Acquittal Agreement

The grant acquittal reports generally required the following information: acquittal reports detailing how the grant was spent and the results of the funded activity. Exemptions are necessary to ensure compliance with the obligations of both parties. They are also used to assess funded activities and to monitor the effectiveness of scholarship categories in order to meet the Community`s future expectations. Once Creative Victoria has received and accepted your acquittal report, you will have fulfilled all of your obligations in the financing agreement. Many funding agreements require the payment of the recipient of the funding to the organization that provides the funding. The acquittal can take a number of forms and often depends on the level of funding from whom it will receive or what it will be received for. The first funding agreement specifies the need for an acquittal report and indicates the date on which the report is to be submitted. Acquittal reports are generally required within eight weeks of the end of the project; However, you should start documenting the information when the project is about to be completed. In some cases, regular reports on the major stages of project preparation are required. If you are unsure of the report you need to submit as part of your annual report or the information you need to provide, please contact the liaison officers listed in the funding contract. The information you provide in your acquittal report will be as follows: If you receive a grant from Creative Victoria, you will be asked to close an acquittal report, including financial reconciliation, at the end of your funded activity, which assesses the project and takes into account how the funds were spent.

Make sure your financing contract is subject to specific payment requirements, in addition to the following models. The acquittal is an applicant`s report that details the results of the projects and the use of the funds received by the Commission. This should be in line with their funding agreement. All grants must be paid and concluded online. If you do not submit an acquittal report or if your report is not satisfactory, you cannot request further credits or receive other payments from the Australia Council. The acquittal must be against the funder and the review of the acquittal often has an impact on the eligibility of future funding, so it is important to respect funding agreements. Check the acquittal procedures or continue reading for more information on acquittals. Some acquittals require audited financial statements in accordance with Australian accounting standards for financing, if financial information relating to the activity fairly represents financial transactions and is based on accounts and proper records.