Login for all users Login to site
    Forgot password?  

Financial Reports

Important.pngAll information on this page is part of the GIF Guidelines, which are binding for all applicants and grantees.
For your convenience, you can download a full version of the GIF Guidelines in
                  PDF format here.

1. Final Financial Report

The PI (or his/her institution) is responsible for preparing a final financial report. The final grant payment is subject to the proper preparation and submission of the required financial report.
The final financial report should reach GIF no later than 3 months after the end of the reporting period. For list of payment dates please see Payments.
The annual report contains two parts:
    • ​Part A of the form (p. 1 of the report), which shows the approved budget items for the report year, will be sent to you by GIF offices. If you did not receive it, please contact us at Admin.pngand we will send it to you.
    • Part B (p. 2-3 of the report), which is identical for all Grants, can be downloaded here
      On page 2, grantees are required to fill in details for expenditures incurred under the following budget items: Salaries, Heavy Equipment, Travel, Subcontracting.
      On page 3, grantees are required to provide justification for travels charged to the GIF Grant.
    Please note that financial reports MUST be submitted on the GIF forms. No other forms will be accepted.
    The financial report must bear the PI's signature and stamp and signature of his/her institutional administration. Without the two signatures and stamp, the financial report will not be valid.
    Please also note that the expenditures are to be reported according to the GIF budget codes.
    Please observe the special regulations for Salaries, Heavy Equipment, Foreign Travel, and Symposia stipulated in the list of budget items.
    The GIF Grant budget shall be used solely for the purpose of the research project and in accordance with the provisions of the GIF Grant agreement. Any funds used for tasks not included in the appropriate plan are to be reimbursed to GIF.
    The budget items relevant and chargeable to your GIF Grant are specified in the approved Grant budget. Any change from the approved items needs to be requested in advance by email to: Finance.png. All relevant information should be included in the description of the required budget change. For further information on changes in the approved Grant budget, please see paragraph 2 (below).

    Each PI's budget is for use of the PI and his research team ONLY.

    Please also note that no expenditures for researchers, who are Principle Investigator in another active GIF Grant, may be charged to your Grant budget, even if they participate in the scientific work.​

    Please send the report, signed by the PI and his/her institution, scanned to Finance.png. Please remember to attach receipts for equipment purchases and receipts, itinerary, and scanned boarding pass for travel expenses.
    Don't forget.jpgBefore sending the financial report by email, please contact your IT specialist to check if the size of the file is supported by your mail server. We can receive emails of up to 10MB. Please keep the originals in your file in case the GIF control committee requests it. If the file is too heavy, please split it into separate mails and inform us about the number of emails sent.
    After receipt of the final financial report from the Grantee, GIF will check whether all the obligations were met, including checking the final balance, and will inform the Grantee accordingly.
    Unexpended balances remaining after completion of the research project must be returned to GIF no later than 60 days after the date of the final balance letter by the financial department of the GIF requesting the return of surplus funds.

    2. Budget Changes

    • Within most of the approved budget line items, Grantees have flexibility (please note the important exceptions below).
      This means that it is possible, without prior approval by GIF, to: 
      a)  Exceed the expenditures for a budget line item by a maximum of 50% of the approved budget.
      b)  Make use of the remaining budget in favor of other budget items.
      The overall budget may not be exceeded.
    • Exceptions to the option to shift between budget items by 50%:
      a) Non-Expendable Equipment: The budget is restricted to the purchase of non-expendable equipment as specified in the original proposal and approved by the Foundation and cannot be shifted to other budget items. Unused funds in this budget item will be returned to GIF.
      b) Salaries (effective from 01/01/2017) : A m
      aximum of 20 % of the budget that was allocated by the PI for salaries can be shifted to other budget codes (pending a formal PI request and subject to GIF approval). The rest of the budget, if not used for salaries, will be returned to GIF.​
      It is, however, permitted to shift up to 50% from other budget items TO Salaries from other budget line items.
    • In the following cases, Grantees should request GIF approval in advance by completing and sending the "Form for Budget Transfers"  (available for download here​) to Finance.png:
      - requiring more flexibility in their approved budget items
      - transferring budget to a new budget item which was not included in the originally approved budget
    • Please note: Shifting funds between the sub-categories in Salaries (Junior Academic Staff, Senior Academic Staff etc.) do NOT require a formal request for budget shift, if the overall budget for Salaries is not exceeded.  ​

    3. Delays in Reporting

    The PI should submit his final financial report NO later than 2 months after the end of the reporting period. Delay in reporting will cause delay in the final payment. For list of payment dates please see Payments.
    Login in proccess...