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C 326/50 EN Official Journal of the European Communities 27.12.

2002

REPORT
on the financial statements of the European Training Foundation for the financial year 2001,
together with the Foundation’s replies
(2002/C 326/07)

CONTENTS
Paragraph Page

THE COURT’S OPINION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-4 51

MAIN OBSERVATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-11 51

Budgetary implementation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-6 51

Financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7-10 51

Application of the financial provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 52

Tables 1 to 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53

The Foundation’s replies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56


27.12.2002 EN Official Journal of the European Communities C 326/51

THE COURT’S OPINION 6. The appropriations available amounted to 19,4 million


euro, of which 16,8 million euro were granted for 2001 and 2,6
million euro carried over from the previous financial year. Almost
all of the appropriations for the financial year 2001 were com-
1. This Report is addressed to the Governing Board of the mitted and disbursed in payments amounting to 13,2 million
European Training Foundation in accordance with Article 11(4) euro, i.e. 79 % of the commitments entered into. The balance of
of Council Regulation (EEC) No 1360/90 (1). the appropriations was either carried over (3,5 million euro) or
cancelled (0,5 million euro). Almost all of the operating appro-
priations (Title III), i.e. 5,2 million euro, were committed and a
2. The Court has examined the financial statements of the total of 2,6 million euro was carried over. The extent of these
European Training Foundation for the financial year ended carry-overs, equal to 50 % of the commitments, reveals the need
31 December 2001. In accordance with Article 11(1) of Council for the Foundation to improve the quality of its planning and the
Regulation (EEC) No 1360/90, the budget was implemented on monitoring of its work. The appropriations carried over from the
the responsibility of the Director. This responsibility included the previous financial year totalled 2,6 million euro, 0,2 million of
drawing-up and presentation of the financial statements (2) in which lapsed at the end of the financial year. The Foundation
accordance with the internal financial provisions provided for in should do its utmost to reduce the delays in the implementation
Article 12 of Council Regulation (EEC) No 1360/90. The Court of of its annual programme in order to improve compliance with the
Auditors is required under Article 248 of the Treaty establishing principle of budgetary annuality.
the European Community to audit these accounts.

3. The Court carried out the audit in accordance with its


Financial statements
auditing policies and standards. These have been adapted from
generally accepted international auditing standards to reflect the
specific characteristics of the Community context. The Court car-
ried out such tests of the accounting records and applied such
other procedures as it deemed necessary in the circumstances.
Through this audit the Court obtained a reasonable basis for the 7. The revenue and expenditure account and balance sheet
opinion expressed below. published by the Foundation in its activity report for the financial
year 2001 are presented in summary form in Tables 2 and 3.

4. This examination has enabled the Court to obtain reason-


able assurance that the annual accounts for the financial year
ended 31 December 2001 are reliable and that the underlying 8. In previous reports (4) the Court drew attention to the
transactions, taken as a whole, are legal and regular. management of the PHARE and TACIS programmes. In 2001 the
total sum of these programmes amounted to 232,8 million euro,
210,0 million of which were committed, giving rise to 185,9 mil-
lion in payments. These programmes are managed outside the
budget. The balance (37,8 million euro at 31 December 2001) of
the bank accounts available to the Foundation for managing these
programmes does not appear in the financial statements. Finan-
MAIN OBSERVATIONS cial information in respect of these programmes is shown by the
Foundation in an annex to its financial statements.

Budgetary implementation

9. The Foundation does not depreciate its fixed assets. It


5. Table 1 (3) shows the implementation of the appropria- should apply the valuation and depreciation rules adopted by the
tions for the year 2001 and the appropriations carried over from Commission (5) so that the book values faithfully reflect the real
the previous financial year. value of the goods which form part of its assets.

(1) OJ L 131, 23.5.1990, p. 4.


(2) As required under Article 11(3) of Council Regulation (EEC) 10. The inventory records are not reliable because no physi-
No 1360/90, the accounts for all the Foundation’s revenue and expen-
cal inventory has been carried out since 1999. They include lost
diture for the financial year 2001 were drawn up on 27 March 2002
and forwarded to the Foundation’s Governing Board, the Commis- or obsolete goods and no inventory withdrawal can be made. The
sion and the Court of Auditors. These accounts were received by the Foundation should give priority to updating its inventory.
Court on 8 April 2002. A summarised version of these financial
statements is presented in the tables annexed to this Report.
3
( ) All the tables in this Report were drawn up on the basis of the most
exact values possible for the data used. For presentation purposes, the (4) See paragraph 11 of the report concerning the financial year 1999
figures were rounded up or down, which may produce minor differ- (OJ C 373, 27.12.2000, p. 34).
ences in the totals. A dash indicates a non-existent or nil value and (5) Commission Regulation (EC) No 2909/2000 of 29 December 2000
0,0 indicates a value below the rounding threshold. (OJ L 336, 30.12.2000, p. 75).
C 326/52 EN Official Journal of the European Communities 27.12.2002

Application of the financial provisions may be made. No system has been introduced, however, to ensure
that this maximum is not exceeded.
11. The Foundation often makes use of framework contracts.
These contracts stipulate the maximum amount of purchases that

This report was adopted by the Court of Auditors in Luxembourg at its meeting of 25 and 26 September 2002.

For the Court of Auditors


Juan Manuel FABRA VALLÉS
President
27.12.2002
EN
Table 1
Implementation of the budget for the financial year 2001 (1)
(Mio EUR)

Revenue Expenditure

Official Journal of the European Communities


Final budget appropriations Appropriations carried over from the Appropriations available
Revenue entered previous financial year (2001 budget and financial year 2000)
in the final Revenue Allocation of
Source of revenue expenditure
budget for the received
financial year commit- carried commitments appro- commit- carried
entered paid cancelled paid cancelled paid cancelled
ted over outstanding priations ted over

Community Title I
subsidies 16,8 16,8 Staff 10,2 10,2 9,7 0,5 0,0 0,2 0,2 — 10,4 10,4 9,9 0,5 0,0

Title II
Other subsidies p.m 0,3 Administration 1,4 1,4 0,9 0,5 — 0,5 0,4 — 1,9 1,9 1,3 0,5 —

Title III
Operating
Other revenue p.m 0,05 activities 5,2 5,2 2,6 2,6 0,0 1,9 1,8 0,2 7,1 7,1 4,4 2,6 0,2

Total 16,8 17,1 Total 16,8 16,8 13,2 3,6 0,0 2,6 2,4 0,2 19,4 19,4 15,6 3,6 0,2

(1) The budget does not include the appropriations granted by the Commission to finance programmes which the Foundation manages on its behalf.
NB: Any discrepancies in totals are due to the effects of rounding.
Source: Foundation data. These tables summarise the data supplied by the Foundation in its own financial statements.

C 326/53
C 326/54 EN Official Journal of the European Communities 27.12.2002

Table 2
Revenue and expenditure account for the financial years 2001 and 2000 (1)
(1 000 EUR)
2001 2000

Revenue received during the financial year


Commission subsidies 16 800 16 200
Miscellaneous revenue 47 240
Financial revenue 290 2

Total revenue (a) 17 137 16 442

Budgetary expenditure for the financial year


Staff — Title I of the budget
Payments 9 746 9 952
Appropriations carried over 356 258

Administration — Title II of the budget


Payments 862 890
Appropriations carried over 541 472

Operating activities — Title III of the budget


Payments 2 572 2 608
Appropriations carried over 2 595 1 920

Total expenditure (b) 16 672 16 100

Outturn for the financial year (2) (a-b) 465 342

Balance carried over from the previous financial year 3 352 2 812
Appropriations carried over from the previous financial year which lapse 242 227
Exchange-rate differences – 20 – 29

Balance for the financial year 4 055 3 352

(1) The revenue and expenditure account and balance sheet only take account of the Foundation’s specific activities: they ignore the managed programmes.
(2) Calculated according to the provisions of Article 15 of Council Regulation (EC, Euratom) No 1150/2000 of 22 May 2000 (OJ L 130, 31.5.2000, p. 8).
NB: Any discrepancies in totals are due to the effects of rounding.
Source: Foundation data. These tables summarise the data supplied by the Foundation in its own financial statements.
27.12.2002 EN Official Journal of the European Communities C 326/55

Table 3
Balance sheet as at 31 December 2001 and 31 December 2000 (1)
(1 000 EUR)

Assets 2001 2000 Liabilities 2001 2000

Fixed assets Fixed capital


Equipment and furniture 618 617 Own capital 2 238 2 010
Computer equipment 1 565 1 373 Balance for the financial year 4 055 3 352
Subtotal 2 183 1 990 Subtotal 6 293 5 362

Stocks 55 21 Current liabilities


Automatic carry-overs of appropriations 3 492 2 704 (2)
Current assets Adjustment to carry-overs 24 0
Sundry accounts payable 176 67
Sundry accounts receivable 203 215 Deductions from salaries 0 130
Subtotal 203 215 Commission and other contributors 502 10
Subtotal 4 194 2 911
Cash accounts
Bank accounts 8 011 6 054 Suspense accounts
Sums to be reused 2 0
Imprest account 42 105
Payments in progress 5 111
Subtotal 8 053 6 159 Subtotal 7 111

Total 10 495 8 385 Total 10 495 8 384


1
( ) The revenue and expenditure account and balance sheet ONLY take account of the Foundation’s specific activities: they ignore the managed programmes.
(2) Including 54 000 euro in differentiated appropriations for commitments carried over from the previous financial year.
NB: Any discrepancies in totals are due to the effects of rounding.
Source: Foundation data. These tables summarise the data supplied by the Foundation in its own financial statements.
C 326/56 EN Official Journal of the European Communities 27.12.2002

THE FOUNDATION’S REPLIES

Financial statements The Foundation plans to launch a complete input of property


records in the new inventory system by the end of November to
replace completely the old systems and records. The record input
8. Budget management of Phare and Tacis programmes will be based on a physical inventory to be carried out first.

The Foundation is working on the integration of Tempus conven-


tions into the budgetary accounting system (SI2), starting from
In this framework, the Foundation has drafted guidelines, includ-
the technical assistance conventions. Tempus budgets have so far
ing work flows and responsibilities for asset identification, regis-
had extra-budgetary management as specifically requested by DG
tration, management, disposal and depreciation that comply with
EAC.
Community regulations in force. These guidelines are available
upon request.
As regards other Phare, Tacis, and CARDS conventions, the Foun-
dation is evaluating the cost-benefit ratio of transferring them
into SI2 as well, since project-management services given to the
Commission are being phased out according to the agreed mid- Application of the financial provisions
term strategy of the Foundation.

11. Framework contracts


9 and 10. Depreciation and inventory

By nature, framework contracts do not indicate a maximum


The Foundation intends to apply depreciation to its non-financial amount, but only a list of prices for the various items/services,
fixed assets as from this year’s accounts. The depreciation will be which might be purchased under the contract. In the tender docu-
applied retroactively and en bloc to account for what should have ments for the selection of framework contractors the estimated
been deducted in previous years. The depreciation rates and pro- volume/amount of the services requested under the contract is
cedure applied will be based on Regulation (EC) No 2909/2000. often mentioned.

The in-house development of an electronic asset-management


system (inventory) has just been completed. The system is cur- The Finance unit and Legal service are currently working to put
rently undergoing testing, and some minor modifications will be in place a mechanism to control the level of spending under each
made before implementation. running framework contract.