Accounting rules
The PPP body shall set up an accounting system providing accurate, complete and reliable information in a timely manner.
The accounting officer of the PPP body shall apply the rules adopted by the accounting officer of the Commission based on internationally accepted accounting standards for the public sector.
For the purposes of the first paragraph of this Article, Articles 80 to 84 and 87 of Regulation (EU, Euratom) 2018/1046 shall apply. Articles 85 and 86 of Regulation (EU, Euratom) 2018/1046 shall apply mutatis mutandis .
Structure of the accounts
The annual accounts of the PPP body shall be prepared for each financial year which shall run from 1 January to 31 December. Those accounts shall be comprised of:
(a)
the financial statements of the PPP body;
(b)
the budget implementation reports of the budget of the PPP body.
Supporting documents
Each entry into the accounts shall be based on appropriate supporting documents in accordance with Article 20(5) of this Regulation.
Financial statements
1. The financial statements shall be presented in euro in accordance with the accounting rules referred to in Article 47 of this Regulation and shall comprise:
(a)
the balance sheet which represent all assets and liabilities and the financial situation prevailing on 31 December of the preceding financial year;
(b)
the statement of financial performance, which presents the economic result for the preceding financial year;
(c)
the cash-flow statement showing amounts collected and disbursed during the financial year and the final treasury position;
(d)
the statement of changes in net assets presenting an overview of the movements during the year in reserves and accumulated results.
2. The financial statements shall present information, including information on accounting policies, in a manner that ensures it is relevant, reliable, comparable and understandable.
3. The notes to the financial statements shall supplement and comment on the information presented in the statements referred to in paragraph 1 and shall supply all the additional information prescribed by the accounting rules referred to in Article 47 of this Regulation and the internationally accepted accounting practice where such information is relevant to the PPP body's activities. The notes shall contain at least the following information:
(a)
accounting principles, rules and methods;
(b)
explanatory notes, supplying additional information not contained in the body of the financial statements, which is necessary for a fair presentation of the accounts.
4. The accounting officer shall, after the close of the financial year and up to the date of transmission of the general accounts, make any adjustments which, without involving disbursement or collection in respect of that year, are necessary for a true and fair view of those accounts.
Budget implementation reports
1. The budget implementation reports shall be presented in euro and shall be comparable year by year. They shall consist of:
(a)
reports which aggregate all budgetary operations for the year in terms of revenue and expenditure;
(b)
explanatory notes, which shall supplement and comment on the information given in the reports.
2. The structure of the budget implementation reports shall be the same as that of the budget of the PPP body itself.
3. The budget implementation reports shall contain:
(a)
information on revenue, in particular, changes in the revenue estimates, the revenue outturn and entitlements established;
(b)
information showing changes in the total commitment and payment appropriations available;
(c)
information showing the use made of the total commitment and payment appropriations available;
(d)
information showing commitments outstanding, those carried over from the preceding financial year and those made during the financial year.
Provisional accounts and final accounts
1. The accounting officer of the PPP body shall send the provisional accounts to the accounting officer of the Commission and to the Court of Auditors by 1 March of the following year.
The accounting officer of the PPP body shall also provide by 1 March of the following year the required accounting information for consolidation purposes to the accounting officer of the Commission, in the manner and format laid down by the latter.
2. In accordance with Article 246(1) of Regulation (EU, Euratom) 2018/1046, the Court of Auditors shall, by 1 June, make its observations on the provisional accounts of the PPP body.
3. The accounting officer of the PPP body shall provide, by 15 June, the required accounting information to the accounting officer of the Commission, in the manner and format laid down by the Commission, with a view to drawing up the final consolidated accounts.
On receiving the Court of Auditor's observations on the provisional accounts of the PPP body, the accounting officer shall draw up the final accounts of the PPP body. The director shall send the final accounts to the governing board which shall issue an opinion on these accounts.
The director shall send the final accounts, together with the opinion of the governing board, to the accounting officer of the Commission, the Court of Auditors, the European Parliament and the Council, by 1 July of the following financial year.
The accounting officer of the PPP body shall also send to the Court of Auditors, with a copy to the accounting officer of the Commission, a representation letter covering those final accounts. The representation letter shall be established at the same date at which the final accounts of the PPP body are drawn up.
The final accounts shall be accompanied by a note drawn up by the accounting officer in which the latter declares that the final accounts were prepared in accordance with this chapter and with the applicable accounting principles, rules and methods.
A link to the pages of the website where the final accounts of the PPP body are disclosed shall be published in the Official Journal of the European Union by 15 November of the following year.
The director of the PPP body shall send to the Court of Auditors a reply to the observations made in the Court of Auditors annual report by 30 September of the following financial year at the latest. The replies of the director shall be sent to the Commission at the same time.
Annual report on budgetary and financial management
1. The PPP body shall prepare a report on budgetary and financial management for the financial year. This report shall give an account, both in absolute terms and expressed as a percentage, at least, of the rate of implementation of appropriations together with summary information on the transfers of appropriations among the various budget items.
2. The director shall send the report on budgetary and financial management to the European Parliament, the Council, the Commission and the Court of Auditors by 31 March of the following financial year.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
