Final Report on the Framework Agreement for 2008–2009

Table 5 Expenditures versus funding 2008 and 2009 (in Norwegian Kroner)

Other Projects TOTAL The major work and risk elimination for the 2009 financial closing has been to review all projects in order to have a correct funding balance and overview over invoicing, reporting and remaining costs to finalize the projects. This review leaded to a reallocation of funding between the programmes as showed in column 3 and 4 above. In 2009 project income was generated from 171 different projects. 45 projects are closed in 2009 and at present 120 projects are open. All income needs to be funded or loss has to be taken if funding is not available. In 2009 reallocation of funding has been made on very few projects to cover overspending or underfunding. In 2008 a major income write-down of MNOK 3,8 was taken in December caused by underfunding on projects. In 2008 and first half of 2009 there has been challenges to reconcile financial figures on funding and expenditures in our separate project management system and accounting system. As of 2010 all bookings of funding, funding classes and allocation to projects are integrated and booked separate in the accounting system Xledger in order to obtain a correct financial balance on project level. 54 160 555 47 080 844 7 079 711 ! "#$%&'(#)*+,-*./0*1(%%(,#*&23'*,&42('3*56*78,)89113* The transfer of funding into 2010 (last column above, MNOK 7,4) consists of MNOK 4,2 accrued, not invoiced 2009 and MNOK 3,2 received or invoiced, but not spent on projects at year end 2009. MoFa Framework funding from 2008 and 2009 and core funding are not carried over to 2010. The project reviews shows that remaining funding should be sufficient to deliver output according to the contracts with clients. 1 350 000 2 385 686 -1 035 686

With a new Finance and Project Controller in work these tasks can be monitored and followed up regularly and finance- and resource management on project level and general planning can be further improved in 2010.

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