ecil project & financial management saturday 27 th october 2012
TRANSCRIPT
ECILProject & Financial
ManagementSaturday 27th October 2012
Project Reporting Requirements• Monthly updates• Progress Report – first six months• Interim Report – year one• Third six month Report – 18 months• Final Report – end of year two• Audit up to five years after the end of project
Monitoring Requirements• Monthly update top three highlights for each
WP, and whether WP on schedule• Activities – past and future• Progress towards final results• Minutes of meeting• Lists of participants and statistics• Database information• Number of products
Partner Reporting Requirements
• Monthly and six monthly updates• Financial reports• Copies of referenced supporting documents
(with English explanation if not clear)• 70% of pre-financing must be spent to before
next payment is made• Exchange rate fixed at date of each pre-
financing payment
Funding Agreement
• Annex 1 - Description of project, application & contracting form
• Annex 1.2 - Actions to be carried out year one• Annex 2 - Overall project budget• Annex 3 - Administrative & Financial Guide• Annex 4 – list of Partners & budgets
Agreement Amendments
• Notify National Agency before making any amendments
• Latest amendment notification two months before project end date.
Partner Agreements
• Standard model provided by National Agency• Partner’s budgets• Reporting requirements• Reporting deadlines
Monitoring Requirements - Finance
• Identify and record sources of match funding• Travel and subsistence policies• Vat status• Details of any National Supports for project• No funding from any other European Fund
can be used• Retain original documents for five years after
end of project
Budget
PROJECT NUMBER: UK/12/LLP-LdV/TOI-508
Costs Eligible Budget Staff Costs: 195,161.00 € Travel and subsistence: 63,684.00 € Equipment (up to 10% of [A+B]): 00.00 € Subcontracting (up to 30% of [A+B]): 58,374.00 € Other: 41,725.00 € Total Heading B: 163,783.00 € Total Direct costs [A+B]: 358,944.00 €
Indirect costs (up to 7% of [A+B]): 25,126.08 €
Total project expenditures: 384,070.08 €
Percentage of EU funding: 75.00%
Receipts
Eligible Budget EU Grant Requested from LLP: 288,052.56 € Partner's own funding: 96,017.52 € Other sources of financing: 0.00 €
Total sources of financing: 384,070.08 €
Partner BudgetsPartner Staff Costs Travel &
Subsistence
Sub-contracting
Other Costs Indirect Costs
Beth Johnson Foundation
58,863.00 10,732.00 15,775.00 5,625.00 6,369.44
Associations Generations
6,687.00 10,682.00 12,199.00 25,375.00 3,846.00
Hogskolan for Larande och Kommunication I Jkpg AB
51,484.00 20,470.00 6,000.00 525.00 5,493.00
Universidad de Granada
51,877.00 10,578.00 14,875.00 5,045.00 5,766.00
Drustova za tretje zivljenjsko obdobje
26,250.00 11,222.00 9,525.00 5,155.00 3,651.64
Budget Headings
Heading A : Staff
Travel & Subsistence
Equipment Heading B: Operating Costs Total (A+B)= Direct Costs
Subcontracting
Other
Indirect Costs Indirect Costs
Budget Changes
• Can change budgets between partners and cost headings
• Virements into staff costs and into operational costs above 10% require Agreement Amendment
• All virements to be notified to National Agency
• Indirect cost can not be changed
Staff Costs
• Actual cost– Include statutory costs– Exclude bonuses, incentives and profit sharing– Not sub-contract staff– Maximum rate for each country
• Actual daily salary multiplied by days on project• Timesheets• Copies of payslips, contracts and CV’s
Daily Rate• Annual Salary +social security costs+ other
statutory costs (including pensions)
Divided by:
Working days in the year (after deducting weekends, holidays and statutory days)
Timesheets
• Staff members name• Partner name• Staff category• Daily rate• Time worked• Work package number• Description of work• Signed by individual and Legal Representative
Sub-contracting
• Not Employees of any Partner• Below €12,500 invoice only• €12,500 - €25,000 three tenderers• €25,000 - €60,000 five tenderers• Above €60,000 national rules on procurement
Travel & Subsistence
• Based on Organisation’s policy• Maximum rates in country visited• Hotel invoices necessary to verify overnight
stay• Travel tickets and boarding passes to be
retained as evidence of travel• Subsistence relates to number of overnight
stays (not number of days)
Other Costs
• Not costs relating to administration of the project (these are indirect costs)
• Only costs incurred by Partners (not sub-contractors)
• Third party travel
Indirect Costs
• 7% of budget maximum• Do not need to evidence• Must have incurred a cost (rent, heat and
light, telephone, photocopying, printing etc)
Eligibility• Costs must
– Occur within partner/ participating countries– Be directly connected to activities– Be incurred by funded partners– Be actual costs (unless policy to claim subsistence
rates)– Be substantiated– Be incurred during contract period– Represent value for money– VAT is only recoverable if the organisation can
demonstrate that it can not recover
Common Issues
• Costs under incorrect headings• Interdepartmental costs (if services of other
departments are used)– Must be Actual costs (must have had to pay for
the service)– Must be invoiced– Not commercial– Entered under other costs
Immediate Requirements
• Copy of Travel and Subsistence Policy of the Organisation (with key sections translated into English)– Expense rates for private car travel– Round sum subsistence rates
• Confirmation of VAT status• Details of any Match Funding providers
ADAM – Portal for LdV• Advanced Data Archive & Management
System (Database)• Marketing and dissemination tool for
Leonardo projects• Complete ECIL profile within the first two
months of project • View and upload news & upcoming events
www.adam-europe.eu
Contact Details
Project ManagerLouise Middleton: [email protected]
Finance OfficerLisa Healings: [email protected]
Telephone: +441782 844036
www.leonardo.org.uk