Participating States' contributions to PRIMA
Article 5
1. The Participating States shall make or arrange for their national funding bodies to make contributions, whether financial or in kind, of at least EUR 220 000 000 during the period from 7 August 2017 until 31 December 2028. 2. The Participating States' contributions shall consist of the following: (a) where appropriate, financial contributions to PRIMA-IS in view of funding indirect actions referred to in point (a) of Article 6(1); (b) financial or in-kind contributions in implementing activities referred to in point (b) of Article 6(1); and (c) financial or in-kind contributions to the administrative budget of PRIMA-IS not covered by the Union financial contribution as set out in point (b) of Article 3(3). 3. In-kind contributions referred to in point (b) of paragraph 2 of this Article shall consist of costs incurred by the Participating States in implementing activities referred to in point (b) of Article 6(1), less any direct or indirect Union financial contribution to those costs. 4. In-kind contributions referred to in point (c) of paragraph 2 shall consist of costs incurred by the Participating States in relation to the administrative budget of PRIMA-IS, less any direct or indirect Union financial contribution to those costs. 5. For the purpose of valuing the in-kind contributions referred to in points (b) and (c) of paragraph 2, the costs shall be determined in accordance with the usual accounting practices of the Participating States or the national funding bodies concerned, the applicable accounting standards of the Participating State where the national funding bodies concerned are established and the applicable International Accounting Standards and International Financial Reporting Standards. The costs shall be certified by an independent auditor appointed by the Participating States or the national funding bodies concerned. Should there be any uncertainty arising from the certification, the valuation method may be verified by PRIMA-IS. In the event of remaining uncertainties, the valuation method may be audited by PRIMA-IS. 6. Contributions referred to in points (a), (b) and (c) of paragraph 2 of this Article counting as contributions from Participating States shall be made after the adoption of the annual work plan. If the annual work plan is adopted during the reference year referred to in Article 6(2), the contributions referred to in point (c) of paragraph 2 of this Article, counting as contributions from Participating States included in the annual work plan, may comprise contributions made as from 1 January of that year. However, the contributions referred to in point (c) of paragraph 2 of this Article, counting as contributions from Participating States included in the first annual work plan, may comprise contributions made after 7 August 2017.