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Q: ERC - What if a Certificate on Financial Statements (CFS) is submitted by a beneficiary although it was not compulsory?
A: It is not compulsory for a beneficiary to submit CFS before the total EU contribution requested reaches EUR 375,000. However, if the beneficiary submits a CFS before this threshold is reached, the counter will be re-set for the amount not covered by the CFS. The costs of a CFS submitted on a voluntary basis cannot be charged to the project as eligible costs as long as the cumulative EU contribution claimed does not reach the EUR 375,000 threshold.

Category : ERC - Cost Management for Grants ( Financial statements )