Yearly report on use of funding

Organisations receiving funding must submit a report to RAY by the end of April each year showing how the previous year’s funding was utilised. RAY’s report forms should be used for this purpose. In addition to the forms, the report should also contain the following attachments

• annual report
  
• income statement
  
• balance sheet with notes
  
• breakdowns of financial statement items
  
• auditors’ report

The yearly report is used to ensure that the funded operation or project is in line with the funding application and decision, and that the funding conditions have been complied with.

The report is also used to assess the operational and financial situation of the organisation. The information contained in the report is compared with that shown in the relevant funding application: how successfully have the objectives been achieved?

The forms needed can be found in the Resource Bank (in Finnish)