Common use of VERIFICATION OF EXPENDITURE Clause in Contracts

VERIFICATION OF EXPENDITURE. 1. Each project progress report and the final report submitted by the LP to the MA via the JS must be accompanied by certificates confirming the eligibility of expenditure, both at LP and PP level. Certificates attesting the validation of expenditure shall be issued by the national controllers as referred to art. 46 (3) of the Interreg Regulation according to the system set up by each programme participating country and in compliance with the legal framework in art. 1. 2. In case the LP or PP is located in a participating country where national control system is decentralized, the MA reserves the right, after the agreement with the national responsible institution, to request that the controller is replaced if considerations – unknown when the contract was signed with controller – cast doubts on the controller’s independence or professional standards. 3. Information on the controllers, including its coordinates updates, shall be notified by the LP on behalf of the project PPs to the MA via the JS in accordance with the rules of the Implementation Manual. 4. In line with Article 26 (1) (c) of Interreg Regulation the LP shall ensure that expenditure presented by other PPs has been verified by the appointed controllers and that corresponds to the agreed activities reported in the approved application form. 5. All expenditure shall be reported in Euro (EUR). Expenditure incurred by LP and PPs in a currency other than the EUR shall be automatically converted into EUR by JEMS by using the monthly accounting exchange rate of the European Commission in the month during which expenditure is submitted for verification to the national controller. 6. The exchange rate risk is borne by the concerned LP/PP.