Sprotasjóður: The Icelandic innovation fund for schools

Payments, payment arrangements and reports for funded projects.

The grant recipient can see information about payments and reporting in the electronically signed terms and conditions of the grant.

Payments

• Payments are based on the grant amount.

• Grants up to ISK 2,000,000 are paid out in a single payment after the terms and conditions have been signed.

• Grants exceeding ISK 2,000,000 are disbursed in two payments: 70% after the terms and conditions have been signed and 30% after the final report has been approved.

Reports

• See information in the signed grant terms.

• In all cases, a final report must be submitted. It is recommended that this is done as soon as possible after the project ends, but no later than 3 months after the specified end date in the grant terms.

• The user (individual or school/municipality) who submitted the application can access the project's report form on their “My Pages” on the Rannís website.

• If necessary, the report form can be transferred to another user. A request for this should be sent to the fund's email address: sprotasjodur(at)rannis.is.

• If a grantee applies for a new project before the current project is completed, an interim report for the current project must be submitted for the new application to be considered.

• A description of the project's implementation for public dissemination in the final report will be published with the project's entry on the Rannís data portal.

• If the grant from the Seed Fund is ISK 3,000,000 or more, a list of accounting transactions must be submitted.