FLLLEX

FLLLEXFinancial and administrative management

Jan Neyens

FLLLEX

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

Financial and administrative management

Agenda:1. Contract with Agency2. 75/253. Eligible costs

1. Staff2. Travel/subsistence

4. Project meetings5. 75/25 to Partner6. Budget7. Payments

1. To contractor2. To partner

8. important9. Contact

FLLLEX

Financial and administrative management

1. Contract with Agency

Contract betweenAgency (=EACEA)&Contractor (=KHLeuven)

The contract(52 pages + annexes):

Placed on website.

FLLLEX

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

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

Financial and administrative management

3.1 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

Financial and administrative management

3.2 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

Financial and administrative management

4. Project meetings

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 meeting.

Please note we will avoid payments from Partner to Contractor.

FLLLEX

Financial and administrative management

5. 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)

- indirect cost: at the end of the project- documents to be kept until 10 years after the end of the eligible period

FLLLEX

Financial and administrative management

6. FLLLEX Budget original adapted

Staff costs: 397.150 euroTravel/subsistence: 82.967 euroSubcontracting: 40.400 euro => 50.900 euroOther: 27.565 euro => 17.065 euroIndirect costs: 38.365 euroTotal project expenditures: 586.447 euro

Co-financing: 75% (*)

FinancingGrant: 439.834 euroPartners’ own funding: 146.613 euroTotal project revenues: 586.447 euro

(*) according to the result of the “overall rating”

FLLLEX

Financial and administrative management

7.1 Payments to Contractor:

01/2010: 40% of grant: +175.934 euro

07/2011: 40% (after validation of the interim report): +175.934 euro

earliest 10-12/2012:20% (after validation of final report): + 87.966 euro

Total grant = + 439.834 euro (*)

(*) according to the result of the “overall rating”

FLLLEX

Financial and administrative management

7.2 Payments to Partner:

Example:Expenditure: -100 euroThree-monthly payment (66,66% of grant): + 50 euroPayment at end of project (33,33% of grant): + 25 euro

FLLLEX

Financial and administrative management

Example – principle of 50%/25% budget real

Staff costs: 95.000 euro 95.000 euroTravel: 3.000 euro 3.000 euroSubsistence: 2.000 euro 2.000 euroSubcontracting: 0 euroOther: 0 euro 0 euroBudget expenditures: 100.000 euro 100.000 euro

Payment during project 50% = 50.000 euroPayment to do 25% = 25.000 euroGrant = 75% = 75.000 euro (*)

indirect costs (eg 1.000 euro)= 1.000 euroGrant on indirect cost = 750 euro (*)

Total Grant = 75.750 euro (*)

FLLLEX

Financial and administrative management

Example - including an “advance payment” budget real

Staff costs: 95.000 euro 95.000 euroTravel: 3.000 euro 3.000 euroSubsistence: 2.000 euro 2.000 euro (**)Budget expenditures: 100.000 euro 100.000 euro

Payment (in budget) by KHLeuven : 2.000 euro

Payment during project = 48.500 euroPayment to do 25% = 24.500 euroGrant = 75% = 73.000 euro (*)

indirect costs (eg 1.000 euro) = 1.000 euroGrant on indirect cost = 750 euro (*)

Total Grant (on bank account)= 73.750 euro (*)

FLLLEX

Financial and administrative management

8. Important !

•Please send us declarations of all expenses of staff, subsistence, travel, … before 1st of July 2012

•If you need more information or explanation on your individual budget and expenses until now, or want an overview until now, let me know before 1st of June 2012.

FLLLEX

Financial and administrative management

9. Contact Finance & administration:

Jan NeyensFinance & ProjectadministrationPhone: +32 -16-375 723Mail: jan.neyens@khleuven.be

KHLeuvenAbdij van Park 9B-3001 Leuven