Financial Milestones and Reporting

The ARC and NHMRC require annual financial reporting as a condition of funding. This is done in the End of Year financial report, generated jointly by the College Research Office (CRO), the College Finance Office and Special Purpose Funds (SPF).

The deadline for submission of the ANU’s EOY report is 31 March each year for both the ARC and NHMRC.

• ARC
• NHMRC

ARC

The ARC end of Year report is the mechanism whereby the ANU requests to carry forward any unspent funds from one calendar year into the next and requests recompense for any and all approved maternity leave variations from the previous calendar year.

In approximately mid-February, Special Purpose Funds sends financial reports to Colleges/ Local Business Offices. Colleges/ Local Business Offices are then to advise variations, confirm whether or not a carry-forward or recovery is required, provide a carry-forward reason if required, and obtain a carry-forward letter of explanation from the researcher if necessary.

For carry-forward requests that will extend the project more than 12 months past the original end date of the grant, special dispensation from the ARC must be obtained. If such a carry-forward is requested (e.g. original grant period ends 31/12/2007, carry-forward was approved to 31/12/2008, and another carry-forward is now being requested), then a letter of detailed explanation must be provided with the End of Year Report (see carry forward request proforma below)

In circumstances where less than 25% of the funds allocated for the previous year were spent (excluding any funds previously carried forward) a detailed letter explaining why less than the minimum required expenditure occurred must be provided with the End of Year Report. (see carry forward request proforma below)

College Research Offices please refer to the following instructions for End of Year Financial Reporting:

• Intructions and timeline for College/ Local Business Offices requesting a carry forward of funding (doc)

• Carry Forward Request Proforma

In Principle Carry Forward Requests
In Principle carry forward requests should only be made in exceptional circumstances and can be made before the End of Year report (31st of March each year) when Carry Forward requests are made.

RO-AV8: In Principle Carry Forward Approvals

 

NHMRC

In accordance with the NHMRC Deed of Agreement all certified Administering Institutions are required to submit financial reports for each individual funded project annually.

In addition to the annual financial report, the NHMRC requires Administering Institutions to submit a final financial report no later than 6 months after the funding period has been completed or 6 months after termination of the funded project. The total of all monies received for the duration of funding must be reported on this form. Any unspent funds must be returned to the NHMRC. No additional funding will forwarded on behalf of a funded project where excess expenditure has been incurred over and above the awarded budget.

Where a funded project will not be completed within the awarded funding timeframe the Administering Institution may request from the NHMRC an extension of the funding period to enable completion of the research project. Advice stating the approximate amount of carry forward funds should be noted in the request. The request must reach the NHMRC by 31 December of the final year of funding. The NHMRC will respond to the request in writing.

All unspent funds to a maximum of 25% of the budget for a given year will be treated as an automatic carry forward of funds into the following year. Where carry forward or unspent funds exceed the allowed 25% then a written justification is required. The NHMRC will advise the institution of approval to carry forward funds in excess of 25% or seek further clarification if there is any doubt to the viability of the research project.

• NHMRC Financial reporting information