Final report and accounts

Final report

The final report and project accounts must be submitted within three months of the project completion date. The completion date is the date you stated in the application unless the Fund has approved a new completion date, in which case the new date will apply. You can request an extension of the reporting deadline via your profile on My Page.

Final accounts

You can use the Fund’s budget and accounting template to create final accounts for your project. If you want to use your own accounting template for the project accounts, be sure to include the following information and formalities:

• Heading: The title should indicate that it is a final report of the project and not the project budget.
• The project’s budget: Compare the project’s approved budget (i.e. the planned finances from the application or an approved updated budget) and the final accounting numbers. Indicate the difference.
• Currency: All income and expenses must be summarised in a named currency. The Fund’s support shall be stated in Danish kroner (DKK). If the accounts are not presented in DKK, the rate and date of exchange must be stated.
• Incomes: Present all income, not just the Fund’s share of the financing of the project. All sources of funding must be listed separately. Remember to also indicate any in-kind funding for the project. Please note. There is no co-financing requirement in Opstart and Globus Opstart+ – the accounting follows your budget.
• Expenses: All expenses in your project, also in-kind. The cost items may not be rounded and they must correspond to the actual costs of the project and your documentation.
• Result: If the result is not zero, a comment must be added. If the project has a surplus, the Fund will claim reimbursement of the Fund’s share of the surplus.
• Date & place
• The project leader’s handwritten signature & name of the signatory

Requirement for audit for funding over DKK 200,000

The final accounts for all projects receiving more than DKK 200,000 in grants from the Fund must be audited and certified by a registered/approved or authorized auditor.

If your project needs to be audited, your accountant should read the Fund’s auditing instructions.

No separate audit is required for projects where the funding recipient is an institution reporting directly to the Nordic Council of Ministers or for grant recipients audited by the National Audit Offices in the Nordic countries.

Funding up to and including DKK 200,000 are exempt from the audit requirement. However, the project may be selected for random control checks, in which case it will be audited by the Fund.

Documentation and random spot checks

The Nordic Culture Fund chooses every year several awarded applicants to provide accounts for random control checks. The Nordic Culture Fund and the Danish National Audit Office, which audits the Fund’s accounts, may require you to provide accounts for random control checks for up to five years after the submission of your final reports.

It is important to save any invoice, receipt and other documentation that verifies purchases/services/fees in the project.

In-kind: voluntary work must be documented with a calculation of working hours, and free use of venues or tools etc. with documentation/calculation of the monetary value.

Consider that the saved documentation must be legible for five years. Scan or photograph the documents if needed.

Claims for reimbursement

If the funding is used for purposes other than those described in the application, the Fund may reduce the funding or require the full amount to be repaid. The Fund may also demand repayment of funding if the project exceeds the deadline for submission of the final report with attached accounts and any audit.

If the accounts are in surplus, the Fund has the right to claim its share of the surplus to be repaid. The Fund’s share of any surplus is equal to its proportion of the project’s total funding.

If the repayment is not made, the Fund will put the case in the hands of a debt collection agency.