Respect for budgetary principles
- Run your PPP body budget according to key accounting principles
Retained EU Law
2019
United Kingdom
Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council
At a glance
What's here
24 compliance obligations
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Principle of equilibrium
- Keep your PPP body's budget in balance — no borrowing allowed
Principle of unit of account
- Use euro for PPP body budget, implementation and accounts
Principle of sound financial management and performance
- Manage appropriations in line with sound financial management principles
Internal control of budget implementation
- Implement effective internal controls for budget management
Principle of transparency
- Publish budget and recipient information on website
Estimate of revenue and expenditure
- Send annual budget estimate and work programme to the Commission
Establishment of the budget
- Governing board must adopt annual budget and staff plan by year-end
Budget implementation in accordance with the principle of sound financial management
- Implement budget with sound financial management and ensure compliance
Protection of the financial interests of the Union
- Include fraud-reporting clauses in external auditor contracts
Accounting officer
- Governing board must appoint an independent accounting officer
Conflict of interests
- Prevent and manage conflicts of interest in PPP bodies
Appointment, powers and duties of the internal auditor
- Maintain internal audit function and act on recommendations
Members' contribution
- Pay your contribution to the PPP body when requested
Implementation of expenditure
- Adopt and publish annual work programme with required content
Forms of the PPP body contributions
- Consider recipients' interests when choosing contribution form
Information to the Commission on cases of fraud and other financial irregularities
- Notify the European Commission of suspected fraud and financial irregularities
Grants
- Use authorised lump sums, unit costs or flat rate financing for grants
Accounting rules
- Set up and maintain a proper accounting system
Structure of the accounts
- Prepare annual accounts for each financial year
Annual report on budgetary and financial management
- Prepare and send annual report on budgetary and financial management
External audit
- Appoint an independent external auditor for annual accounts
On-the-spot checks by the Commission, the Court of Auditors and OLAF
- Grant EU auditors access to premises and information
Adoption of the PPP body's financial rules
- Adopt or revise your PPP body's financial rules
Browse 38 other sections — procedural / definitional / commencement
Subject Matter
Definitions
Scope of the budget
Principles of unity and of budgetary accuracy
Principle of annuality
Commitment of appropriations
Principle of universality
Corporate sponsoring
Principle of specification
Segregation of duties
Powers and duties of the authorising officer
Ex ante controls
Ex post controls
Consolidated Annual Activity report
Liability of the financial actors
Independence of the internal auditor
Establishment of an internal audit capability
Implementation of revenue
Time limits
Cross-reliance on assessments
Cross-reliance on audits
Use of already available information
Cooperation for protection of the financial interests of the Union
Early-detection and exclusion system
Rules on procedures, management and e-government
Procurement
Experts
Prizes
Supporting documents
Financial statements
Budget implementation reports
Provisional accounts and final accounts
Timetable of the discharge procedure
The discharge procedure
Follow-up measures
Information requests
Repeal
Entry into force
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