Financial and Administrative Requirements
Hans BenzingerInternational Institute for Applied Systems Analysis (IIASA)
Budget from each partner required
Annual breakdown of cost categories from 2007 to 2012 :
• Details on personnel costs (per employee/position)• Travel / Subsistence for approved trips to meetings• Subcontracts (only metroeconomica)• + 7% Overheads on the subtotal
Note: Changes in personnel can be made at any time butonly for future, not for past periods
Personnel Costs
• Annual Gross Salary (including employers social security contribution)
• Annual productive working time in hours• Hours spent on project evidenced by timesheet records
Annual gross salary / annual hours = hourly rate
hourly rate * hours spent = LIFE related personnel costs
• Timesheets need to display unproductive/non project related hours
• Timesheets need be signed by employee and countersigned by appropriate level
• Download: http://ec.europa.eu/environment/life/toolbox/timesheet.htm
Travel and Subsistence Costs
According to partner institution’s own booking and reimbursement procedures
Copies needed of:• Booking and Payment Confirmation• Boarding Pass• Train/Bus Tickets• Mileage record• Hotel invoices• Subsistence (eg daily rates)
External Assistance (Subcontractors)
Currently there is only one subcontract foreseen for metroeconomica (Task 8)
Copy of:• Contract• Invoices indicating activities• Evidence of payment• Interim and final results
Equipment and Other Costs
Only applicable for the lead partner since there are small amounts for:
• technical equipment• 2 Audits: one for the financial interim report; one for the
final financial report
Interim Financial Report and Interim Payment
• Interim Financial Report to be established by Lead Partner along with claim for interim payment (Statement of Expenditure and Income)
• after cost evidence of 150% of first payment(= Euro 2,650,312) is collated
• 30 % Interim Payment (Euro 1,325,126)• Payment after acceptance of financial interim report to
IIASA• IIASA passes on interim payments according to the costs
each partner has evidenced
For partners outside of Euro-Area:monthly published exchange rates of EU apply
External Audit
NOTE:
Due to the volume of EC4MACS, the interim report needs to be externally audited.
THEREFORE:
• Allow for additional time for auditing process
• All partners are dependent on the performance and timely delivery of sound cost evidence of all partners
Financial Reporting
Quarterly Reporting / One month for delivery of evidence
Deadlines for sending financial records to IIASA:
• 30 Apr 2007: For costs borne in Feb + March (precondition for first payment)
• 31 Jul 2007: For costs borne in Quarter II/2007• 31 Oct 2007: For costs borne in Quarter III/2007• 31 Jan 2008: For costs borne in Quarter VI/2007• 30 Apr 2008: For costs borne in Quarter I/2008
• And so on until end of project
Publicity Evidence
• On project website that is to be established by July 2007 and on any other tool that is part of the project
• Mentioning of LIFE support when EC4MACS is introduced to the public (Radio, TV, press releases etc)