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EURO4M Financial aspects of the project

EURO4M Financial aspects of the project. Contents presentation:. Euro4M General Financial and Legal aspects so far Reporting Difference FP7 vs. FP6 Eligible costs Non-eligible costs Audit report Pre-financing. Euro4M General. Euro4M financed by European Union

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EURO4M Financial aspects of the project

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  1. EURO4MFinancialaspects of the project

  2. Contents presentation: • Euro4M General • Financial and Legal aspects so far • Reporting • Difference FP7 vs. FP6 • Eligible costs • Non-eligible costs • Audit report • Pre-financing

  3. Euro4M General • Euro4M financed by European Union • Project within the FP7 program • Specific regulation by the European Commission • From financial/legal aspect attendance to the “Financial Guidance” • Start date April 1st • Duration 48 months • Available budget for the project 3.989.200 euro • Divided among 9 partners • Coordination by KNMI

  4. Financial and Legal aspects so far • Proposal • Evaluation by the EC (13 points out of 15) • Negotiation phase • Grant Preparation Forms (already signed) • Grant Agreement (to be signed within 45 days) • Consortium Agreement (to be signed) • Start of the project (1st April 2010)

  5. Reporting Reporting periods for Euro4M are as follows: • P1: from month 1 to month 12 • P2: from month 13 to month 24 • P3: from month 25 to month 36 • P4: from month 37 to the last month of the project (expected 48) First reporting from April 1st 2010 till March 31th 2011 Reporting: • within 45 days to the EC • use of Form-C for financial part • and reporting on the performed research (project results)

  6. Difference FP7 vs. FP6 Not to much: • General changes like possibilities for: duration, calls, themes and new activities • Some terminology Financial changes in relation to EURO4M: • Terms for eligible costs didn’t change • Audit certificate!

  7. Eligible costs Financial Guide: Article II.14 Criteria: • Actual (real) • Incurred by the beneficiary • Incurred during the duration of the project • Determined according to the usual accounting principles • Used for the sole purpose of achieving the objectives of the project and it’s expected results, in a manner consistent with the principles of economy, efficiency and effectiveness. • Recorded in the accounts of the beneficiary • Have been indicated in the estimated overall budget

  8. Non-eligible costs Financial Guide: Article II.14.3 For instance: • Taxes (including VAT) • Duties • Interest • Provisions for possible future losses • Exchange losses • Cost declared or incurred, or reimbursed in respect of another community project • debt and debt service charges, excessive or reckless expenditure

  9. Audit report Financial Guide: Article II.4.4 • Certificates on the Financial Statements (CFS) should be provided only once the threshold of EUR 375.000 has been reached. • This means only one audit certificate during the project for partners 1, 2 and 5 till 9 (KNMI, MO, MS, DWD, SMHI, UEA and MF). • Partners 3 and 4 (URV and NMA-RO) don’t need a audit certificate. • Once a audit certificate is given; there is no need for another certificate only when the threshold of 375.000 euro is reached again (this means also for the project end).

  10. Pre-financing • First pre-financing 35% of the total budget = EUR 1.396.220 • To each participant will be transferred 35% of the partners budget • Payment arrangement are made

  11. Contact If there are questions on financial or legal matters please contact: Project leader: Albert Klein Tank Project assistant: Karin van der Schaft Project (financial) controller: Jeroen Sassen E-mail: sassen@knmi.nl Mail: PO-box 201, 3730 AE, De Bilt, Netherlands Phone: +31 30 2206 464

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