f lll ex financial and administrative management jan neyens finance & projectadministration...

FLLLEX

FLLLEXFinancial and administrative management

Jan NeyensFinance & Projectadministration

Timing:10.00h presentation11.00h coffee break11.15h presentation continuation + questions12.00h lunch

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 costs4. Staff5. Travel/subsistence6. General meeting7. Contract with Partners8. 75/25 to Partner9. Flllex budget10. Payments to Contractor11. Expenditures12. Payments to Partners13. Payments schedule14. Time sheet15. Time sheet example16. Calculation of “daily rate”17. www.flllex.eu18. Contact details

FLLLEX

Financial and administrative management

1. Contract with Agency

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

The contract(52pages + annexes):

Will be 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

Eligible costs for FLLLEX fall in the categories:

• Staff• Travel/subsistence• Subcontracting• Other

FLLLEX

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

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

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

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

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

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

Financial and administrative management

9. FLLLEX Budget

Staff costs: 397.150 euroTravel/subsistence: 82.967 euroSubcontracting: 40.400 euroOther: 27.565 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

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

Financial and administrative management

11. Expenditures according to the budget:

expenditure01/2010 -> 07/201162,5% of total budget: -366.590 euro

07/2011-> 08/201237,5% of total budget: -219.857 euro

9/2012

Total: -586.447 euro

FLLLEX

Financial and administrative management

11’ Expenditures according to the budget:

expenditure 75% of exp01/2010 -> 07/201162,5% of total budget: -366.590 euro 274.942 euro

07/2011-> 08/201237,5% of total budget: -219.857 euro 164.892 euro

9/2012

Total: -586.447 euro 439.834 euro

FLLLEX

Financial and administrative management

11’’ Expenditures according to the budget:

expenditure 75% of exp grant

01/2010 -> 07/201162,5% of total budget: -366.590 euro 274.942 euro +175.934 euro

07/2011-> 08/201237,5% of total budget: -219.857 euro 164.892 euro +175.934 euro

9/2012 + 87.966 euro

Total: -586.447 euro 439.834 euro +439.834 euro

FLLLEX

Financial and administrative management

12. Payments to Partner:

Three monthly payments:

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

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

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

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

Financial and administrative management

16. Calculation of “Daily Rate”

Step 1 - Gross annual salary in euroEmployee’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 daysExample:52 x 5 days – 25 days – 6 days = 229 days(weeks – annual leave – national holidays)

Step 3 - Daily rateExample:14.000 / 229 = 61

Please note there are maximum daily rates by the EC.

FLLLEX

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

Financial and administrative management

18. Contact Financial & administrative:

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

Nadia FaliseHead of financial & administrative servicesPhone: +32 -16-375 720Mail: nadia.falise@khleuven.be

Klaas VansteenhuyseHead International OfficePhone: +32 -16-375 735Mail: klaas.vansteenhuyse@khleuven.be

KHLeuvenAbdij van Park 9B-3001 Leuven