ECIL Project & Financial Management Saturday 27 th October 2012.

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: louise@bjf.org.uk

Finance OfficerLisa Healings: lisa@bjf.org.uk

Telephone: +441782 844036

www.leonardo.org.uk