I- What are the different types of Financial Reporting? Top
All CBPFs require financial reporting to ensure that activities carried out are on track to reach proposed project objectives. All types of partners alike are bound to write and submit financial reports related to their approved and funded projects. Financial reports should reflect expenditure incurred for project activities. The submission of Financial reports to OCHA via GMS is the responsibility of the Agency or Implementing Partner (IP).
The UN Agency or IP shall provide financial reports in line with the reporting requirements stipulated in the Annex B of the signed grant agreement or otherwise agreed in the accountability framework of the fund.
The CBPFs use different types of financial reports depending on the Partner’s organization type and other considerations. They are listed below:
- Budget Line level
- Interim Financial report
- Final Financial report
- Category level (ONLY for UN Agencies)
- Category Interim Financial report
- Category Final Financial report
INTERIM AND FINAL FINANCIAL REPORTS (non-UN agency projects)
The Interim and Final financial reports are line level reports.
Interim financial reports should be filled in by the partner to report on a specific period, while the project is still under implementation. They can be manually triggered either by HFU or the Partner to request for the next disbursement tranche, or automatically activated by the system at the set date. The number of interim reports that is requested from the partner will vary depending on the applicable Operational Modalities. Additional reports can also be required at the discretion of the HFU and the Partner.
Final financial reports are filled in by the partner at the end of the project. The report reflects the entire project’s budget expenditures. The report’s conclusion, along with the audit’s conclusions, will be used to determine whether a refund is required from the partner. One final financial report is required per project, and is activated either manually by the HFU, or automatically by the system at the set date. Final Financial Reports are due within 2 months after the end date of the project.
CATEGORY INTERIM AND FINAL FINANCIAL REPORTS (ONLY for UN Agency projects)
Category Interim & Category Final financial reports are category level reports, where the reporting is done on the categories as defined in the budget. Category reports are only used when the implementing partner is a UN Agency.
Otherwise, their workflow and use are the same than interim and final financial reports (for OCHA Funds).
UN agencies will submit a year-end category interim financial statement to reflect expenditures incurred for project activities up to 31 December of each year by the 15 February of the following year.
Upon completion of the project a final financial statement covering the period between inception and completion of the project will be due no later than 30 June of the following year. UN agencies will also submit a final narrative report within two months of completion of the project.
