Icelandic Research Fund
Administration and Reporting
Reports and Plans
Financial Report Templates
Annual Reports
The Project Leader is responsible for submitting an annual report (see the Annual Scientific Report template) by 1 February after the grant year ends. The annual report must account for the costs incurred and funding for the relevant grant year, and the estimated costs and funding for the upcoming grant year.
All major changes to the project (including parental leave or sick leave of participants) must be explained and changes to the research plan justified. Prior approval is required for the transfer of more than 10% of the total amount for each grant year (excluding overheads) between different cost items.
The annual report, along with a financial statement (see template: Budget Reports Annual) and a list of transactions, must be submitted no later than 1 February (doctoral students do not need to submit a list of transactions). The final payment for the grant year (20%) is paid after the report has been approved.
Final Reports
The final report (see template: Final Scientific Report) must be submitted by 15 February of the year following the end of the final grant year. The final report must account for the project's progress, final results and conclusions, as well as a press release in English and Icelandic.
All major changes to the project (including parental leave or sick leave of participants) must be explained and changes to the research plan must be justified. The approval of the board is required for the transfer of more than 10% of the total grant amount between different cost items.
The final report, along with a financial statement and a list of transactions, must be submitted no later than 15 February (doctoral students do not need to submit a list of transactions). The final payment for the project (20%) is made after the final report has been approved.
Data Management Plan
The Project Leader (PL) is responsible for submitting a Data Management Plan (see Data Management Plan template) to the fund, i.e. how data will be stored and how access to it will be managed. The plan must account for the storage of and access to tools, software or algorithms that will be collected or created during the project.
The data management plan must comply with international standards, i.e. Icelandic and EU data protection regulations (General Data Protection Regulation), FAIR principles (findable, accessible, interoperable and reusable) and the code of conduct for data management.
Agreements
Agreements are made between the Project Leader (PL) and Rannís, on behalf of the Icelandic Research Fund. Grants are only paid into the bank accounts of Icelandic institutions or legal entities.
The first payment (40%) is due upon signing the contract.
The second payment (40%) is due on 1 September.
The final payment (20%) is made once the annual/final report has been approved.
Once the annual report has been approved, the contract for the following year is sent to the project managers.