Financial measures for increasing the absorption of EU funds

In the Official Gazette of Romania, part. 1, no. 223 of 18 April 2013 was published Government Emergency Ordinance no. 27/2013 for amending and supplementing Government Emergency Ordinance no. 64/2009 regarding financial management of structural instruments and their use for the convergence objective, and to adopt financial measures in order to increase the absorption of EU funds.

The Emergency Ordinance establishes measures for optimizing the financial flows of operational programs financed from structural instruments and to ensure the absorption capacity of these funds so that to provide the necessary funds to the Certifying and Paying Authority /Authorities of management for making payments in shortest time possible with result of inclusion in weekly expenditure statements to E.C.

The Emergency Ordinance adopted by the Government is targeting to amend the legislative system for adoption properly measures to allow cash flow so as to provide the necessary funds at the Certifying and Paying Authority/ Management Authorities to make payments in the shortest time possible with result in inclusion these in weekly expenditure statements to E.C.
Thus, it is established that the Ministry of Finances can allocate temporary, in 2013, for ensuring payments to the eligible reimbursable expenses financed by EU funds, and for the eligible reimbursable expenses to the structural instruments from payments request, amounts of income from privatization in current and foreign currency recorded in the current account of the Treasury and the current account in foreign currency of the Ministry of Public Finances opened at Nation Bank of Romania.

It also introduces in the content of GEO. 64/2009, a new chapter regarding the mechanism of settlement the payment requests. This Mechanism applies only to beneficiaries who are authorizing officers of the local budget and find themselves unable to pay bills for services/goods/ works which are accepted at payment.

The beneficiary shall bring to the Intermediate Body /Managing Authority the payment request and the relevant documents.

After examining payment request, the Managing Authority will transfer to the beneficiary the amount of reimbursable expenses and related value added tax.
The beneficiary will make the payment representing the value of their own contribution and ineligible expenses from its own sources in the same day with payment of the transferred funds by the Managing Authority.

After all these operations, the beneficiary is bound to submit a request for reimbursement that includes the bills settled by payment request.

Management Authorities who decides to use this mechanism will release instructions on how to submit a request for payment, and document accompanying these requests.

>> The source: JURIDICE.ro

student, Universitatea din Bucuresti, Facultatea de Drept
intern Societatea de Stiinte Juridice

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