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Instructions on making and presenting financial reports for Centers for Advanced Studies and Education

The objective of making financial reports is to evaluate efficiency, expediency and target-oriented use of funds allocated under the grant for strictly defined purposes.

The requirements set forth below determine the uniform procedures for making and presenting reports for Centers for Advanced Studies and Education.

1. Structure of financial reporting:

  • Financial statement (Attachment 1);
  • Expenses registers for each budget item (Attachment 2-8), together with copies of source accounting documents that confirm expenses reimbursable under the grant;
  • A document confirming the entry of fixed assets and small inventories purchased with grant funds to the balance sheet (Attachment 9).

2. Basic requirements for making financial reporting

2.1. Requirements for making a financial statement:

  • should be based on accounting information for each reported period;
  • Each subsequent accounting period will commence on the date following the last date of the previous period. For example, if the reported period expired August 30, next reported period will commence September 1;

  • should be made in US dollars (at the exchange rate of conversion of funds);
  • columns 1, 2  expense items and total amount of funds (allocated under the grant) will stay the same by item break-down;
  • column 3  «Total. Report No.1»  shows the total amount of the grant funds spent in the first accounting period; the same in the second, third…,seventh accounting periods is shown in columns 4, 5,…9 respectively;
  • column 10  «Total»  shows the total amount of the grant funds spent, as progressive total;
  • column 11  shows the difference between the grant total amount (col. 2) and the total amount of funds spent, as progressive total (col. 10);
  • financial reporting should be signed by the Academic director and chief accountant of the CASE.

2.2. Requirements for making a register of expenses:

  • should be filled out on the basis of the accounting information for each reported period indicating expense under each item;
  • Each subsequent accounting period will commence on the date following the last date of the previous period. For example, if the reported period expired August 30, next reported period will commence September 1;

  • to be prepared in rubles, specifying total expenses, opening and closing balances, both in rubles and in USD;

Copies of all initial documents should be enclosed to confirm the expenses incurred.

Copies of the initial documents should be numbered and attached to the register. The numbers of the initial documents should correspond to their numbers in the register.

List of initial documents (copies) to be attached to the register of expenses:

  • if settlement was made in cash: a cash cheque, a sale receipt, an invoice;
  • in case of a non-cash payment: a receipt to the cash credit ticket and an invoice; or an invoice, a consignment note and a payment order with a bank note;
  • for labor costs: payroll register, contract, work time sheet, documents confirming the accrual of social taxes for each individual, and a payment order confirming the payment of taxes.

In addition to the aforementioned, copies of the following documents should be presented as well: orders on assigning organization permanent staff to project implementation, contracts for hiring temporary employees with acts of conveyance and acceptance of work; a cash services agreement with a bank.

If any fixed assets and small inventories are acquired under the grant, the grantee must attach the original document confirming the entry of fixed assets and small inventories, purchased with grant funds, to the balance sheet. The document must be signed by Director and Chief Accountant of the grantee organization. (Note, that all the property procured at the expense of the grant funds is strictly subject to inventory taking).

Travel expenses should be confirmed by copies of relevant documents, such as: a warrant, tickets, an advance account.


Subsequent tranches are paid only after the submission of financial reports accounting for at least 80% of the previous tranche amount.

Only those expenses that are confirmed by source documents will be accepted for reimbursement. Any expenses in excess of the established norms are not acceptable as part of financial reports and must be covered from the grantee's own funds.

The following types of expenses are not accepted for reimbursement:

  • expenses related to capital construction;
  • expenses related to the purchase of vehicles;
  • depreciation of grantee's own equipment and property;
  • expenses on mobile communications;
  • expenses incurred in taking trips abroad;
  • amounts above $100 under «Administrative and Other Expenses» (unless approved in detail);
  • travel expenses in excess of standards set by Programm ;
  • tax expenses (except payroll taxes and fees);
  • expenses incurred in paying fines and penalties resulting from the grantee's financial and economic activity (including work funded under the grant);
  • expenses not authorized as part of the grant budget;
  • expenses exceeding fund allocations for the particular expense category.

3. Reporting submission time

Financial reports (intermediate, final) are to be submitted within deadlines specified in Annex 1 to the Grant Agreement.

4. Reporting submission format

Financial reporting will be submitted in two copies in writing to the Programm directly or mailed (the date of receipt of the letter and financial reporting by the Programm shall be deemed the submission date) to the following address:

For courier service:
107078, Moscow, Center, Bolshoy Kozlovsky per., 13/17


MSWord  1 Financial report
MSWord  2 Personnel
MSWord  3 Administration
MSWord  4 Equipment perches
MSWord  5 Conferences/Meetings
MSWord  6 Publications
MSWord  7 Library support
MSWord  8 International projects
MSWord  9 Confirmation