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EC publishes Consultation Report on review of the Financial Regulation

The European Commission has published a Consultation Report which summarises the content of the contributions to the public consultation on the second triennial review of the Financial Regulation. The report provides a summary of all answers to the specific questions from the consultation document. It also describes the next steps to be undertaken by the Commission in the coming months.

Most citizens and organisations pleaded for more flexibility on co-financing depending on the nature of the project and asked for more flexibility in applying the non-profit rule. Most respondents also supported the use of lump sums and flat rates, but were divided on the issue of costs based on expected outputs. A large majority of respondents expressed dissatisfaction about pre-financing payments and reimbursement of interests, suggesting not recovering interests or calculating them based on a standard formula and deducting them.

EARTO was one of the respondents.

The Commission will make a proposal for the second review of the Financial Regulation since its adoption in 2002 by mid-2010 (probably mid-May). The revised Financial Regulation will be adopted jointly by the European Parliament and the Council, after consultation of the Court of Auditors. The Commission will also propose a revised version of the Implementing Rules. The whole process is expected to take up to two years until completion. Once both texts are revised, internal guidelines of the Commission on specific policy areas will probably require changes. The Commission noted that in many cases, the interpretation or the application of the rules at different levels can provide for solutions, and that as such, not all problems encountered in budget implementation will be solved by changing the rules themselves.

Link to the Consultation Report

Link to EARTO's response to the consultation on review of the Financial Regulation