23.6.2006 Official Journal of the European Union L1711 (Acts whose publication is obligatory) COMMISSION REGULATION (EC) No 883/2006 of 21 June 2006 laying down detailed rules for the application of Council Regulation (EC) No 1290/2005 as regards the keeping of accounts by the paying agencies, declarations of expenditure and revenue and the conditions for reimbursing expenditure under the EAGF and the EAFRD THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EC) No 1290/2005 of 21 June 2005 on the financing of the common agricultural policy (1), and in particular Article 42 thereof, Whereas: 1 Regulation (EC) No 1290/2005 created a European Agri- cultural Guarantee Fund (EAGF) and a European Agricul- tural Fund for Rural Development (EAFRD) operating in the context of the shared management of expenditure and assigned revenue under the Community budget. It lays down general requirements and rules on the keeping of accounts and declarations of expenditure and revenue by the paying agencies, and the reimbursement of expenditure by the Commission. These rules and requirements should be clarified, distinguishing between the detailed rules of application common to the two Funds and those specific to each of them. With a view to ensuring the proper management of the appropriations entered in the budget of the European Communities for the two Funds, it is essential that each paying agency should keep separate accounts relating exclusively to expenditure to be financed by the EAGF and by the EAFRD respectively. To this end, the accounts kept by the paying agencies should clearly show, for each of the two Funds, the expenditure effected and revenue assigned under Article 3(1), Article 4 and Article 34 respectively of Regulation (EC) No 1290/2005, and allow this expenditure and revenue to be linked to the funds made available to them under the Community budget. The common agricultural policy is financed in euro, while allowing Member States which do not form part of the euro zone to make payments to beneficiaries in their national currency. To enable all the expenditure and rev- enue to be consolidated, it is therefore necessary to lay () OJL209,11.8.2005, p. 1. Regulation as amended by Regulation (EC) No 320/2006 (O] L 58, 28.2.2006, p. 42). down that the paying agencies concerned must be able to provide data relating to the expenditure and revenue in both euro and the currency in which the expenditure was incurred and the revenue received. To ensure sound management of financial flows, in par- ticular because the Member States themselves mobilise the funds to cover the expenditure referred to in Article 3(1) of Regulation (EC) No 1290/2005 or receive an advance for that referred to in Article 4 of that Regulation before the Commission finances this expenditure in the form of monthly reimbursements of the expenditure effected, the Member States should collect the information necessary for these reimbursements and keep it at the disposal of the Commission as and when expenditure and revenue are effected or transmit it to the Commission at regular inter- vals. Management methods specific to the EAGF and to the EAFRD must be taken into account in this respect and the provision and transmission of information to the Commis- sion by the Member States should be organised at intervals adapted to the management method of each Fund, with- out prejudice to the obligation of the Member States to keep the information drawn up for the purposes of proper monitoring of expenditure at the disposal of the Commission. The general obligations as regards the keeping of accounts by the paying agencies cover detailed data required for the management and control of Community funds, the details of which are not required for the reimbursement of expen- diture. The information and details relating to expenditure to be financed by the EAGF or the EAFRD which must be sent to the Commission at regular intervals should there- fore be specified. Notifications of information by the Member States to the Commission must enable it to use the information sent directly and as effectively as possible for the management of EAGF and EAFRD accounts and the relevant payments. To achieve this objective, all information to be made avail- able or to be communicated between the Member States and the Commission should be sent electronically or in digital form. However, as transmission by other means may be considered necessary, the cases in which this obli- gation is justified should be laid down.