English to Italian Bus/Financial Accounting Esecuzione di bilancio

Concerning the execution of the carry-over 2016/2017, the total amount of appropriations carried over from 2016 to 2017 was EUR 20.2 million, compared to the historical level of around EUR 30-40 million. Of this total carry-over, the funds spent by the end of 2017 amounted to EUR 17.0 million, thus the cancellation amounted to EUR 3.2 million, which is significantly lower than the historical average of EUR 5.0 million.

Although this result implies a cancellation rate (amount cancelled versus amount carried over) of 15.9 %, which is slightly above the target of 15 % set by the European Court of Auditors (EUR 181 899.53 above), the ** basis of carried over credits ** and the reduced total amount of cancelled appropriations have been significantly reduced.