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FLLLEX
FLLLEXFinancial and administrative management
Jan NeyensFinance & Projectadministration
Timing:10.00h presentation11.00h coffee break11.15h presentation continuation + questions12.00h lunch
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FLLLEX
Financial and administrative management
Welcome to you, “key-players”, in this project:
Partners:• 18 partners (of which HEI’s, experts and national organisations)
Associated Partners:• 3 associated partners• 1 external evaluator(members of the Advisory Board)
Contractor:• KHLeuven
Agency:• Education, Audiovisual and Culture Executive Agency (EACEA)
from more then 10 countries (be, ie, lt, uk, at, fi, nl, fr, lv, tr, …) !
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FLLLEX
Financial and administrative management
Agenda:1. Contract with Agency2. 75/253. Eligible costs4. Staff5. Travel/subsistence6. General meeting7. Contract with Partners8. 75/25 to Partner9. Flllex budget10. Payments to Contractor11. Expenditures12. Payments to Partners13. Payments schedule14. Time sheet15. Time sheet example16. Calculation of “daily rate”17. www.flllex.eu18. Contact details
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FLLLEX
Financial and administrative management
1. Contract with Agency
Contract betweenAgency (=EACEA)&Contractor (=KHLeuven)
The contract(52pages + annexes):
Will be placed on website.
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FLLLEX
Financial and administrative management
2. 75/25
Co-financing - “Grant principle” - 75%/25%
On expenditures (*) there’s a grant of 75%:
Example:staff cost = 100 euro
Your organisation makes expenditure of 100 euro Flllex project pays you 75% = 75 euro (*)
(*) if expenditure is;- eligible- approved in the budget, with correct invoice, proof of payment, documents, signatures, approved by the Agency
(as stated in budget), …
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FLLLEX
Financial and administrative management
3. Eligible costs
Eligible costs for FLLLEX fall in the categories:
• Staff• Travel/subsistence• Subcontracting• Other
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FLLLEX
Financial and administrative management
4. Staff
In Project Handbook(Guidelines for adm. & fin. Management and Reporting);
Staff =
“Costs relating to the following categories of staff are considered:
•Statutory staff, having either a permanent or a temporary employment contract with the partner
•Temporary staff, recruited through a specialised external Agency”
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FLLLEX
Financial and administrative management
5. Travel/subsistence:
Travel:
- use cheapest means of travel- if your travel costs exceed 350 euro you can not claim surplus on top of 350 euro- car travel, in accordance with the internal rules of the organisation concerned, up to a maximum of 0,22 euro per km, with an overall maximum of 350 euro.
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FLLLEX
Financial and administrative management
3. Eligible costs
• Staff• Travel/subsistence• Subcontracting• Other
=> Mainly “Staff” & “Travel/subsistence”.
Please note that Partners are not allowed to move costs from one budget heading to another.
If you doubt, please contact us.
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FLLLEX
Financial and administrative management
6. General meeting
Expenditures:Lunches, hotel, meetings, … paid by KHLeuven (75/25)
Travel paid by partners (75/25)
Guideline:Budget built to cover expenses for 1 person per organisation to attend meetings=> 1st person “in budget”: 75/25=> 2nd person: on behalf of partner
Your organisation will receive a detailed list of all costs concerning the General meeting.
Please note we will avoid payments from Partner to Contractor.
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FLLLEX
Financial and administrative management
7. Contract with Partners
Please add:
- Bank details; bank account, bank name, iban nr, bic, …- Organisation data; address, name + function of legal representative of organisation who signs, …- signature, name, …
Please return to us (Contractor) 2 signed copies before end of February 2010.
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FLLLEX
Financial and administrative management
8. 75/25 to partner
- invoices, proof of payment, original/signed documents + evt. “translation note”- signed- in euro- eligible(comply with all financial and administrative rules laid out in the Administrative and Financial Handbook, as published on the EACEA website)
- three-monthly reports & payments according to “document deadline” dates- indirect cost: at the end of the project- documents to be kept until 10 years after the end of the eligible period
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FLLLEX
Financial and administrative management
9. FLLLEX Budget
Staff costs: 397.150 euroTravel/subsistence: 82.967 euroSubcontracting: 40.400 euroOther: 27.565 euroIndirect costs: 38.365 euroTotal project expenditures: 586.447 euro
Co-financing: 75% (*)
FinancingGrant: 439.834 euroPartners’ own funding: 146.613 euroTotal project revenues: 586.447 euro
(*) according to the result of the “overall rating”
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FLLLEX
Financial and administrative management
10. Payments to Contractor(expected schedule):
01/2010: 40% of grant: +175.934 euro
07/2011: 40% (after validation of the interim report): +175.934 euro
09/2012:20% (after validation of final report): + 87.966 euro
Total grant = + 439.834 euro (*)
(*) according to the result of the “overall rating”
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FLLLEX
Financial and administrative management
11. Expenditures according to the budget:
expenditure01/2010 -> 07/201162,5% of total budget: -366.590 euro
07/2011-> 08/201237,5% of total budget: -219.857 euro
9/2012
Total: -586.447 euro
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FLLLEX
Financial and administrative management
11’ Expenditures according to the budget:
expenditure 75% of exp01/2010 -> 07/201162,5% of total budget: -366.590 euro 274.942 euro
07/2011-> 08/201237,5% of total budget: -219.857 euro 164.892 euro
9/2012
Total: -586.447 euro 439.834 euro
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FLLLEX
Financial and administrative management
11’’ Expenditures according to the budget:
expenditure 75% of exp grant
01/2010 -> 07/201162,5% of total budget: -366.590 euro 274.942 euro +175.934 euro
07/2011-> 08/201237,5% of total budget: -219.857 euro 164.892 euro +175.934 euro
9/2012 + 87.966 euro
Total: -586.447 euro 439.834 euro +439.834 euro
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FLLLEX
Financial and administrative management
12. Payments to Partner:
Three monthly payments:
Example:Expenditure: -100 euroThree-monthly payment (66,66% of grant): + 50 euroPayment at end of project (33,33% of grant): + 25 euro
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FLLLEX
Financial and administrative management
13. Payments schedule
On last Thursday of March, June, September & December we ask you to send us declarations.
Two weeks later we pay you 66,66% of the grant.
“deadline agenda” with exact data: on website.
Rest of grant (33,33%) will be paid when receiving the final report & the final payment from EACEA.
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FLLLEX
Financial and administrative management
14. Time Sheet
- Invoices or salary slip, proof of payment, original/signed documents, (employment) contract (+ “translation note”)- in euro- eligible !- documents to be kept until 10 years after the end of the eligible period
Please note:- sending three-monthly, see “deadline agenda” for three-monthly payments- you should use 1 time sheet per staff member involved in the project- “Daily rate” to be calculated per staff member
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FLLLEX
Financial and administrative management
15. Time Sheet – example:
Fill in:•Name organisation + partner nr•Name of staff member•Daily Rate•Month(s) and year•Annexes•Worked days (in whole days)•Description of activity
Will be placed on website.
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FLLLEX
Financial and administrative management
16. Calculation of “Daily Rate”
Step 1 - Gross annual salary in euroEmployee’s basic salary plus any contributions made by the employer, pension costs and so on. Bonuses not included.Example:10.000 + 3.000 + 1.000 = 14.000(Salary + taxes + pension)
Step 2 - Number of working daysExample:52 x 5 days – 25 days – 6 days = 229 days(weeks – annual leave – national holidays)
Step 3 - Daily rateExample:14.000 / 229 = 61
Please note there are maximum daily rates by the EC.
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FLLLEX
Financial and administrative management
17. www.flllex.eu
• Contract with EACEA • Calculation of “Daily Rate”- Time sheet- “Deadline agenda” for three-monthly payments- FAQ- link to the exchange rate- …
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FLLLEX
Financial and administrative management
18. Contact Financial & administrative:
Jan NeyensFinance & ProjectadministrationPhone: +32 -16-375 723Mail: [email protected]
Nadia FaliseHead of financial & administrative servicesPhone: +32 -16-375 720Mail: [email protected]
Klaas VansteenhuyseHead International OfficePhone: +32 -16-375 735Mail: [email protected]
KHLeuvenAbdij van Park 9B-3001 Leuven