Frequently Asked Questions about FVO - Pillar 1

No, there is no official framework for reporting the hours worked during the project. In your document, you must include:

• who worked the hours;
• what they did;
• where the work activities were carried out;
• how many hours they worked (in which period).

For these records, we advise you to use an Excel document. Discuss the justification of the hours worked with your accountant.

No, it is not necessary to provide an auditor's opinion with the final report. A signed management statement is enough. You will find a template on the project administration page.

No, we exclude costs caused by inflation and exchange rate fluctuations.

The mandatory elements are:

• Final report. This should include the Self-assessment survey completed by all companies in the partnership;
• Results sheet;
• The requested Means of Verification per result. Please consult with your project advisor;
• Financial budget tool, and
• Management Statement. 

You can find the forms you need on the project administration page.
 

Yes, we carry out random checks. If we select your project, we will contact you and ask for extra project information from your administration. For example, financial records, such as time sheets and invoices.

For changes to the budget, you must receive our approval if the change is more than 25% per result within a budget category. For example, within the budget category 'A1. Staff hours in home country'. If a change of more than 25% is less than €2,000, you do not need our approval.

You must also report content-related budget changes. For example, if an activity is replaced by another activity within the same budget category due to a shift.