Published: 20 June 2021 Updated: 26 July 2021


At the completion of the project, the FRDC requires a financial acquittal. A separate financial statement is required for any Third Party Agreements.

Along with your financial acquittal, you will also need to submit a full list of transactions to verify expenditure. A report direct from your accounting system is preferred. While there is no set template for this transaction list, expenditure should be grouped by financial year and itemised for:

  • Salaries
  • Travel
  • Operating
  • Capital

The financial acquittal and transaction list must be sent to the FRDC ( as a part of the final report requirements at the completion of a project. The final project invoice (if applicable) will not be paid until a satisfactory financial statement and transaction list is submitted and approved.

Capital items

We may request more information on capital items specified in the initial budget or those that have been purchased throughout the project.

If we request this information, please answer the following:

  1. Were FRDC funds used to purchase the item(s)?
  2. What is (/are) the item(s)?
  3. What is the current estimated value?
  4. Where does the item(s) currently reside?
  5. Is the item(s) being used?