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F LLL EX

FLLLEX Financial and administrative management Jan Neyens Finance & Projectadministration Timing: 10.00h presentation 11.00h coffee break 11.15h presentation continuation + questions 12.00h lunch. F LLL EX. Financial and administrative management.

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F LLL EX

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  1. FLLLEX Financial and administrative management Jan Neyens Finance & Projectadministration Timing: 10.00h presentation 11.00h coffee break 11.15h presentation continuation + questions 12.00h lunch 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 • General meeting • Contract with Partners • 75/25 to Partner • Flllex budget • Payments to Contractor • Expenditures • Payments to Partners • Payments schedule • Time sheet • Time sheet example • Calculation of “daily rate” • www.flllex.eu • Contact details FLLLEX

  4. Financial and administrative management • Contract with Agency • Contract between • Agency (=EACEA) • & • Contractor (=KHLeuven) • The contract • (52pages + annexes): • Will be 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 • Eligible costs for FLLLEX fall in the categories: • Staff • Travel/subsistence • Subcontracting • Other FLLLEX

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

  12. 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

  13. Financial and administrative management 9. FLLLEX Budget Staff costs: 397.150 euro Travel/subsistence: 82.967 euro Subcontracting: 40.400 euro Other: 27.565 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

  14. 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

  15. Financial and administrative management 11. Expenditures according to the budget: expenditure 01/2010 -> 07/2011 62,5% of total budget: -366.590 euro 07/2011-> 08/2012 37,5% of total budget: -219.857 euro 9/2012 Total: -586.447 euro FLLLEX

  16. Financial and administrative management 11’ Expenditures according to the budget: expenditure 75% of exp 01/2010 -> 07/2011 62,5% of total budget: -366.590 euro 274.942 euro 07/2011-> 08/2012 37,5% of total budget: -219.857 euro164.892 euro 9/2012 Total: -586.447 euro 439.834 euro FLLLEX

  17. Financial and administrative management 11’’ Expenditures according to the budget: expenditure 75% of exp grant 01/2010 -> 07/2011 62,5% of total budget: -366.590 euro 274.942 euro +175.934 euro 07/2011-> 08/2012 37,5% of total budget: -219.857 euro164.892 euro +175.934 euro 9/2012 + 87.966 euro Total: -586.447 euro 439.834 euro +439.834 euro FLLLEX

  18. Financial and administrative management 12. Payments to Partner: Three monthly payments: 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

  19. 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

  20. 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

  21. 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

  22. Financial and administrative management 16. Calculation of “Daily Rate” Step 1 - Gross annual salary in euro Employee’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 days Example: 52 x 5 days – 25 days – 6 days = 229 days (weeks – annual leave – national holidays) Step 3 - Daily rate Example: 14.000 / 229 = 61 Please note there are maximum daily rates by the EC. FLLLEX

  23. 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

  24. Financial and administrative management 18. Contact Financial & administrative: Jan Neyens Finance & Projectadministration Phone: +32 -16-375 723 Mail: jan.neyens@khleuven.be Nadia Falise Head of financial & administrative services Phone: +32 -16-375 720 Mail: nadia.falise@khleuven.be Klaas Vansteenhuyse Head International Office Phone: +32 -16-375 735 Mail: klaas.vansteenhuyse@khleuven.be KHLeuven Abdij van Park 9 B-3001 Leuven FLLLEX

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