€639bn worth of ESI Funds have been allocated to OPs in the 2014-20 programming ; Only 5% has been spent by selected projects so far*.  As the implementation of the 2014-20 Programmes approaches its midway point in 2018, much effort will be dedicated by Member States to ramp up project delivery and absorption of ; OPs have taken their necessary course to be approved, a new designation process was followed, new management and control systems set up, new guidelines established, and new simplification and digitisation measures ; All this whilst having resources tied up in the closure of the previous programming ;   

Alarming as it may seem, however, this is a relatively familiar ; It’s the cycle of EU funds.

Attentions have now been diverted to achieving the results promised for this 14-20 ; Indeed, much discussion has been dedicated to the reinforced emphasis on result-orientation and effectiveness this time ; Performance management is the way to go to overcome the obsession with absorption in favour of more value for ; This is legitimate, but let’s not forget that financial management – with its focus on inputs and outputs – makes up two-thirds of the coveted ‘VFM’ or sound financial management sought after by the EU ; So let’s focus also on the means to arrive at the final third of the pie, the results.

Financial Management Toolkit: carrying out administrative and on-the-spot verifications delivers a complete, practical toolkit for the implementation of the EU budget and the performance of management verifications on EU-funded ; It is designed for all levels of experience, from beginner to the most seasoned managers and ; It provides an extended update on latest developments in the verification and certification of the ESI funds, delivering insight into the errors which still prevail, the controls which are working and those which are not, the state of public procurement after the Directives and national transpositions, the simplification measures, result-orientation, financial instruments, state aid, revenue-generating projects, horizontal priorities, and the monitoring of indicators, amongst other.  

* as at 31st July 2017, ;