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Net-TOPIC

Net-TOPIC . FINANCIAL MANAGEMENT. 1 .- PROJECT FINANCIAL MANAGEMENT. The Lead Partner and Project Partners shall jointly decide the type of project financial management Three main types of administrative and financial management: Centralised Decentralised Mixed. Centralised Management.

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Net-TOPIC

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  1. Net-TOPIC FINANCIAL MANAGEMENT

  2. 1.- PROJECT FINANCIAL MANAGEMENT • The Lead Partner and Project Partners shall jointly decide the type of project financial management • Three main types of administrative and financial management: • Centralised • Decentralised • Mixed Net-TOPIC - Financial Management

  3. Centralised Management • The Lead Partner takes up the majority of the responsibilities. • collection of partner’s co-financings • payment or reimbursement of the organisation costs related to the project implementation; • accounting and certifying procedures through PRESAGE-CTE Net-TOPIC - Financial Management

  4. Centralised Management-2 • This kind of management simplifies: • the project management > the Lead Partner is the major responsible body to deal with the accounting, reporting and monitoring procedures through PRESAGE-CTE. • the implementation of the first level control since the Lead Partner certifying body will be responsible to certify the majority of the expenditure. Net-TOPIC - Financial Management

  5. Centralised management-3 • However, this centralised procedure must guarantee: • The respect of the eligibility rules and requirements for the ERDF funded expenditure defined by the EU regulations, • The respect of the national eligibility rules • A detailed description of he chosen system in the Audit Trail and Joint Convention • the valorisation of staff contributions • the creation and funding of the URBACT Local Support Group by all Project Partners Net-TOPIC - Financial Management

  6. Decentralised management • All partners keep, spend and certify their own costs. • It requires an effective follow up by the Lead Partner. Net-TOPIC - Financial Management

  7. Decentralised management-2 • Main tasks of the Project Partners: • spends, accounts and certifies its own contribution • provides the Lead Partner with the certificate and statement of expenditures • Ensures that the expenditures accounted and certified by the partners is entered into the correct budget lines without exceeding the maximum available amount and has been certified by the appointed CB. Net-TOPIC - Financial Management

  8. Mixed system • The majority of the expenditures managed by the Lead Partner • However, the expenditures incurring by the Project Partners in items such as contributions in staff and costs for the ULSG, will be taken up by the Project Partners and shall be accounted in PRESAGE-CTE by them. • the designated certifying bodies at Project Partner’s level shall and certify the expenditures. Net-TOPIC - Financial Management

  9. 8. Receive ERDF funding from LP 1. Send the certificates to LP 8. ProjectPartners 1. Project Partners 7. Makes payment to projects 2.Project LP 2. Draws up project report and claim payment 7. CA 3. Certifying bodies 6. Approves validclaims andtransfers ERDF to CA 3. Certify that expenditure claimed complies with relevant rules and regulations 6.Commission 4. MA/US 5. Certificates programme claim based onMA/US information 5. CA 4. Confirms that certification and reports are satisfactory Payment Circle Net-TOPIC - Financial Management

  10. Progress Report • The Lead Partner shall report to the US about the progress of the whole project. • The documents related to reporting are: • Progress Report (Activity and Financial Sections) • Certificates of Expenditures • Payment Claim Net-TOPIC - Financial Management

  11. Progress Report-2 • Reporting helps: • to avoid decommitment • to monitor the project management cycle • to link activities and spending Net-TOPIC - Financial Management

  12. Progress Report-3 • Twice a year: • January-June. Deadline: 30th September • July-December: Deadline: 31st March Progress Report using PRESAGE-CTE system Net-TOPIC - Financial Management

  13. Progress Report-4PROCESS Net-TOPIC - Financial Management

  14. Progress Report-5 • Financial Section: • Reporting per objectives/actions: • Information on the total budget consumption • Follow up of the consumption on PPs contributions • Information on the distribution of ERDF by LPs to PPs • Particular decisions undertaken by the LPs during the project financial management Net-TOPIC - Financial Management

  15. Accounting of Expenditure • The accounting and certification of the expenditure shall be done through PRESAGE-CTE. • Expenditure can only be accounted in PRESAGE-CTE if the following principles are fulfilled: • The calculation is based in actual costs • The costs are definitely borne by the Lead Partner/Project Partner’s body and would have not been arisen without the project • The expenditure has actually been paid out. • The expenditure is directly linked to the project. Costs related to activities that are not described on the Application Form are generally ineligible. • After registering the new expenditure on PRESAGE-CTE, the project partner & lead partner shall validate the operation. The Partner’s certifying body can certify the expenditure in PRESAGE Net-TOPIC - Financial Management

  16. Accounting of expenditure -2 • ACCOUNTING RULES • The accounting of the expenditure must be done in EUR. • The Lead Partner and the Project Partners must ensure that all accounting documentation related to the project is available and filed separately. • The Lead Partner must ensure that all Project Partners store the documents related to the project in a safe an orderly manner at least until the 31st December 2020 Net-TOPIC - Financial Management

  17. Certification of expenditure • Only the expenditure that has been validated by the Lead Partner can be certified by the certifying body of the Project Partner. • The certification of the expenditure shall be done through PRESAGE-CTE. • The expenditure must be certified only by the certifying body officially designated. • The procedures of the certification of the expenditure shall be outlined in the guidelines for the use of the PRESAGE-CTE. • The signed certificates and the statements of expenditure produced by the partners shall be sent to the Lead Partner. • The Lead Partner’s certifying body shall produce the unique project certificate and statement of expenditure. Net-TOPIC - Financial Management

  18. Clear identification of the expenditure • Opening of a specific bank account for the project payment and/or • Introduction of a project specific cost-accounting codes to record project costs by budget line, component and payment date/reporting period in the accounting system and/or • Recording costs in expenditure list by budget line, component and reporting period and/or • Noting the allocation (project title, budget line and additional comments) on the invoices. Net-TOPIC - Financial Management

  19. PRESAGE-CTE • IT monitoring and management system of the URBACT II Operational Programme. • Aimed to ensure a high level of reliability and control of the expenditure declared to the Commission and on the administrative management of the projects • Aimed to record and store in computerised form the accounting records of each project • Aimed to register the accounting, the certification of expenditure and to draw the activity and financial reports. • Each project partner, lead partner and certifying body shall have a personal access to the system. • Some guidelines explaining the PRESAGE-CTE functioning will be published. Net-TOPIC - Financial Management

  20. Thanks very much for your attention Net-TOPIC - Financial Management

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