Periodic Report - Finance

Periodic Report - Finance

Grazyna Guz & Erik Fuglsang

Finance Officers

How projects are split........

TARGET A UK Erik FuglsangNMC-NSR N Erik FuglsangHiTrans N Erik FuglsangLiveable City UK Erik FuglsangWater4all DK Erik FuglsangESCAPE NL Erik FuglsangSEAPLANE G Erik FuglsangWSF G Erik FuglsangGREEN-NSD G Erik FuglsangFLOWS UK Erik FuglsangNAVE NORTRAIL UK Erik Fuglsang

WCI-II NL Grazyna GuzCOMRISK G Grazyna GuzSave the North Sea S Grazyna GuzThe Partnership UK Grazyna GuzPURE North Sea NL Grazyna GuzGeoShare N Grazyna GuzFRaME NL Grazyna GuzREMARCC II G Grazyna GuzNOLIMP NL Grazyna Guz

Preparation Costs• Come on the top of the project budget with the same

grant rate as the principal project

• Incurred not earlier than 6 months before submission the application

• You can show the direct connection to the project development

• Ceiling for ERDF grant: 20.000 EURO or 2% of budget

Budget lines in general

Real costs principle as a basis - only the actually incurred and paid costs can be included in the claims; related product or service delivered

Relevant project costs - only additional costs and costs for activities described for in the application

Only the costs before VAT can be entered

1. External experts

Balance between the costs of external subcontractors and the added value – profit for the region and not the consultants

Tender rules must be respected

Only the costs before VAT can be entered here

External experts as a project manager – conflict

Formal partners can not be the consultants

2,3. Staff• (50 % rule)

• Time sheets and pay slips is the accounting evidence

• Temporary Staff >< Permanent Staff

• Staff hours spent on general day to day management within an authority are NOT eligible; i.e. only time spent on the specific project (additional activities) is eligible

4. Travel and accomodation

Cost efficiency (No extravagant luxury !!)

Within the eligible area

Own car used in connection with a project activities Official standard rate per kilometre according

to national rules Document (name, purpose of meeting,

distance) Signed by an authorised person Kept on the accounting files

5. Meetings and conferences

Real cost principle must be respected

Only the cost before the VAT can be entered

Justified within the activities described in the application form

Cost efficiency (No champagne !!)

Accounting evidence is the specified invoice

6. General costs

• No fixed percentage – real costs basis

• Supporting evidence of costs (invoice or equivalent)

• Calculation of proportional participation

7. Promotion and publication

Indication of the European Union participation

Downloading the appropriate emblems:http://europa.eu.int/comm/regional_policy/sources/graph/embleme_en.htm

Evidence to be provided: invoices paid for

8. Material investment

• All material investments to be reported here

• Further specification in the section 3.1

9. Audit

Evidence to be provided: as a rule invoices paid for

Distinction between the external and internal

audit costs

10. Other

Expenditure not matching any other budget line

Project generating income – any income must be reported here

Project income can not be omitted and has to be deducted from the project eligible expenditure

11. VAT

VAT is ineligible unless you can prove that it is irrecoverable

National rules apply for the VAT rate calculation

Evidence: VAT invoices actually paid and justification that it can not be reimbursed

13. Ineligible

Ineligible expenditure must be reported

List of ineligible expenditure is never exhaustive

No formal requirements for evidence as no ERDF money claimed here

Budget change Total budget can not be changed

Any changes expected – inform the Secretariat (before the costs incur)

Shift from and to ”material investment” normally not accepted

Shift between the yearly spending targets...