The method provides a framework for identifying, using and combining different budgetary sources to capture the funding dimension of the RIS3 action plan and the needs for funding during the implementation period. Users will be able to access information the potential sources of funding and indicate the allocation of funds by policy measure/action line.
The method will provide a framework for preparing and updating RIS3 budgets based on the sources of funding and committed versus actual expenditure. The method will support RIS3 partnerships and managers in handling the funding dimension of the RIS3 action plan and on-going financial planning during the implementation period. The sources of funding and allocation of funds by type of measure, beneficiary and type of financial instruments will be captured. There are a wide range of budgeting methods and procedures which very much depends on national standard and practices (see OECD, 2014). Hence, the method and related tools will provide a harmonised tool that enables comparison of RIS3 budgets and policy mixes at European level.
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