Zbornik radova Koridor 10 - Kirilo Savić

3rd International Scientific and Professional Conference
CORRIDOR 10 - a sustainable way of integrations
Table 2:
The calculation of the funding gap
Main elements and parameters
Value not
discounted
Value discounted
(net present value)
1 Reference period (years)
The analysis is made for the
construction phase and
operational phase in period of
30 years
2 Financial discount rate of 7%
3 Total investment cost (in euro, not discounted)
4 Total investment cost (in euro, discounted)
5 Residual value (in euro, not discounted)
6 Residual value (in euro, discounted)
7 Revenues (in euro, discounted)
8 Operating costs (in euro, discounted)
9
10
11
Net revenue = revenues - operating costs + residual value
(in euro, discounted) = (7) - (8) + (6)
Eligible expenditure (Article 55 (2)) = investment cost - net
revenue (in euro, discounted) = (4) - (9)
Funding gap rate (%) = (10)
/ (4)
Table 3:
Community contribution calculation
Value
1. Eligible cost (in euro, not discounted)
2. Funding gap rate (%)
3.
Decision amount, "The amount to which the cofinancing
rate for the priority axis applies" (Article 41 (2))
= (1) * (2) (taking into account the maximum public
contribution according to state aid rules)
4. Co-financing rate for the priority axis (%) 7 85
5. Community contribution (EUR) = (3) * (4)
After calculating the Community contribution the calculation of the project financial eligibility is made
again, taking into account that Community contribution is among the revenues. Community
contribution should be adjusted so, that the financial NPV is still not higher than 0, which prevents the
granting of ineligible benefits for recipient, like over-financing of the project.
7 Themaximumco-financingratefortheCohesion Fund is 85%.
Belgrade, 2012 42