Financial Management MW-Sonet 16 th – 19 th of March 2011, Turkey.

Financial Management

MW-Sonet16th – 19th of March 2011, Turkey

MW-Sonet 16th – 19th of March 2011, Turkey

Partner Number

P0 P1 P2 P3 P4 P5 P6 P7 P8

LDV GRANT (EUR)

214.518

30.39160.262

19.065

27.090 15.09721.249

25.003 3.316 13.045

Amount Paid (EUR)

85.807,20 12.157,20 24.104 7.626 10.836 6.038 8.500 10.002 1.326 5.218

Remaining payment (EUR)

128.710,80

18.233,80 36.158 11.439 16.254 9.059 12.749 15.001 1.990 7.827


2nd payment (20 % of LDV) will be send within 45 calendar days after receiving second payment from NA after Interim report acceptance.


Partner Number

P0 P1 P2 P3 P4 P5 P6 P7 P8

Amount Paid (EUR) 85.807 12.157 24.104 7.626 10.836 6.038 8.500 10.002 1.326 5.218

Expenditure (EUR)

99.509 14.897 18.779 10.274 23.786 8.300 6.278 7.597 2.013 7.586

Expenditure (%)

116% 123% 78% 135% 220% 138% 74% 76% 152% 145%


3rd payment (20 % of LDV) will be send within 45 calendar days after Contractors approval of the 3rd phase monitoring report received from Partner, when all Partner’s tasks and obligations are performed due to that date.

Final payment (the balance of LDV contribution according to the results of the evaluation of the final products and eligible costs) will be send within 45 calendar days after receiving the last payment from NA.

MW-Sonet 16th – 19th of March 2011

Partner NumberTOTA

L%

breakdownP0 P1 P2 P3 P4 P5 P6 P7 P8

I. Staff Costs75.037

75,41%

12.296

14.314 6.165 20.520 6.737 4.260 4.939 805 5.001

II. Operating Costs19.269

19,36%

2.601 1.990 4.109 2.135 1.062 2.019 2.092 1.208 2.053

- Travel & Subsistence12.892

12,96%

643 2.575 2.135 1.062 1.170 2.044 1.208 2.053

- Subcontracting costs (up to 30%) 4.183

4,20%602 1.346 1.534 700

- Other 2.194 2,21% 1.998 148 47

III. Direct costs94.305

94,77%

14.897

16.303 10.274 22.655 7.800 6.278 7.031 2.013 7.054

IV. Indirect costs (up to 7%) 5.204

5,23%2.476 1.131 500 566 532

TOTAL (I + II + III)99.509

100%

14.897

18.779 10.274 23.786 8.300 6.278 7.597 2.013 7.586


34,79 % of total budget is spent for interim report period;

Every single document presented in other language than the working language of project should provide a short description of the content (the reference sum should be highlighted);

Expenses for private car travel (personal or company cars), must be justified with supporting documentation (fuel receipt, explanation why it was chosen this way of travel);

Keep It Short & Simple - round figures up/down, submit travel/subsistence costs per person/per trip;


In the financial report form fill in 1 line for the same person with the same role in the project;

It is always better to have documents sent in earlier and to be able to update the information and expenses declarations to have most of eligible expenses after Interim and Final reporting;

Before sending document by post ALWAYS first send scanned copies by e-mail;

Check, Check & Check Again - when submitting financial reports, check the relation between ALL tables - inconsistencies here are common (use the selfcalculating EXCEL Tables where possible).


3rd phase monitoring report – each partner shall provide all information and documents for the period from 01.10.2010 to 31.03.2011 (original documents (where appropriate), especially accounting and tax records or certified copies of original documents). All the necessary supporting documents completed and signed by the legal representative shall be send by 15th of April 2011.

Final report – all documentation for the whole project implementation period from 01.10.2009 to 30.09.2011 shall be provided by 15th of October 2011.


All amounts given in the project reports must be expressed in Euro.

Where Euro account is held, the Contractor and Partners must report expenditure at the amount(s) debited in Euro from their account.


Where accounts are held in national currency, then the Contractor and Partners should normally use the following model:

For all costs incurred, whatever the source of the funds used (i.e. Community funding, own funds, local/regional/national funds), the Contractor must use the exchange rate applied by the bank to convert the pre-financing payment into national currency.


VAT declaration – P2, P4, P6, P7, P8 Bulgarian partners – original

document of request for 1st payment


The following specific Community rules with regard to procurement apply:

Contracts with a value below EUR 12.500 can be paid simply on presentation of an invoice.

Contracts with a value between EUR 12.500 and EUR 25.000 are subject to a procedure involving at least three tenderers.


Other costs can be paid simply on presentation of an invoice.

Indirect costs need not be justified by accounting documents.

Indirect costs shall not be eligible under a project grant awarded to a beneficiary who already receives an operating grant from the Commission during the period in question.


Budget changes between all Direct costs are allowed (respecting the maximum ceilings of 10% for ICT and 30% for sub-contracting)

Proposed changes to budget must be fully justified and follow the project Work Programme and project aims

All requests for budget changes have to be signed by legal representative of Partner’s institutions


Budget in Agreement

(euro)%

Proposed budget (euro)

%

Change

Euro %

A. Direct costs 267.905,00 100% 267.905,00 100% 0,00 0,00%

1. Staff 167.365,00 62,47% 167.456,20 62,51% 91,20 0,05%

2. Travel & subsistence 32.117,00 11,99% 33.081,80 12,35% 964,80 3,00%

3. Equipment (up to 10%) 0,00 0,00 0,00 4. Subcontracting (up to 30%)

44.223,00 16,51% 42.482,00 15,86% -1.741,00 -3,94%

5. Other 24.200,00 9,03% 24.885,00 9,29% 685,00 2,83% B. Indirect costs (up to 7%of A) 18.120,00 6,34%

18.120,006,34%

0,00 0,00%

TOTAL (A+B) 286.025,00100%

286.025,00100%

0,000,00%


All partners are expected to agree on the ownership of Intellectual Property Rights during project lifetime

This Agreement sets out legal provisions on Intellectual Property, derived from this project, management of these rights, as well as obligations and liabilities for the Project Contractor and the Project Partners.



MW-Sonet16th – 19th of March 2011, Turkey

Financial Management MW-Sonet 16 th – 19 th of March 2011, Turkey.

Documents

personper tripmwsonet

final payment

payment eur128

turkey2nd payment

turkey3rd payment

eligible costs

check check

calendar days