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Project Monitoring Process

The BUD Fund Implementer will review the project progress and evaluate the project results by comparing the project progress/ deliverables reported in the progress/ final reports against its original objectives and targets as set out in the project proposal appended to the project agreement.

On-site Checking

The BUD Fund Implementer will conduct on-site checking to verify the project progress and results for selected projects.

Progress / Final Reports

To facilitate the monitoring and evaluation of approved projects, the applicant will be required to submit reports to the BUD Fund Implementer for review. The Progress and Final Reports will be submitted to Programme Management Committee (PMC) for approval.

Project Duration

Submission of Progress Reports and Annual Audited Accounts

Submission of Final Report and Final Audited Accounts

18 months or below

Not required

Within two months upon project completion

More than 18 months to up to 24 months

One 12th month progress report  and Audited accounts for the first 12 months, to be submitted within one month after the relevant 12-month period

Within two months upon project completion

Disbursement of Funds

All funding disbursement by the BUD Fund Implementer in respect of approved projects is to be made on a matching basis. Depending on the project duration, the arrangement for disbursement of fund is as follows:

Payment Option

Project Duration

Number of Installments

Initial payment (% of total approved Government funding)

Mid-term payment (% of total approved Government funding)

Final payment (% of total approved Government funding)

Initial payment required

18 months or below

2

75%

Not applicable

Balance of approved Government funding %*

More than 18 months and up to 24 months

2

75%

Not applicable

Balance of approved Government funding %*

Initial payment not required

18 months or below

1

Not applicable

Not applicable

Balance of approved Government funding %*

More than 18 months and up to 24 months

2

Not applicable

50% at maximum, subject to project progress and actual total allowable project expenditure

Balance of approved Government funding %*

* Subject to the recognizable total project expenditure on project completion.

Suspension or Termination of Funding Support

The Government reserves the right to suspend or terminate funding support for an approved project. Once a project is suspended or terminated, the applicant will not be entitled to the receipt of Government funding under the BUD Fund. Any cost incurred in the project will be solely borne by the applicant. The applicant should return the Government funding disbursed in respect of these projects (regardless of whether the applicant has already spent the funds or not) together with all administrative, legal and other costs and interest.

Report Templates

Application Type

Annual Progress Report

Final Report

Any projects with duration over 18 months require the submission of progress reports. It should include a summary of the project progress against the project implementation plan set out in the Approved Project Proposal appended to the funding agreement as well as a statement of income and expenditure for the reporting period. It should also include any work and deliverables that have been completed and achieved during the reporting period. Applicants of all approved projects are required to submit final reports (and final audited accounts) covering the period from project commencement date to the project completion date. Each final report should include a summary of the work and deliverables completed and achieved under the project as well as a statement of income and expenditures against the objectives, deliverables and budget of the project as set out in the Approved Project Proposal appended to the project agreement
ASEAN Programme

 

 

FTA Programme

Coming soon

Coming soon

 

References

Documents

Description

Download

Notes for Auditors

A guidance to facilitate the engaged auditor in conducting audits and preparing auditors’ report for approved project.

Anti Bid-rigging Confirmation Template

The template for the applicant enterprise should where appropriate request bidder/tenderer to sign a confirmation on compliance when submitting quotation/tender.