1 / 8

GENERAL ADMINISTRATION

GENERAL ADMINISTRATION. Financial Management General, Steps, Subvention, Special Cases Service Agreement Terms, Proposal, Budget. A. Financial Management. (1) General No recurrent financial implications No other source of finance Not profit-making

coral
Download Presentation

GENERAL ADMINISTRATION

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. GENERAL ADMINISTRATION Financial Management General, Steps, Subvention, Special Cases Service Agreement Terms, Proposal, Budget

  2. A. Financial Management (1) General • No recurrent financial implications • No other source of finance • Not profit-making • No fees (if not -> offset the expenditure)

  3. Financial Management (2) Steps • Vet the proposal • Approve the proposal and subvention • Acceptance by applicant • Sign a service contract (subject-related organisation & HKSARG) • Complete GF179A by applicant

  4. Financial Management (3) Subvention • $50,000 or below • Reimbursement • Self-certified financial statement & receipts (within 2 mths from completion) • $50,001 to $100,000 • Release half of subvention initially (if acceptance, sign agreement, complete GF179A) • Up to 25% of the subvention (satisfactory completion of the interim report/key milestones) • Balance released with self-certified financial statement & receipts within 2 months from satisfactory completion) • Over $100,000 • Release half as $50,001 to $100,000 • Up to 25% of the subvention (satisfactory completion of the interim report/key milestones) • Balance released with financial statement prepared by CPA

  5. Financial Management (4) Special Cases • Overlapping items in two separate projects • Rising costs during the project period, e.g. staff cost, missing the CPA costs, etc. • Therefore …. Careful budgeting in the proposal (NO guarantee on exceptional approval for proposal variations)

  6. B. Service Agreement • Terms & Conditions • Proposal • Design/details of the project, action plans • Budget • Grant $, items to be financed , payment schedule (depends on the grant $)

  7. Service Agreement - Terms & Conditions • Sole purpose of the grant, i.e. complete the tasks of the proposal • Project commencement & completion dates • Due diligence, conscientious & timely manner • Work in accordance with the budget • Reallocation of funds • Among approved items with variations of 20% or less (OK) • Exceed 20% or to non-approved items (Seek written approval)

  8. Terms & Conditions (Cont’d) • Consent -> no other public funding support • Acknowledge the EDB • Issues on IP rights • Interest earned = income to cover expenditure • Return any unused fund • Shall not represent as employee or agent of HKSAR Govt/ EDB • Terminate the agreement with 14-day notice, e.g. breach the terms, not commence/proceed the project

More Related