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Financial and Administrative Management of FLLLEX Project: Key Insights and Guidelines

Join us for an informative session focused on the financial and administrative management of the FLLLEX project, presented by Jan Neyens. This event will cover key topics including the contract with the Education, Audiovisual and Culture Executive Agency (EACEA), eligible costs, and guidelines on staff and travel expenditures. The agenda includes time for presentations, coffee breaks, and a lunch session to facilitate networking among partners from over 10 countries. Don't miss the opportunity to enhance your understanding of the financial framework of this project.

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Financial and Administrative Management of FLLLEX Project: Key Insights and Guidelines

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  1. FLLLEX Financial and administrative management Jan Neyens Finance & Projectadministration Timing: 10.00h presentation 11.00h coffee break 11.15h presentation continuation + questions 12.00h lunch FLLLEX

  2. Financial and administrative management • Welcome to you, “key-players”, in this project: • Partners: • 18 partners (of which HEI’s, experts and national organisations) • Associated Partners: • 3 associated partners • 1 external evaluator • (members of the Advisory Board) • Contractor: • KHLeuven • Agency: • Education, Audiovisual and Culture Executive Agency (EACEA) • from more then 10 countries (be, ie, lt, uk, at, fi, nl, fr, lv, tr, …) ! FLLLEX

  3. Financial and administrative management • Agenda: • Contract with Agency • 75/25 • Eligible costs • Staff • Travel/subsistence • General meeting • Contract with Partners • 75/25 to Partner • Flllex budget • Payments to Contractor • Expenditures • Payments to Partners • Payments schedule • Time sheet • Time sheet example • Calculation of “daily rate” • www.flllex.eu • Contact details FLLLEX

  4. Financial and administrative management • Contract with Agency • Contract between • Agency (=EACEA) • & • Contractor (=KHLeuven) • The contract • (52pages + annexes): • Will be placed on website. FLLLEX

  5. Financial and administrative management • 2. 75/25 • Co-financing - “Grant principle” - 75%/25% • On expenditures (*) there’s a grant of 75%: • Example: • staff cost = 100 euro • Your organisation makes expenditure of 100 euro • Flllex project pays you 75% = 75 euro (*) (*) if expenditure is; • eligible • approved in the budget, with correct invoice, proof of payment, documents, signatures, approved by the Agency (as stated in budget), … FLLLEX

  6. Financial and administrative management • 3. Eligible costs • Eligible costs for FLLLEX fall in the categories: • Staff • Travel/subsistence • Subcontracting • Other FLLLEX

  7. Financial and administrative management • 4. Staff • In Project Handbook • (Guidelines for adm. & fin. Management and Reporting); • Staff = • “Costs relating to the following categories of staff are considered: • Statutory staff, having either a permanent or a temporary employment contract with the partner • Temporary staff, recruited through a specialised external Agency” FLLLEX

  8. Financial and administrative management • 5. Travel/subsistence: • Travel: • use cheapest means of travel • if your travel costs exceed 350 euro you can not claim surplus on top of 350 euro • car travel, in accordance with the internal rules of the organisation concerned, up to a maximum of 0,22 euro per km, with an overall maximum of 350 euro. FLLLEX

  9. Financial and administrative management • 3. Eligible costs • Staff • Travel/subsistence • Subcontracting • Other • => Mainly “Staff” & “Travel/subsistence”. • Please note that Partners are not allowed to move costs from one budget heading to another. • If you doubt, please contact us. FLLLEX

  10. Financial and administrative management • 6. General meeting • Expenditures: • Lunches, hotel, meetings, … paid by KHLeuven (75/25) • Travel paid by partners (75/25) • Guideline: • Budget built to cover expenses for 1 person per organisation to attend meetings • => 1st person “in budget”: 75/25 • => 2nd person: on behalf of partner • Your organisation will receive a detailed list of all costs concerning the General meeting. • Please note we will avoid payments from Partner to Contractor. FLLLEX

  11. Financial and administrative management • 7. Contract with Partners • Please add: • - Bank details; bank account, bank name, iban nr, bic, … • Organisation data; address, name + function of legal representative of organisation who signs, … • signature, name, … • Please return to us (Contractor) 2 signed copies before end of February 2010. FLLLEX

  12. Financial and administrative management • 8. 75/25 to partner • invoices, proof of payment, original/signed documents + evt. “translation note” • signed • - in euro • eligible • (comply with all financial and administrative rules laid out in the Administrative and Financial Handbook, as published on the EACEA website) • three-monthly reports & payments according to “document deadline” dates • - indirect cost: at the end of the project • - documents to be kept until 10 years after the end of the eligible period FLLLEX

  13. Financial and administrative management 9. FLLLEX Budget Staff costs: 397.150 euro Travel/subsistence: 82.967 euro Subcontracting: 40.400 euro Other: 27.565 euro Indirect costs: 38.365 euro Total project expenditures: 586.447 euro Co-financing: 75% (*) Financing Grant: 439.834 euro Partners’ own funding:146.613 euro Total project revenues: 586.447 euro (*) according to the result of the “overall rating” FLLLEX

  14. Financial and administrative management 10. Payments to Contractor (expected schedule): 01/2010: 40% of grant: +175.934 euro 07/2011: 40% (after validation of the interim report): +175.934 euro 09/2012: 20% (after validation of final report): + 87.966 euro Total grant = + 439.834 euro (*) (*) according to the result of the “overall rating” FLLLEX

  15. Financial and administrative management 11. Expenditures according to the budget: expenditure 01/2010 -> 07/2011 62,5% of total budget: -366.590 euro 07/2011-> 08/2012 37,5% of total budget: -219.857 euro 9/2012 Total: -586.447 euro FLLLEX

  16. Financial and administrative management 11’ Expenditures according to the budget: expenditure 75% of exp 01/2010 -> 07/2011 62,5% of total budget: -366.590 euro 274.942 euro 07/2011-> 08/2012 37,5% of total budget: -219.857 euro164.892 euro 9/2012 Total: -586.447 euro 439.834 euro FLLLEX

  17. Financial and administrative management 11’’ Expenditures according to the budget: expenditure 75% of exp grant 01/2010 -> 07/2011 62,5% of total budget: -366.590 euro 274.942 euro +175.934 euro 07/2011-> 08/2012 37,5% of total budget: -219.857 euro164.892 euro +175.934 euro 9/2012 + 87.966 euro Total: -586.447 euro 439.834 euro +439.834 euro FLLLEX

  18. Financial and administrative management 12. Payments to Partner: Three monthly payments: Example: Expenditure: -100 euro Three-monthly payment (66,66% of grant): + 50 euro Payment at end of project (33,33% of grant): + 25 euro FLLLEX

  19. Financial and administrative management 13. Payments schedule On last Thursday of March, June, September & December we ask you to send us declarations. Two weeks later we pay you 66,66% of the grant. “deadline agenda” with exact data: on website. Rest of grant (33,33%) will be paid when receiving the final report & the final payment from EACEA. FLLLEX

  20. Financial and administrative management • 14. Time Sheet • - Invoices or salary slip, proof of payment, original/signed documents, (employment) contract (+ “translation note”) • - in euro • - eligible ! • documents to be kept until 10 years after the end of the eligible period • Please note: • - sending three-monthly, see “deadline agenda” for three-monthly payments • - you should use 1 time sheet per staff member involved in the project • - “Daily rate” to be calculated per staff member FLLLEX

  21. Financial and administrative management • 15. Time Sheet – example: • Fill in: • Name organisation + partner nr • Name of staff member • Daily Rate • Month(s) and year • Annexes • Worked days (in whole days) • Description of activity • Will be placed on website. FLLLEX

  22. Financial and administrative management 16. Calculation of “Daily Rate” Step 1 - Gross annual salary in euro Employee’s basic salary plus any contributions made by the employer, pension costs and so on. Bonuses not included. Example: 10.000 + 3.000 + 1.000 = 14.000 (Salary + taxes + pension) Step 2 - Number of working days Example: 52 x 5 days – 25 days – 6 days = 229 days (weeks – annual leave – national holidays) Step 3 - Daily rate Example: 14.000 / 229 = 61 Please note there are maximum daily rates by the EC. FLLLEX

  23. Financial and administrative management • 17. www.flllex.eu • Contract with EACEA • Calculation of “Daily Rate” • Time sheet • “Deadline agenda” for three-monthly payments • FAQ • link to the exchange rate • … FLLLEX

  24. Financial and administrative management 18. Contact Financial & administrative: Jan Neyens Finance & Projectadministration Phone: +32 -16-375 723 Mail: jan.neyens@khleuven.be Nadia Falise Head of financial & administrative services Phone: +32 -16-375 720 Mail: nadia.falise@khleuven.be Klaas Vansteenhuyse Head International Office Phone: +32 -16-375 735 Mail: klaas.vansteenhuyse@khleuven.be KHLeuven Abdij van Park 9 B-3001 Leuven FLLLEX

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