Financial issues

Financial issues Tips on filling the BASE Excel file Evaluating expenditure Audit

Personnel cost -sheet Person’s category in the project should be one of the following:

Time units • Originally agreed: Month • Everyone must use the same: DAY! • UTU: Month  change • FMI: Hour  change • EEIC: Month  change • UL: Hour  change • RCSF: Days • Total working hours or effective hours • For example total hours = 135 hours / month, 252 days / yr

FMI Otto Hyvärinen Pirkko Pylkkö Hanna Lappalainen Sauli Joro Tuure Takala Kirsi Virolainen EEIC Taimo Aasma Marika Arro Erkki Meikas Uudo Timm Kadri Stenseth Silja Moik Erki Endjärv Roland Müür Kaire Sirel Aleksei Ljamtsev Tiina Dislis Katre Liiv? RCSF Löytönen Eero Nurmi Lasse Virtanen Janne Saarento Heikki Sami Karjalainen? Timo Juvonen? UTU Harri Tolvanen Tapio Suominen Teemu Välimäki Risto Kalliola Niko Humalisto Teemu Välimäki Tuuli Toivonen Eeva Ennola Antti Vasanen Persons listed in Personal Costs Sheet Names written in red are missing and should be added to the PCS • SYKE • Sucksdorff Yrjö • Kallio Minna • Qvarnberg Tuija • Hallin-Pihlatie Lena (replaced) • Järvenpää Elise • Törmä Markus • UL • Raimonds Ernsteins • Daiga Stelmahere • Diana Shulga • Normunds Kadikis • Harijs Baranovs • Janis.. In Pedase

Personnel / Travel costs • Everyone listed in Travel costs –sheet should be mentioned in Personnel costs –sheet • If not  explanation is needed

Choosing a right cost category • Every partner should use the same category for the same expenses • Meeting facilities  External assistance • Conference registration  Other costs

Other reporting issues • Choosing correct words is important: • Duties of managers should be reported in a right way to show that they really work for the project (hiding the word ”management”) • Costs like catering and office supplies should be connected to a certain event, a seminar for example • Partners are responsible for reporting correctly (SAP & Partnership agreement) • Invoice numbers listed in Excel sheets should be exactly the same as in receipt copies

Total costs / categories 41% of total time

% of reported costs in 31.3.05

Problems • Equipments • Over 100%: FMI, EEIC, UL • Need for budget modification? • Agreed: no budget modification • Travel

Overheads • We haven’t reported overheads yet • To be discussed: • What are calculation principles for OVH’s in your organizations: are there actual OVH –invoices or not? • Notice, that OVH’s is either a blunt sum without any receipts or based totally on receipts • 3.7% is not enough

Coping with the 3.7% • Reporting as much costs as possible under other categories  The terminology needs to be seleted carefully • Changing the overhead proportion to 7% • The justification needed individually for each partner • Justification needs to be based on something real • For other partners than UTU, the change is c. 5000€. Is it worth the effort? Agreed: we’ll cope with the 3,7%

Audit in UTU 24.10. • UTU will be audited carefully, partners with less extent • For auditing we need: • Excel sheet • Copies of receipts • Specification of transactions in Envifacilitate account (not own funds) • After auditing & reporting to EC, costs reported in Excel can no more be modified • check your Excels once more, day as the unit in personnel sheets • if something should be added, changed or removed, do it now

Final audit • assignment to the auditor must be given before the project end • the auditing activity may be completed after the project end • 9000€ is set aside for a purpose of audit • will be shared among UTU and the partners

Principles of budget modifications • if costs in a certain category exceed 10% or 10.000 euro • “X euro taken from Y budget category, from action Z, and transferred to Equipment & Travel, for action ZZ” • X, Y, Z, ZZ? • No budget modifications will be made

Financial issues