Financial regulation applicable to the general budget of the Union and its rules of application
Synoptic presentation and a selection of legal texts relevant to the budget
This publication is a compilation of recently updated EU financial rules. With the new Financial Regulation as its backbone, it also contains its detailed rules of application, which are presented synoptically, i.e. alongside the Financial Regulation articles they refer to. A selection of the most relevant basic legal texts completes this practical tool for anyone dealing with the management of EU funds. In this respect this booklet follows the tradition of previous similar comprehensible handbooks appreciated by many experts for compiling all relevant information in a practical way, both for... those who will need an occasional reference and for those who will use it on a daily basis. Both the Financial Regulation and its Rules of Application were adopted in 2012 after a legislative procedure initiated by the Commission in 2010 as part of a revision of the financial rules for EU-funded programmes, and which was preceded by a public consultation in 2009. The revised Financial Regulation and its Rules of Application presented in this publication have addressed the major concerns expressed in the public consultation and have brought changes in terms of: simplification: cutting red tape, speeding up procedures, in particular the time-to-grant, and shifting the focus from paperwork to performance, accountability: ensuring enhanced sound financial management and the protection of the EU’s financial interests, and leverage: introducing financial mechanisms which will enable the mobilisation of third-party funds as leverage on EU funds. The main body of the publication follows the structure of the Financial Regulation. In its introductory part it offers the relevant legal references. Part one focuses on the common provisions, while part two describes the special provisions. Part three introduces the transitional as well as final provisions. The annexes provide a set of basic legal texts relevant to the EU budget. In the preparation of this publication, its authors took into account the positive feedback from the users of previous editions. While offering its traditional paper version, the e-version should enable not only enhanced search possibilities, but also to keep track of any future updates of the EU financial rules in the shortest possible time. The web version adapted for tablet and mobile applications should offer an experienced user practically continuous availability of this indispensable reference book.