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Home Page / Functions / Directorate of Financial Control of European Funds / Roles and responsibilities / Simplified Cost Options

Simplified Cost Options

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The Directorate of Financial Control of European Funds provides support to the bodies managing co-financed programs to help them design new projects and sponsorship plans. These plans incorporate simplified methodologies and procedures in line with Regulation (EU) no. 2021/1060 of the European Parliament and of the Council of 24 June 2021. The simplified methodologies are applied at two levels: in the way of paying the funding to the beneficiaries by the state (Article 53 of the Regulation) and in the way of recovering the co-financing from the European Union (Articles 94 and 95 of the Regulation) with the following forms of grants: 
  • Unit costs 
  • Lump sum 
  • Flat rate financing 
  • Financing Not Linked to Costs  
       
Based on milestones and goals for the 2021-2027 Programming Period, the following simplified options have been developed for recovering co-financing from the European Union for projects and sponsorship plans included in the "THALEIA 2021-2027" Program: 
 

 
 
By using the above methods, we achieved a simplification of 22% in ERDF financing and 16% in EKT+. In the entire "THALEIA 2021-2027" Program, the simplification percentage amounts to 15%. The Directorate's objective is to achieve a simplification of at least 40% in EKT+ and at least 20% in the whole Program by the end of the Program period.  
 

At the beneficiary financing level, the main methods are used to cover the salary costs of the Public Sector and Local Government employees, the operating costs of the projects, and the costs implemented in the context of sponsorship plans.  

The Directorate represents the Treasury of the Republic of Cyprus in transnational meetings organized by the European Commission for both the European Social Fund and the European Regional Development Fund, in which experts in the field of simplified cost options from all Member States participate. 


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