Fund Utilization Certificate Format
[Fund Utilization Certificate]
Project: [Project Name]
Funding Source: [Funding Source Name]
Utilization Period: [Start Date] – [End Date]
I, [Your Name], as the authorized representative of [Organization Name], hereby certify the utilization of funds received from [Funding Source Name] for the aforementioned project during the specified utilization period. The details of the fund utilization are as follows:
Fund Allocation:
Total Funds Received: [Amount]
Funding Period: [Start Date] – [End Date]
Conditions/Restrictions: [If applicable]
Utilization Summary:
Purpose of Utilization: [Provide a brief description of the project or activity]
Expenditure Breakdown:
Category | Amount Utilized
Personnel Costs | [Amount]
Equipment | [Amount]
Supplies and Materials | [Amount]
Services | [Amount]
Other Expenses | [Amount]
Total Utilized: | [Total Amount]
Supporting Documents:
The utilization of funds is supported by the following documents, which are available for verification upon request:
Invoices and receipts for expenses incurred
Contracts or agreements related to the project
Financial statements or reports indicating the fund utilization
Compliance and Audit:
The fund utilization has been carry out in compliance with all applicable regulations, guidelines, and terms of the funding agreement. No significant compliance issues or audit findings have been identified.
Conclusion:
We hereby certify that the funds received from [Funding Source Name] have been utilized as per the approve budget and in accordance with the terms and conditions of the funding agreement. We express our gratitude for the support provided by [Funding Source Name].
Authorized Signature: ___________________
Date: ___________________
Please note that this is a general Fund Utilization Certificate Format. The specific requirements and format may vary depending on the funding source, project, and organization’s guidelines. It is advisable to customize the certificate to align with the specific requirements and expectations of the funding source or organization providing the funds.
To visit: https://www.mca.gov.in
FAQs
1.What is a Fund Utilization Certificate?
- A Fund Utilization Certificate is a document certifying how funds provide by a government agency, donor, or institution have been utilized for a specific purpose.
2. Who Issues a Fund Utilization Certificate?
- It is usually issue by a Chartered Accountant or an authorized official of the organization receiving the funds.
3. When is a Fund Utilization Certificate Require?
- It is required when funds have been granted for a project or purpose, and the provider needs proof that the funds have been used appropriately.
4. What Information Does a Fund Utilization Certificate Include?
- It typically includes the amount received, the amount spent, the purpose of the expenditure, and any unspent balance.
5. Why is a Fund Utilization Certificate Important?
- It ensures transparency and accountability in the use of funds and satisfies the grantor that the funds have been used for the intended purpose.
6. What is the Standard Format for a Fund Utilization Certificate?
- The format usually includes:
- Name of the organization
- Project name or purpose
- Details of the fund received and utilized
- Certification by an authorized signatory or auditor
7. Is a Chartered Accountant’s Certification Necessary?
- In many cases, especially for government or institutional grants, a Chartered Accountant’s certification is mandatory to validate the correct use of funds.
8. Can Fund Utilization Certificates Vary in Format?
- Yes, different organizations or grantors may have specific formats or requirements for the utilization certificate.
9. What Happens if the Funds Are Not Fully Utilize?
- The certificate will show the unspent amount, and the grantor may provide instructions on whether to return the balance or use it for another purpose.
10. How Often is a Fund Utilization Certificate Submit?
- It depends on the terms of the grant. It can be required quarterly, annually, or at the completion of the project.
