1 / 14

SOTERIA Last periodic FINANCIAL report

SOTERIA Last periodic FINANCIAL report. K.U.Leuven Research & Development Myriam Witvrouw. Financial Report. For period November 1, 2010 – October 31, 2011 Separate for each partner Consists of 2 parts Explanation of use of Resouces To be submitted to Myriam Witvrouw

olathe
Download Presentation

SOTERIA Last periodic FINANCIAL report

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. SOTERIA Last periodic FINANCIAL report K.U.Leuven Research & Development Myriam Witvrouw

  2. Financial Report For period November 1, 2010 – October 31, 2011 Separate for each partner Consists of 2 parts • Explanation of use of Resouces • To be submitted to Myriam Witvrouw • Financial Statement (Form C) • To be submitted online through FORCE Deadline: November 15, 2011

  3. Explanation of the use of the resources • Divided in personnel costs, sub-contracting and any major direct costs • Indicate the relevant Work Package(s) • Total amount of direct costs must be the same as direct costs of Form C • Reported costs must be in accordance with described tasks/scientific work performed and person months in Annex I (work plan)

  4. Financial statement A financial statement (Form C) from each beneficiairy • the form C needs to besubmitted to the coordinator, throughan online system: FORCE • Deadline November 15, 2011 • Afterapproval a signed copy of FORM C needs to be sent to the coördinator (do notsendsigned document before I askforit)

  5. Financial statement Needs to be submitted online – through “Participants portal” - https://ec.europa.eu/research/participants/portal/ Go to My projects By clicking “FR” from Financial Reporting next to ‘SOTERIA’, you will be redirected to FORCE, the Form C editor

  6. Financial statement Choose the appropriate reporting period: No. 3 Click to add form C Partners 11-16 need to go to the next page

  7. Financial statement Calculated automatically if indirect cost model is flat rate To be filled in Automatically calculated

  8. Financial statement Mandatory • After saving the form C, it becomes a draft and can be adjusted by the beneficiary • After submitting the form C to the coordinator, it can’t be adjusted by the beneficiary anymore • The coordinator will submit the form C to the EC. • Afterwards, it can be signed by the person authorised to sign the form C

  9. Eligible – non-eligible Direct costs Eligible costs: • Incurred during duration of project • In accordance with the beneficiary’s usual accounting and management principles • Recorded in the accounts of beneficiary • Used for the sole purpose of achieving the objectives of the project Non-eligible costs: • Identifiable indirect taxes, including VAT

  10. Direct costs Categories of direct costs: • Personnel • Additional staff and permanent staff • Time recording is necessary! (productive hours; and time allocated to activities: RTD and management) • Travel and subsistence (We recommend you to keep minutes that proof link with project, list of participants or invitation, all receipts, flight tickets,…) • Consumables: directly related to the project – otherwise indirect costs

  11. Indirect costs Indirect costs: • All costs that cannot be identified as attributed directly to the project (the ‘running’ costs: electricity, heating, telephone, internet, computers, inkt cartridges, administrative efforts at partners institutions…) • three methods for determing your indirect costs: • Special transition flat rate (60%) • Standard Flat rate (20%) • Real Indirect costs • will be calculated automatically in the form C when the method for determinating your indirect costs is a flat rate

  12. Certificateon Financial statement (CFS) • Mandatory when requested funding ofbeneficiary is above375.000 Euro (only for KULeuven) • CFS needed at the moment of reporting • CFS provided by: • Independent qualified auditor • Public bodies, secondary and higher education establishments and research organisations may opt for a competent Public Officer • Costs claimed under Subcontracting under Management Activities Please note: The Commission may, at any time during the implementation of the project, and up to five years after the end of the project, arrange for financial audits to be carried out.

  13. Maximum EC-contribution → is related to the type of activity carried out in the project: • Research and Technological Development activities • 75% of eligible costs for non profit public bodies, secondary and higher education establishments, research organizations, SMEs • Management (+ CFS): 100% • Other activities (e.g. dissemination/training): 100%

  14. Useful links • Guidance notes on project reporting: ftp://ftp.cordis.europa.eu/pub/fp7/docs/project_reporting_en.pdf • Guide to Financial Issues: ftp://ftp.cordis.europa.eu/pub/fp7/docs/financialguide_en.pdf • Guidance Notes on Audit Certification: ftp://ftp.cordis.europa.eu/pub/fp7/docs/guidelines-audit-certification_en.pdf • Manual force and ECAS: ftp://ftp.cordis.europa.eu/pub/fp7/docs/presentation-force_en.pdf

More Related