Reporting and payments

Funding for your project granted from the programmes of the Nordic Council of Ministers (NCM) administered by Nordic Culture Point can be disbursed when you have accepted the conditions for the funding. The conditions for the funding are laid out in an electronic contract in four parts covering the following issues:

When you accept the contract you agree to the conditions for the funding from Nordic Culture Point. At the same time you also confirm that the other sources of financing and grants are in place and that the project can be realised according to the plans stated in your application.

The first instalment of the funding will be disbursed when Nordic Culture Point has received your acceptance of the conditions for the funding and confirmed the submitted bank information.

1. General conditions

The funding may only be used for the purpose and the time period for which it has been granted. Before making any changes in the project plan, the recipient must inform Nordic Culture Point as soon as possible about the changes and ask for Nordic Culture Point's approval in writing. If Nordic Culture Point has not given its approval in advance, the recipient may be required to refund the contribution either in part or whole.

Public interest

All the information concerning the applications, granted funding and final reports are public and may be published on the Nordic Culture Point website or elsewhere.

Withdrawal /annulment of funding, request for refunding

Funding that has not been requested to be disbursed within one (1) year from the date of Nordic Culture Point's letter about the contribution are no longer valid and will thus be annulled.

If the funding has not been used in accordance with Nordic Culture Point's conditions, outstanding contributions will be annulled and the recipient can be requested to refund the already disbursed contributions. If a request of a refund is not accepted, Nordic Culture Point will initiate debt-collecting measures.

Special conditions concerning the Support for Artist Residencies module
The funding must be used to pay the scholarships of 2-4 Nordic artists. The scholarships should cover the travel and accommodation costs for a two-(2) month period, but they can to a certain extent also be used to cover costs of materials the artists may directly need in their work. The residency centres themselves are responsible for choosing the artists, according to their own criteria. The funding can not be used for administrative expenses.

The residency centres themselves are responsible for clarifying their national tax regulations applying to the scholarships.

2. Financial conditions

Your request for a disbursement of the contribution is made by entering your User Profile on the Nordic Culture Point website.
The organisation's name, registration number and bank account information must be submitted. If the project does not have an account of its own and the finances of the project are organised through a private person's bank account, you must inform Nordic Culture Point about the full names and personal identification numbers of all the persons in charge of the project. This information must be submitted to Nordic Culture Point at info [at] kknord.org. The information will be forwarded to the national tax authorities.

If there is a change of the director/contact person of a project, the grant recipient must immediately notify Nordic Culture Point of the change.

The grant recipient has the full responsibility for any salaries or fees related to the project and must pay taxes and other social and insurance costs according to the legislation of the grant recipient's domicile country.

The funding is disbursed in two or three instalments according to the amount of the contribution.

Disbursement in two instalments (contributions up to and € 30.000):

• The first instalment of 85% will be disbursed when Nordic Culture Point has received the recipient's bank account and organisation registration number or personal identification number.
  
• The second instalment of 15 % will be disbursed when Nordic Culture Point has received and approved the project's final report and accounts.
  

Disbursement in three instalments (contributions exceeding € 30.000):

• The first instalment of 45 % will be disbursed when Nordic Culture Point has received the recipient's bank account and organisation registration number or personal identification number.
  
• The second instalment will be disbursed when Nordic Culture Point has received and approved a status report, which should be submitted when the project has reached half way.
  
• The third instalment of 15% will be disbursed when Nordic Culture Point has received and approved the project's final report and accounts.
  

Profits from the project

If the accounts of the project show a profit, Nordic Culture Point reserves the right to deduct this amount from the final 15 % instalment and may request a refund of the already disbursed contributions. Nordic Culture Point's share of a possible profit corresponds to Nordic Culture Point's share of the total financing of the project.

3. Reporting and accounts

Status report

With contributions received from NCP amounting over € 30.000 EUR, the second instalment can only be disbursed when NCP has received and accepted a status report. This report should be sent via your User Profile on the Nordic Culture Point website at http://applications.kknord.org/user

The report should contain information about the general development of the project including the project's accounts in the currency used for the project.

The report should also include information about later changes in the following parts of the project:

• Administration (project contact person and project director)
  
• Content, execution, time frame
  
• Income, expenses
  
• Information and communication strategy
  
• Other relevant information

Final report

The final report and the accounts should be submitted as soon as possible, but not later than 3 months after the project has been completed. The completion date for the project is the date given in the application, unless Nordic Culture Point has separately approved a change in it. The final report must include a description of the project and its results, and, as a separate attachment, the project's accounts in the currency used for the project's accounts. The final report and the accounts must be submitted to Nordic Culture Point electronically through the recipient's User Profile on the Nordic Culture Point application database.

Accounts need not be included in the final report if you have received only an accommodation grant from the module for Mobility Support.

Accounts

Contributions up to € 30.000 are exempt from audit requirements.

With all grants exceeding € 30.000, the project accounts must be audited and certified by a registered, accredited or authorised accountant:

In Denmark: Registreret revisor.
Finland: HTM -tilintarkastaja (Suomen Kauppakamarin hyväksymä tilintarkastaja), GRM- revisor (av Handelskammaren i Finland godkänd revisor).
Iceland: Löggiltur endurskoðandi.
Norway: Registrert revisor.
Sweden: Godkänd revisor.

Institutions using municipal auditors or other public auditing bodies are excepted from the auditing requirements. In such cases, the accounts must be certified by the head of the institution or its financial director. Nor is a separate audit required for projects in which the recipient of the contribution is an institution reporting directly to the Nordic Council of Ministers.

Nordic Culture Point's own accounts are audited by the National Audit Office of Finland.

The grant recipient shall not send originals of the project's receipts to Nordic Culture Point. The contract, accounts and receipts should be kept as long as required by the tax authorities in the recipient's domicile country. The recipient's accounts and receipts may also be needed in any random checks Nordic Culture Point may choose to undertake.

The final report and the accounts must be clearly marked with the project's ID-number.

4. Information and communication

Nordic Council of Ministers requires that all projects receiving funding from its programmes will inform about the contribution in all information material about the project whether in printed or electronic form. The logo of the Nordic Council of Ministers can be downloaded from the NCM website (www.kknord.org > Media > NCM logo). Links from the project's website must also be sent to Nordic Culture Point which reserves the right to use them on its own website.

Free copies

Publications, CDs, magazines, CD-ROMs, etc. produced with a contribution from Nordic Culture Point should be sent to Nordic Culture Point in two (2) copies. In cases when Nordic Culture Point has a certain interest in getting more copies, it will request for them separately.

Furthermore, Nordic Culture Point wishes that other material such as documentation in files with pictures or soundtracks, publications or critiques and revues are attached to the final report.

Unless otherwise stated, Nordic Culture Point may use the submitted material without separate compensation for its own information purposes, e.g. on the Nordic Culture Point application database and website or in other information material about Nordic Culture Point and the projects that have received support through it. In these events, Nordic Culture Point has the responsibility to give credits for the source of the material used or quoted.