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Financial Status

Feedback on P1 process, financial statement status, next payments, and submissions discussed at Collaboration Board Meeting on April 20th, 2005 in Athens. Detailed insights on contributions, payments, submissions, and overall financial situation reviewed.

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Financial Status

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  1. Financial Status EGEE Collaboration Board – Athens – April 20th, 2005. Severine Bergerot

  2. Content • Feedback on the overall P1 process • Financial Statement status • Next Payments • Next Submissions Please take note of all your questions and keep them for the open Q&A session (agenda point 5) Financial Status, Collaboration Board, 20th April 2005

  3. Feedback on the overall process Thanks…… Financial Status, Collaboration Board, 20th April 2005

  4. Financial Statement status • Requested Contribution for P1: 10,332 kEur • Expected Amount accepted by the EU: 10,212 kEur • Expected Amount rejected by the EU: 120 kEur • Small administrative concerns • Forms signed by a person not in the CPF • Exchange rates not indicated • Wrong exchange rates • Main big issues • Cases in which the work was not done by the contracting participant and all legal procedures to allow it had not been fulfilled • Partners concerned • 39 - UiB • 34 - KU-NATFAK Financial Status, Collaboration Board, 20th April 2005

  5. Next Payments • Depending on the contract amendment submission and final acceptance of cost statement • For the money received till now: • The accepted costs (10.2MEuro) get the status of ‘payment’ • The difference between the money received and the costs accepted will be deducted from pre-financing 2 • The EU should issue Pre-financing 2 by the end of June • PF2= 85%*(total remaining budget)-(PF1-Accepted CostsP1) • Scheme applied to each partner… • A table will be distributed for approval as soon as the final figures are known Financial Status, Collaboration Board, 20th April 2005

  6. Next Submissions • Monthly Timesheets at M+5 • Quarterly ICC at Q+15 • Final Form C and audit certificates • ASAP after March 31st 2006 • All costs must be actual and certified Financial Status, Collaboration Board, 20th April 2005

  7. Y1 financial situation • After one year, 14.4MEuro has been spent • This represents 45% of our total maximum EU contribution Financial Status, Collaboration Board, 20th April 2005

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