ECIL Project & Financial Management Saturday 27 th October 2012

1. ECIL Project & Financial Management Saturday 27th October 2012

2. 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

3. 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

5. 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

6. 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

7. Agreement Amendments • Notify National Agency before making any amendments • Latest amendment notification two months before project end date.

8. Partner Agreements • Standard model provided by National Agency • Partner’s budgets • Reporting requirements • Reporting deadlines

9. 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

10. Budget

11. Partner Budgets

12. Budget Headings

13. 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

14. 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

15. 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)

16. Timesheets • Staff members name • Partner name • Staff category • Daily rate • Time worked • Work package number • Description of work • Signed by individual and Legal Representative

17. 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

18. 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)

19. 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

20. Indirect Costs • 7% of budget maximum • Do not need to evidence • Must have incurred a cost (rent, heat and light, telephone, photocopying, printing etc)

21. 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

22. 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

23. 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

24. 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

25. Contact Details Project Manager Louise Middleton: louise@bjf.org.uk Finance Officer Lisa Healings: lisa@bjf.org.uk Telephone: +441782 844036 www.leonardo.org.uk