Funded Projects accountability overview
Monthly Reports are no longer required from January 2024
With the beginning of 2024, the accountability process for Funded Projects (FP) is going to evolve. Going forward, Monthly Reports (MR) will not be required anymore.
Context?
Historically, Monthly Reports were introduced in Fund4. Each FP has had to submit the report on a monthly basis to receive payments.
Fund9 introduced a new evolution of accountability measures when Statement of Milestones (SoM) projects were introduced as a pilot. Following successful implementation, from Fund10 onwards, all projects are now milestones-based only. This means that it is the submission of Proof of Achievement (PoA) that unlocks the budget for the next milestone instead of MRs. This has introduced some duplicity in workload with legacy flow and was clearly identified as an administrative burden with diminishing effectiveness for all involved, including FPs.
The Catalyst team has paid attention to your continuous feedback and upon trialing a new process - will implement this change into the production environment.
What do I need to keep in mind as a Funded Project? As the process concerns projects from Fund4 to Fund10 (and FPs are divided into groups depending on previous requirements), please review relevant Catalyst GitBook pages to understand how the process will look like for you. This process will be observed over coming weeks and any additional relevant tweaks/updates may be introduced as necessary based on the additional feedback.
NEW PROCESS OF FUNDED PROJECTS ACCOUNTABILITY
Current categories of Funded Projects
FPs from Fund4 to Fund8 and non-SoM Fund9 FP - up to now, payment has been based on submission of Monthly Reports
FPs from Fund9 SoM-based project and Fund10 - up to now, payment has been based on submission of Monthly Reports and Proof of Achievement once applicable
New FP accountability process depending on the Fund classification
FPs from Fund4 to Fund8 and non-SoM Fund9 FP
There are 2 subgroups in this group:
Projects that actively report (MRs submitted in the last 6 months, 80% out of them approved) - Those FPs will receive monthly payments without the necessity to submit MRs. The final payment will be paid once Project Close-Out Report and Video (PCR) will be submitted and approved.
Projects that don’t report actively (didn’t submit MR regularly in the last 6 months) - Those FPs will receive outstanding funds once Project Close-Out Report and Video will be submitted and approved. There won’t be any monthly payments before project completion.
FPs in Fund9 SoM-based project
Funded Projects in this group will be paid upon Milestone completion, that is having Proof of Achievement (PoA) submitted and approved. Final payment will be paid once Project Close-Out Report & Video and PoA for the Final Milestone will be submitted and approved.
FPs in Fund10
Milestone monthly payments will be distributed without a need to submit MR. Final payment will be paid once Final Milestone is submitted and approved.
Accountability reporting processes comparison
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