PROJECT MANAGEMENT MANUAL Contents - Fokus

Norwegian standard layout with Norwegian auditor’s reportFOKUS has drawn up a layout which clarifies the transactions in Norway,summarizes the project accounts in the field and gives an overview over the total useand possible unused funds in Norway to make the reporting of accounts the same forall.Part 1: Transaction overviewPart 1 gives an overview of money which has been transferred in and out of bankaccounts in Norway during the financial year (1 January to 31 December). Thebalance on 1 January includes interest from the previous year, and in some cases,unused funds. Interest must be transferred to FOKUS by 20 January.Into the account: The Norwegian organization receives funding from FOKUS twiceduring the year.1) 60% of the amount is transferred when the contract is signed.2) The residue (or more or less, if the budget has been revised) will betransferred after the grant round, on condition that the accounts for theprevious year have been approved.Out of the account: The Norwegian organizations transfer funds to the projectpartners several times a year. Transference fees are covered by the administrativeallowance. The money should be transferred from one of the accounts to avoid hightransaction fees. In some cases there will be project expenses in Norway so that notall of the funds will be transferred to the project.Part 2: Summary of the project accountsPart 2 is based on the accounts figures from the project partner. The amount willautomatically be given in Norwegian crowns (NOK) when the accounts template inExcel is used.Part 3: Return of fundsPart 3 concerns the Norwegian organization’s balance in Norway according toFOKUS. Unused funding in the field is not included in this layout. The administrativeallowance is 8% of Norad‟s contribution (5% of funds from the TV campaign). Thisallowance is therefore lower than originally granted if the project costs are less thanplanned.Unspent funds from the project will be deducted from the second payment.In addition, the interest gained will be returned by 20 January, at the latest.Below is an example from a Norwegian auditor‟s report which can be submitted toFOKUS along with the accounts layout.15