EURIMAGES - European Cinema Support Fund

 

Preparation of Final production costs

 

Final production costs should be established according to international accounting standards. The document certifying the final production costs should:

  • be presented on the professional letterhead of the Auditor;
  • include a signed statement by the Auditor explicitly stating the amount of final production costs by country;
  • confirm that:

(i) the examination was carried out according to the principles of generally accepted international standards;
(ii) the examination was carried out in such a way as to ensure that the financial records did not include factual errors;
(iii) the financial records give an accurate and fair view of the financial status of the project.

The professional letterhead of the Auditor (or, failing this, a separate certificate) should specify:
  • the professional body to which (s)he belongs;
  • that (s)he is authorised to exercise his/her profession;
  • that (s)he is independent of the co-production companies involved in the project.

Final production costs should:

  • show for each budget sub-head and per country the variation between the cost shown in the production budget annexed to the Eurimages support agreement and the audited cost;
  • be prepared in local currency and in euros, using the same exchange rate as that used in the production budget annexed to the Eurimages support agreement;
  • be prepared in English or in French (including the Auditor’s statement) or be accompanied by a professional translation into one of these languages;
  • stipulate that they are exclusive of VAT.

Reminder of some general principles:

  • all items included in the final production cost should be justified by official documents (bills, receipts or contracts) and recorded in the company accounts under the title of the supported project.
  • similarly, expenses relating to “barter” agreements, deferrals, in kind contributions, etc. should be documented, correspond to the actual services rendered, and be recorded in the company accounts at a realistic market value.
  • Eurimages reserves the right to request a more detailed breakdown of production costs and to undertake audits of production accounts (directly or through a third party). where an Auditor certifies expenses for other countries, (s)he thereby guarantees that (s)he has had access to the accounts of the producers concerned and to the invoices and documents relating to these expenses.
  • by definition, the amount shown under the heading ‘Contingency’ in the production budget has either been spent during the production of the film (and thus figures under other budgetary sub-heads) or has not been spent and is thus not a production cost. As a result, no contingencies should appear in the final costs.
  • ovoverheads are accepted in the final costs, including where they are calculated as a percentage of the total cost, in so far as they are in line with industry standards in the country in question. Nonetheless, clarifications should be provided where overheads are particularly high (the number of projects undertaken by the company, the number of permanent employees, expenses covered by such overheads, etc.).
Pdf version available here
   

Info for producers

  • Following the decision of the Eurimages Board of Management meeting in 2009 to carry out in 2014 a study on the functioning and results of the Fund, the Olsberg SPI company established in the United Kingdom has just published its report which you will find here. As an independent study, the contents of this document do not bind or commit in any way the Council of Europe and the Eurimages Fund. The Fund’s Board of Management will now study the recommendations proposed by the Olsberg SPI company.

  • From 1 January 2014, the rules for Eurimages Co-production funding have been modified.

Info for distributors

  • Please note that as from 1 January 2014, Bosnia-Herzegovina is no longer eligible for distribution support.  However, as Switzerland is no longer eligible for support from Creative Europe – MEDIA, they are eligible for distribution support from Eurimages.

  • The Regulations for the New Distribution Support Programme, including the application forms, are now available! NEXT DEADLINE - 25 AUGUST 2014!

Info for exhibitors

  • Please note that as from 1 January 2014, Bosnia-Herzegovina is no longer eligible for support for theatres. However, although Switzerland is no longer eligible for support from the Creative Europe- MEDIA Initiative, they are eligible for support for theatres.

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