Revolving Fund for Community Policies

The Revolving Fund for Community Policies, established by Italian Law No. 183 of 1987, provides partial coverage of the national costs envisaged in the Programs and Actions of Community policy.

Through this Fund, the centralization of financial flows of structural funds from the European Union is ensured at the State Treasury and the unified management of related transfers in favor of national Administrations and Entities. The Revolving Fund disburses resources based on payment requests submitted by the Administrations in charge of the Programs.

For the management of the Revolving Fund, Presidential Decree No. 396 of 1988 established, within the General State Accounting Office, the General Inspectorate for the administration of the Revolving Fund for the implementation of Community policies (IGFOR), which in 1997 changed its name to the General Inspectorate for Financial Relations with the European Union (IGRUE). In the current organization of IGRUE, Office XII is responsible for the operational management of the Revolving Fund.

The CNR submits a specific request to the MUR, as the supervising ministry, to access the Revolving Fund for its eligible selected projects. These requests list the project identification data, as well as the financial data relating to the recognized budgets and the actual receipts received from the European Union for the said projects, accompanied by the related supporting documents.

The MUR, after its own documentary checks, requests IGRUE to disburse the co-financing shares charged to the Revolving Fund for the identified projects, transmitting what was received from the CNR to it.

IGRUE, once the necessary verifications are carried out, establishes the exact amount of the Fund's share, and convenes a specific Working Group – also with MUR/CNR participation – to approve the final version of the decree that will finance the eligible projects, or a subset of these, using the Revolving Fund.

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