Final report

Definition

The final report is the account you submit to the funding body after a subsidised project ends, describing the results achieved and the costs actually incurred relative to what was stated in the original application. Based on this report, the funding body assesses whether the project was carried out as described and makes the final determination of the subsidy — possibly with a correction relative to an advance paid earlier. What exactly a final report must contain varies by scheme: it typically includes a substantive review of the project results, a financial account of the costs incurred, and sometimes supporting documents such as invoices or test results. The WBSO has no separate 'final report' in this form; instead, after the calendar year ends you submit a realisation report with the R&D hours actually spent and any costs and expenditure, which functions similarly as the basis for the final determination of your benefit. For project subsidies such as a MIT feasibility project, a careful final report is essential: if the report does not match the previously approved application, you risk the funding body setting the subsidy lower than the granted amount. Make sure you gather evidence throughout the project — progress reports, results and cost overviews — so the final report can be prepared smoothly.

Frequently asked questions

What should a final report include?

A final report typically includes the results achieved from the subsidised project and a financial account of the costs actually incurred, compared with what was stated in the original application.

What happens to the subsidy after the final report?

Based on the final report, the funding body makes the final determination of the subsidy, which can mean an advance paid earlier is adjusted upward or downward.

Does the WBSO also have a final report?

Not in that form; for the WBSO you instead submit a realisation report with the R&D hours actually spent, which serves as the basis for the final determination of your benefit.