The NHMRC Funding Agreement requires Administering Institutions to submit an annual Financial Statement and a final year Financial Statement (Acquittal Statement) for each grant. All Financial Statements can be submitted through RGMS either in bulk or individually. The following user guides have been developed to assist Finance Officers to submit these reports through RGMS.
- Financial Reporting – manual upload instructions (PDF, 753KB)
- Bulk Upload Template - FRU_2013_11-14_1.xls (XLS, 19KB)
The March 2013 variation to the Funding Agreement removed the requirement, commencing 1 January 2013, for Administering Institutions to calculate interest earned on unspent NHMRC grant funds and attribute it to the relevant grants.
The Chief Financial Officer (or delegate) must certify that the accounts and records underlying the Financial Statements have been maintained in accordance with Australian Accounting Standards.
Submission of Reports
The Annual Financial Statement must be submitted to NHMRC by 30 April following each calendar year of funding. A final year Financial Statement must be submitted to NHMRC no later than six months after the funding period has been completed, or six months after termination of a grant or one month after the transfer of a grant. Failure to provide the report(s) within agreed timeframes will result in consideration being given to suspending payments to all active grants held by the Administering Institution until the report(s) have been submitted.
Unspent funds and Extensions to the Funding Period
In the final year of the Grant
If it is anticipated that there will be unspent funds at the end of the approved Funding Period, a variation to extend the grant must be submitted to NHMRC, before the end date of the grant. Late extension requests are unlikely to be approved.
To apply for a grant extension, the Chief Investigator A (CIA) must submit an ‘Extend Grant Duration’ Grantee Variation request via RGMS. If the end date of a grant is 31 December, these requests may need to be submitted to NHMRC before Institutions close for the Christmas/New Year break.
If the extension is approved, an additional Annual Financial Statement may be required and the final year Financial Statement will be due six months after the new end date of the grant. If the unspent funds being brought into the new final year of the grant are greater than 25% of the annual available funds, CIA justification is required as outlined in the ‘In other than the final year of the Grant’ section below.
Note: for grants which do not have a record within RGMS, the following template is to be completed and submitted via email to email@example.com prior to the end date of the grant.
In other than the final year of the Grant
Where the unspent funds are greater than 25% of the annual available funds, CIA justification of why the funds need to be carried forward is required. NHMRC may seek further clarification before making a decision.
Carry forward of funds greater than 25% of the annual available funds may be justified on the following grounds:
- delayed start to the grant (e.g. because of delays in obtaining ethics approvals(s) or securing essential funding from partners/collaborators
- factors beyond the reasonable control of the CI (e.g. unavailability of suitable subjects for clinical studies; unavailability of critical staff because of sick leave or delays in recruitment of PhD students or laboratory personnel)
- evidence that progress is being made to eliminate earlier delays (i.e. the absence of persistent and/or growing underperformance).
Final year Financial Statement
Acquittal refers to the process of assessing and reconciling the final Financial Statement at the conclusion of the funding or after the transfer of a grant to another Administering Institute. This process enables NHMRC to ascertain whether the Administering Institution has satisfied their obligations to manage the funds as required by the Funding Agreement or Deeds of Agreement.The total funding received for the duration of grant must be reported on a year by year basis. RGMS facilitates this reporting by building the financial reporting history of a grant as each year’s financial information is entered into RGMS. Where there are unspent funds at the end of the Funding Period NHMRC will raise an invoice to recover the unspent funds. Administering Institutions are to return unspent funds on receipt of the invoice.
Scholarship final year financial reporting
The process for acquitting a Scholarship (PhD or Masters) at the end of the approved funding period is identical to other grants. However, the $500 thesis allowance should be shown as spent in the acquittal. No financial report is required from an Administering Institution when the thesis is subsequently paid to the scholar as the funds have already been acquitted. Where there are unspent funds, other than the thesis allowance, at the time of the acquittal, these must be disclosed in the final year Financial Statement and will be recovered by NHMRC.