F LLL EX

1. FLLLEX Financial and administrative management Jan Neyens 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 • Project meetings • 75/25 to Partner • Budget • Payments • To contractor • To partner • important • Contact FLLLEX

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

7. 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

8. 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

9. 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

10. 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

11. Financial and administrative management 6. FLLLEX Budget originaladapted Staff costs: 397.150 euro Travel/subsistence: 82.967 euro Subcontracting: 40.400 euro => 50.900 euro Other: 27.565 euro => 17.065 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

12. 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

13. Financial and administrative management 7.2 Payments to Partner: 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

14. Financial and administrative management Example – principle of 50%/25% budgetreal Staff costs: 95.000 euro 95.000 euro Travel: 3.000 euro 3.000 euro Subsistence: 2.000 euro 2.000 euro Subcontracting: 0 euro Other: 0 euro 0 euro Budget expenditures: 100.000 euro 100.000 euro Payment during project 50% = 50.000 euro Payment to do 25% = 25.000 euro Grant = 75% = 75.000 euro (*) indirect costs (eg 1.000 euro)= 1.000 euro Grant on indirect cost = 750 euro (*) Total Grant = 75.750 euro (*) FLLLEX

15. Financial and administrative management Example - including an “advance payment” budgetreal Staff costs: 95.000 euro 95.000 euro Travel: 3.000 euro 3.000 euro Subsistence: 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 euro Payment to do 25% = 24.500 euro Grant = 75% = 73.000 euro (*) indirect costs (eg 1.000 euro) = 1.000 euro Grant on indirect cost = 750 euro (*) Total Grant (on bank account)= 73.750 euro (*) FLLLEX

16. 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

17. Financial and administrative management 9. Contact Finance & administration: Jan Neyens Finance & Projectadministration Phone: +32 -16-375 723 Mail: jan.neyens@khleuven.be KHLeuven Abdij van Park 9 B-3001 Leuven FLLLEX