:
- the information provided is complete, reliable and true;
- the costs declared fulfil the eligibility conditions;
- the costs can be substantiated by adequate records and supporting documents that will be produced upon request or in the context of checks, reviews, audits and investigations
FINANCIAL INFORMATION FROM PARTNERS
If the Action is implemented in collaboration with co-Partners, each one should present its General Ledger, and the Coordinator will consolidate all information.
The Partner shall report expenses incurred by Implementing Partners either recording their invoices in its own General Ledger, either attaching the ledgers of each Implementing Partner to its Final Report.
- Proofs of the implementation of visibility activities, such as pictures and screenshots must be submitted as an Annex to the Final Report.
- In case the Action foresees Action-specific evaluations that are funded by DG ECHO, a copy of the evaluation report must be submitted with the Final Report. The same applies in case an external audit is exceptionally foreseen by the Action.
Other supporting documents should not be annexed to the report. DG ECHO may however ask any additional information to demonstrate the eligibility of costs at liquidation stage.
CURRENCY OF THE FINAL FINANCIAL REPORT
The financial statements must be drafted in euro. Partners with general accounts established in a currency other than the euro 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.
Partners with general accounts in euro must convert costs incurred in another currency into euro according to their usual accounting practices.