Texts-Legal Framework

Implementation and Monitoring Processes

Process for approval of funding of Actions | Financing Processes | Implementation and Monitoring Processes |

In this page you can find information that underpin transparency and effectively support the procedure for good completion of financed projects. This information, which is very useful for agencies such as those of the E.U., the Ministry of Finance as well as other agencies that implement or monitor the implementation of OP within the framework of the 3rd CSF, involves the following:

1. Final Beneficiaries’ Obligations

2. Monitoring of the Physical and Financial Progress of Operations

3. Monitoring Process

1. Based on the community and national legal and regulatory framework regarding the 3rd CSF, Final Beneficiaries’ obligations are summarized in the following basic principles:

Compliance with national and community legal and regulatory framework,
Implementation of the Operation according to: schedule, methodology and content of work packages. Timely monthly and quarterly monitoring bulletins and the composition of the Operation’s final implementation report after its completion must also be adhered to.
The maintenance of separate accounting ledgers and financial folders containing the pertinent vouchers and expense documents, and reports on the interest arising from funds for the Operation,
compliance with the information provision and publicity regulations stated in Regulation 1159/2000,
provision of information on the Operation’s implementation progress,
facilitate the procedure for mid-term and final evaluations of Operations, provide information to the Managing Authority or to other authorized agencies and to accept and facilitate community and national monitoring.

The Final Beneficiaries' obligations are described in the Operation’s inclusion acceptance decision.

(For a detailed presentation of the final beneficiaries’ obligations, users can read the 4th Chapter of the Management Guidelines here) (in Greek, doc format)

2. The monitoring of the physical and financial progress of the Operations and sub-projects is the procedure that allows the Managing Authority to have a picture of the implementation progress of the Operations’ physical object as well as of the absorption of committed resources.

Monitoring of the physical and financial progress is realized with the following formal procedures:

The Final Beneficiary fills and submits the Quarterly Monitoring Bulletins for sub-projects to the relevant Unit B of the Managing Authority (monitoring of physical progress)
The Final Beneficiary fills and submits the Monthly Monitoring Bulletins for sub-projects to the relevant Unit B of the Managing Authority (monitoring of financial progress)
The execution of on-site inspections of the Final Beneficiary by Unit C Managing Authority staff

It must be noted that the correct completion and timely submission of the aforementioned bulletins is of great importance as they constitute tools that reflect the status of the operation at each moment in time and warn of possible deviations from the programmed implementation stages. In addition, they allow Units B of the Managing Authority to suggest possible alterations, wherever problems arise and to proceed in making necessary interventions in order to secure the regular implementation of Operations.

(For a detailed presentation of the physical and financial progress of the operations’ monitoring procedures, users can read the 6th Chapter of the Management Guidelines here) (in Greek, doc format).

3. The monitoring procedure is defined as the total of all actions which are carried out by several control and other qualified national and community bodies (such as O.P. "Education" Managing Authority, Paying Authority, Monitoring Committee etc) throughout the Operational Programme’s implementation progress.

The aim of this procedure is the assurance of the prudent and effective use of resources based on principles of good financial management.

(For a detailed presentation of the monitoring process users can read 7th Chapter of the Management Guidelines here) (in Greek, doc format)