FINANCIAL REPORTING CHECKLIST

Project Financial Reporting Checklist

Project ID:
Reporting period:
Report deadline (if any):
Date report is received (For RAS):
Report is to be submitted locally
or via DRD, RO Brussels or
CORMF Washington:

SECTION I

Mission RAS
General Procedures Completed Completed
Notes/ Comments Notes/ Comments
(Yes/No/ (Yes/No/
Not Not
Applicable) Applicable)
1. The standard IOM reporting template has been used
(Annex 5.2 of IOM Project Handbook) unless
otherwise stipulated in the donor agreement and
correctly titled "Interim" or "Final"?
2. Period of financial report:
a. Period stated agrees to signed agreement or
approved extension?
b. The period is cumulative from the start of
the project?
c. The period is that as requested by the donor
(e.g., six months)?
d. If an extension has been granted or a
budget revision approved, documentation
has been forwarded to Project Information
Unit (PIU), PRISM Central Support Team
(PCST) and Manila Budget Support (MBS)?
For PRIMA projects, updated in PRIMA/
PRIMA IDF?
3. Project title is consistent with the agreement?
4. Budget (if required by the donor) agrees to the last
donor-approved budget submitted to the donor and
to the total funding?
5. Reporting currency and overhead rate agrees
with the approved donor agreement or
amendments thereto?
If with Implementing partners (IPs), is there a
deviation on IOM rules for OH? IOM does not
apply OH to IP expenses? Do IPs share/get the
OH related to their expenses? If yes, ACO
approval obtained?
6. Contributions reported figures are based on actual
funding received?
7. Contributions received, expenses incurred, and
balance figures agree with PRISM for the period
stated and the expense categorization agrees to
PRISM? (If not, a full accounts reconciliation to
PRISM has been prepared for review?
8. Agreement is verified if there is Co-funding/
Synergy requirement (i.e EC projects)? If yes, all
expenses are captured in the report? There is no
missing or excess Co-funding before endorsement?
9. Variances against budget are reviewed and
considered reasonable and justifiable? Expenses
has not exceeded the variance threshold against
the budget? Check the agreement or if there is
 SECTION I

Mission RAS
General Procedures Completed Completed
Notes/ Comments Notes/ Comments
(Yes/No/ (Yes/No/
Not Not
Applicable) Applicable)
standard threshold according to donor. Significant
variances duly coordinated and approved by Donor
and explained in the narrative report, as applicable?
10. Final financial reports – additional procedures
stated in Section II have been fully addressed?

11. Financial data in the narrative report is consistent

with the financial report, for example in terms of:
a. project title?
b. reporting period?
c. total confirmed funding and
contributions received?
d. total expenses?
e. any mentions of quantities and costs?
12. Balance reported:
a. Does the report show a receivable balance?
b. If so, have further funds (balance or next
instalment) been requested from donor?
c. Does the report show a balance of funds
carried forward?
d. If so, has agreement been reached with donor
on reallocation or repayment?
e. Payment request submitted to donor (if
applicable) has been shared with Revenue to
record the revenue receivable?
13. Financial report has been sent to the appropriate
reviewer together with this checklist and the
standard accounts reconciliation?
14. Corresponding narrative report has been sent to the
appropriate reviewer?

FOR RAS USE ONLY

15. Outstanding issues have been communicated with
the office and cleared?
16. Has the report been cleared for submission to donor?
Final PDF version with endorsement stamp has been
sent to Mission for signature of Project Manager?
17. For non-PRIMA projects, reminder sent to Mission to
send the complete donor report submission package
to PIU?

SECTION II

Mission RAS
Additional Procedures for Final Financial Report Completed Completed
Notes/ Comments Notes/ Comments
(Yes/No/ (Yes/No/
Not Not
Applicable) Applicable)
1. Commitments are cleared – there should be no
open commitments including assets (T-code ZDSR /
ZLI)?
For pending commitments due to audit or
evaluations, has office provided the relevant
documents to RAS?
2. Are there any outstanding payables (e.g.
expense recorded but not yet paid) related
to the project?
If yes, mission to provide justification and
planned time frame for processing the
 SECTION II

Mission RAS
Additional Procedures for Final Financial Report Completed Completed
Notes/ Comments Notes/ Comments
(Yes/No/ (Yes/No/
Not Not
Applicable) Applicable)
payment. Please note some donors require
specific mention of such items in the
narrative report.
3. No outstanding items in GL account 210120 “Staff Travel
Cost” (T-code FBL3N, filter by WBS)?
4. No double charging of expense (T-code ZME2 - open
MIRO), check the possibility of erroneous use of
FB60 instead of MIRO?
5. Assets charged to the project are valid, check the
possibility of double asset acquisition (T-codes
ZASSETLIST and cross reference to AW01N)?
6. Check the disposition of assets? For return to donor,
retained by IOM or for donation?
7. Beneficiary assets (Class 6000) are retired upon transfer
(T-code ZASSETLIST)?
8. Unacquired assets are verified for validity (T-
code ZUPA)?
9. Review charges beyond the project implementation
date and verify validity from Mission. If subsequent
charges are material, Mission to provide explanation in
the narrative report?
10. Mission to confirm no additional charges to the
project are incurred?
11. Review if there are special reporting requirements
(i.e. interest income, taxes, asset handback)?
12. For OFDA/USAID funded projects, is Annex for budget
and expenses per sector also submitted together with
the draft Final Financial Report?
13. Financial report is endorsed by RO Brussels for ECHO
and EU-funded projects centrally contracted by the
EU in Brussels?
14. For Mission, the project's user status has been
changed to TECO to avoid subsequent postings?
For RAS, change the project's system status to TECO if
project balance (both in object and local currency) is
zero and final financial report has been endorsed?

FOR RAS USE ONLY

15. Interest income is calculated based on IOM rates

except for those with special requirements as stated
in the agreement?
16. Interest income is reported in the financial report and
recorded against the project?
17. Object/Project Currency is zero. If no, coordinate
clearance with the mission?
18. Company Code/Local currency is zero (for projects
reported in foreign currency). If no, prepare the
clearing entry?
19. Update the endorsement number and endorsement
date in PRISM?

Revised: 19 Nov 2021

Prepared by:
Date submitted for review:
 FOR RAS USE ONLY

Reviewer (RAF)/ Date:

Reviewed by (Supervisor)/ Date:
Endorsement No.:
Date of report endorsement:

Reviewer Notes:
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