A lot of details are required for the budget in the bid form, including the budget for management fees. Will the Fund Operator be asked to report against the use of the management fees?
The detailed management fee budgets are for the purposes of assessing how bidders plan on allocating resources to the tasks listed as their responsibility under article 2.1 of the Programme Implementation Agreement, and having a comparative basis when assessing competing bids. The Fund Operator will not be asked to report against the detailed management fee budget during implementation. Expenditure reported under the management fee will not be audited.