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Financial rules in FP7 Some basics normal accounting and management principles

Financial rules in FP7 Some basics normal accounting and management principles no ”special solutions” for FP7 necessary, economic within contract period Direct costs = actual costs (accounting) (*) Indirect costs = flat rates or real indirect costs Time records !!

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Financial rules in FP7 Some basics normal accounting and management principles

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  1. Financial rules in FP7 • Some basics • normal accounting and management principles • no ”special solutions” for FP7 • necessary, economic • within contract period • Direct costs = actual costs (accounting) (*) • Indirect costs = flat rates or real indirect costs • Time records !! --------------------------------------- (*) Exception: Marie Curie Actions have country specific fixed rates

  2. Reimbursement rates per activity

  3. Project types – reimbursement Collaborative projects • Direct costs + Indirect costs 60% = = Total Costs Reimbursement of Total Costs • RTD activity: 75 % • Demonstration: 50 % • Management: 100% • Other activity: 100 % Coordination and Support Actions • Direct costs + Indirect costs x % = = Total Costs Reimbursement of Total Costs (100%) - Direct Costs + Indirect costs 7 %

  4. Novelties in FP 7 (Time frame: First projects to start in January 2008, first reporting in January 2009) • Additional Cost is gone  ”Eligible Cost” • 60 % flat rate oh & 75 % reimbursement • (Collaborative Projects/RTD Activity) • (Demon. 50%; Mgmnt 100 %; Other act. 100 %) •  ALL types of staff ! • Management cost • - no longer a 7 % limit  negotiation …… • - only financial and administrative management; • RTD management in RTD activity • Audit certificate: fewer, almost none • - only if cumulative contribution is > 375 000 € • - not mandatory at project end • Prefinancing • - 1st instalment = 160 % of an average contribution per reporting period, minus 5 % of total contribution (goes to guarantee fund) • - 2nd instalment = 1st year’s accepted contribution • - etc • - last instalment = 90 % of contribution minus what has already been paid

  5. Shared cost ; RTD activities Eligible Cost • Indirect cost /OH : • flat 60 % x dir. cost (not subcontr.) • or: real overhead Subcontracting Other spec. costs Consumables Other direct costs Travel Direct costs Durable equipm.) • Personnel • >Gross salary & social charges EU pays 75 (50) % ”Contribution” • All costs: • normal accounting principles • actual, necessary, economic • within project/accounting/period • - ”actual hours” => time records !! N.B. Official cost categories are ’Personnel’, ’Subcontracting’; ’Other’ ( sub-categories project specific & traditional )

  6. Shared cost for CSA/ Coordination and Support Actions ; 100% reimbursement • Indirect cost /OH : • flat 60 % x dir. cost (not subcontr.) • !! OH payment = • max 7% !! Subcontracting Other spec. costs Consumables EC contribution Other direct costs Direct costs Total cost Travel Durable equipm. • Personnel • all types of staff charged as direct cost Official cost categories: ’Personnel’, ’Other direct costs’;’Subcontracting’; ’Indirect costs’; others only ”project specific” & traditional • All costs: • normal accounting principles • actual, necessary, economic • within project/accounting/period • Time records !

  7. FP6/ Additional Cost (oh 20 %) 100 % EU pays 120 OH 20 Dir 100 FP7 / Collaborative Project/RTD (oh 60 %) 75 % FP7 / CSA (oh 7 %) 100 % (Coordination and Support Actions EU pays 120 OH 60 OH 7 EU pays 107 Dir 100 Dir 100 75 25 FP7 / ERC (oh 20 %) 100 % (European Research Council) FP7 / Marie Curie (oh 10 %) 100 % EU pays 120 OH 20 EU pays 110 OH 10 Dir 100 Dir 100

  8. Shared cost ; RTD activities 7:e ramprogrammet Additional Cost x 100 % Eligible Cost x 75 % • Same reimbursement! • 100 +20 = 120 • (100 + 60) x ¾ =120 • Indirectcost /OH : • flat 60 % x dir.cost (not subcontr.) • (- or: real overhead) OH : 20 % x dir. cost (not subcontr.) Subcontracting Subcontracting Other spec. costs Other spec. costs Consumables Consumables Other direct costs Travel Travel Direct costs Durable equipm. (>20 kSEK) Durable equipm. • Personnel • ”temporary” types of staff charged as direct cost • Personnel • >All types of staff charged as direct cost EU pays 75 % Own resources: staff, overhead ”Contribution” • All costs: • normal accounting principles • actual, necessary, economic • within project/accounting/period • - ”actual hours” => time records !! N.B. Official cost categories are ’Personnel’, ’Subcontracting’; ’Other’ ( sub-categories project specific & traditional )

  9. Shared cost for ERC projects Eligible Cost x 100 % OH : 20 % x dir. cost (not subcontr.) Subcontracting Other spec. costs Consumables Total cost = EC contribution Travel Direct costs Durable equipm. • Personnel • all types of staff charged as direct cost Own resources: staff, overhead • All costs: • normal accounting principles • actual, necessary, economic • within project/accounting/period • Time records ! N.B. Official cost categories are ’Personnel’, ’Other direct cost’; ’Subcontracting’; others only ”project specific” & traditional

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