SEE AWARDED GRANTS
In the main, a grant can be collected after the project has been executed against an approved final report. The grant is usually paid out within a few weeks of submitting a correctly prepared final report. The Fund may also negotiate about a grant being paid out in advance if this is necessary for the project to succeed. It is advisable to complete the final report immediately after the project has been executed so that it is not left hanging. TTE Fund does not pay out any grants during the holiday period of July.
Final report
A final report must be submitted to the Fund via the online form, consisting of a report and the actualised finances (at most 2 x A4 + images and financial documents). The report is meant to briefly describe the success of the project and especially to explain whether the project went according to the grant application. The report must also disclose how the possible special terms of the grant decision have been met. The project’s actualised finances must be attached to the end of the report and reveal how the project’s income and expenses were realised compared to the budget (actual ≠ budget). In smaller projects, a copy of all receipts/invoices must be attached, while in bigger projects, you only need a copy of a few of the biggest expense items that amount to at least the grant amount. The Fund does not need the original receipts.
If the execution methods, expenses, etc. presented in the grant application have been deviated from, it is necessary to include a brief account of this in the report along with the reasonings. It is recommendable to attach photos, videos, etc. to the report. For the sake of additional reporting (or the tax authorities), it is advisable to hold on to all receipts and documents related to the project as well as the financial statement even after the grant has been paid out.
In the future, TTE Fund aims to inspire students by publishing images and report sections from the final reports on the TTE Fund website. So, keep in mind that the text and photos in your report must be fit for printing.
The final reports must be submitted via the form system of TTE Fund which is available here.
Advance payment
The Fund may negotiate about a grant being paid out in advance if this is necessary for the project to succeed. For an advance payment, the applicant signs a financial obligation binding them or their association to pay back the grant if the project is not actualised. The financial obligation is considered expired once the final report for the project along with its attachments have been submitted to the Fund for the Promotion of Teekkari Operations and the Fund has approved them. The Fund reclaims a grant paid out in advance if the final report, or an account of the project’s progress, has not been submitted to the Fund within 12 months of signing the financial obligation. Collecting a grant in advance is arranged with the Fund’s secretary.