TEMPLATE FOR FINANCIAL REPORTING TO MISTRA All financial reports to Mistra are to be broken down using the headings set out below. All costs incurred are to be reported for the programme as a whole and for each project, including programme management, communication and so on. Both quarterly/fourmonthly (as stated in the programme contract) and annual figures must be available for all expenditure headings. Costs arising under the programme must be reported separately from other expenditure incurred by the main contractor. All costs charged must be capable of being audited.
FINANCIAL REPORTING TO MISTRA
All costs are to be reported for the programme as a whole and for each project (including programme management, communication etc.).
Direct costs:
• Gross salaries and payroll overhead
• Travel
• Consumables
• Depreciation of investments in project
• Other direct costs (licences, rent for separate premises, costs of seminars etc.)
Overhead charges:
• Overhead charges levied by research-conducting organizations, including costs of premises
External services:
• Costs of external services
Value added tax:
• ‘University VAT´, where relevant
• Value added tax, where relevant, with details of what it relates to
Participating companies´ or organizations´ contributions to programme:
• Financial contributions
Requesting funds
Requests for the disbursement of programme funds from Mistra are made by the main contractor. It is the responsibility of the programme manager, acting on behalf of the programme board and main contractor, to make sure that such requests are submitted. Provided that the programme contract has been complied with, Mistra will pay out funds eve ry quarter or four-month period in advance, in the manner laid down in the contract. All requests for disbursement must be accompanied by a statement of sums previously disbursed and costs incurred for the programme. This statement is to cover the preceding quarter/four-month period, with a delay of one period in relation to the request. All such statements are to comply with Mistra´s guidelines on financial reporting (see above). The main contractor is responsible for the subsequent distribution of programme funds, in line with the programme contract, the programme plan, decisions of the programme board, and the provisions of subsidiary agreements entered into under the programme.
Annual financial reports to Mistra
No later than 1 March each year, a detailed financial report on the programme for the preceding calendar year is to be submitted to Mistra. This report is to be drawn up in accordance with Mistra´s financial reporting guidelines (see above).
Where required by the programme contract, the main contractor must arrange for the financial report to be audited by an authorized public accountant. The contractor is to submit an audit report to Mistra by 1 April each year. In it, the auditor should specifically comment on whether the main contractor´s financial reporting and use of funds provided by Mistra comply with the provisions of the programme contract. The programme contract gives Mistra the right to appoint an auditor to scrutinize the programme´s finances. It also contains provisions regulating when the contract can be terminated early on the grounds of unsatisfactory financial reporting or use of funds.
Final financial report at the end of a phase
In addition, the main contractor is required to submit a final financial report to Mistra, approved by the programme board, within three months of the programme contract coming to an end. This report is to be audited by an authorized public accountant, as stated in the programme contract. Unless Mistra has agreed otherwise, any funds not spent during the life of the contract are to be repaid.
Frequently asked questions
I´m involved in a project forming part of a Mistra programme. Can I request disbursement of funds directly from Mistra?
No. All requests for disbursement within a Mistra programme are made by the programme manager through the main contractor. The project you are involved in requests its funds through the main contractor and the programme manager.
Our main contractor´s financial accounts use different headings from those recommended by Mistra. Do we have to adapt our reports to Mistra to comply with Mistra´s guidelines?
Yes. Prepare a separate report on programme funds, based on our guidelines. Mistra needs to be able to monitor programme costs under the headings stated in its guidelines, in order to ensure that programme contracts and plans are being followed.
What rules apply to overheads?
Overhead costs associated with the programme are regulated in the programme contract.
