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Financial Status

Financial Status. EGEE Collaboration Board – Athens – April 20 th , 2005. Severine Bergerot. Content. Feedback on the overall P1 process Financial Statement status Next Payments Next Submissions

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Financial Status

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  1. Financial Status EGEE Collaboration Board – Athens – April 20th, 2005. Severine Bergerot

  2. Content • Feedback on the overall P1 process • Financial Statement status • Next Payments • Next Submissions Please take note of all your questions and keep them for the open Q&A session (agenda point 5) Financial Status, Collaboration Board, 20th April 2005

  3. Feedback on the overall process Thanks…… Financial Status, Collaboration Board, 20th April 2005

  4. Financial Statement status • Requested Contribution for P1: 10,332 kEur • Expected Amount accepted by the EU: 10,212 kEur • Expected Amount rejected by the EU: 120 kEur • Small administrative concerns • Forms signed by a person not in the CPF • Exchange rates not indicated • Wrong exchange rates • Main big issues • Cases in which the work was not done by the contracting participant and all legal procedures to allow it had not been fulfilled • Partners concerned • 39 - UiB • 34 - KU-NATFAK Financial Status, Collaboration Board, 20th April 2005

  5. Next Payments • Depending on the contract amendment submission and final acceptance of cost statement • For the money received till now: • The accepted costs (10.2MEuro) get the status of ‘payment’ • The difference between the money received and the costs accepted will be deducted from pre-financing 2 • The EU should issue Pre-financing 2 by the end of June • PF2= 85%*(total remaining budget)-(PF1-Accepted CostsP1) • Scheme applied to each partner… • A table will be distributed for approval as soon as the final figures are known Financial Status, Collaboration Board, 20th April 2005

  6. Next Submissions • Monthly Timesheets at M+5 • Quarterly ICC at Q+15 • Final Form C and audit certificates • ASAP after March 31st 2006 • All costs must be actual and certified Financial Status, Collaboration Board, 20th April 2005

  7. Y1 financial situation • After one year, 14.4MEuro has been spent • This represents 45% of our total maximum EU contribution Financial Status, Collaboration Board, 20th April 2005

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