Georges Divaris 18.11.2014 IMI 5th Financial Workshop Brussels, Belgium

Reporting requirements

The Coordinator shall: review the reports to verify consistency with the project tasks

before transmitting them to the IMI JU; monitor the compliance by participants with their obligations

under the grant agreement; Instruct the managing entity to administer the IMI JU financial

contribution regarding its allocation and distribution between beneficiaries and activities.

Role of the Coordinator

Roles of coordinator and of managing entity of the IMI JU funding

The Managing Entity shall: keep the records and financial accounts making it possible to

determine at any time what portion of the IMI JU financial contribution has been paid to each beneficiary for the purposes of the project;

inform the coordinator and the IMI JU of the distribution of the IMI JU financial contribution and the date of transfers to the beneficiaries when requested;

ensure that all the appropriate payments are made to the beneficiaries without unjustified delay.

Role of the Managing Entity

Roles of coordinator and of managing entity of the IMI JU funding

Grant agreement Core Grant Agreement Annex I - DoW , former Full Project Proposal (FPP) Annex II – General Conditions Annex III – Form A – Accession Forms Annex IV – Form B - Accession Forms for new participants Annex V – Form C – Financial statement Annex VI – Form D – Certificate on the financial Statements (CFS) List of Special clauses

IMI Financial Guidelines Amendments Guide for IMI projects FP7 Guidance notes for CFS

Reference documents

Reporting timelines

Consortium 60 days

to prepare and submit

the report through the coordinator

Months –see GA

Reporting

period

IMI 90 days to approve and pay - without suspension periods

Max. 90 days 60 days

Start date End date Reporting Payment

Individual Form C (Financial statement); Summary Financial Report; Periodic report, including “use of resources”; CFS – Certificate on financial statements, if applicable.

Interim reports

Content of the reports

Final report

All the above; Report on the distribution of the IMI JU financial contribution

between beneficiaries (30 days after the final payment).

Reporting actors

All participants: Beneficiaries; EFPIA companies; Third parties (under special clause 4); Other participants (under special clause 11).

Each group has separate FORM C

Reporting workflow

Coordinator with the support of the Managing Entity

IMI JU

Periodic Report Forms C and CFS

EFPIA participants

Beneficiaries 3rd parties (SC4)

Affiliates

Participants (SC11)

3rd parties (making resources available)

Receipts of the project

Income generated by the project; Contribution in-kind or financial transfers or their equivalent

from third parties (legal entities not participating in the GA); Financial contribution from EFPIA companies and their

affiliated entities or from participants which are neither beneficiary nor an EFPIA company.

Form C – Financial Statement (upper part)

Project nr Funding schemeProject Acronym

Period from dd/mm/yyyyTo dd/mm/yyyy

Legal Name nnOrganisation short Name nn

75%

RTD(A)

Management (B)

Training(C)

Other (D)

TOTAL (A+B+C+D)

Personnel costs

Subcontracting

Other direct costs

Sub-total direct costs

Indirect costs

Total

Maximum IMI JU contribution

Requested IMI JU contribution

Indirect CostsFunding % for RTD activities (A) Method based on actual indirect costs?

Method based on flat rate of 20 %?

1- Declaration of eligible costs (in €)

nnnnnn

Participant number in the project

Is this an adjustment to a previous statement ?

ANNEX V - FORM CFINANCIAL STATEMENT - to be filled in by each beneficiary

IMI Research Projectxxxxxxxxxxxxxxxxxxxxx

Participant Identity Code (PIC)

Type of Activity

Form C – Financial Statement (lower part)

If yes, please mention the amount (in €)

If yes, please mention the amount (in €)

4- Certificate on the methodology

5- Certificate on the financial statements

Name of the auditor

If yes, please mention the amount (in €)

Is there a certificate on the financial statements provided by an independent auditor attached to this financial statement according to Art. II.4.4 of the grant agreement? (The requirement to provide a certificate on the financial statements shall be waived for those beneficiaries that declare personnel and indirect costs on the basis of a certified methodology approved by the European Commission within the Seventh Framework Programme in accordance with Art. II.13.2. of the grant agreement, except for the final reporting period; Art. II.4.5 of the grant agreement.)

3- Declaration of interest yielded by the pre-financing (only for the managing entity of the IMI JU funding )

Is there a certified methodology provided by an independent auditor and approved by the European Commission according to Art. II.13.2 of the grant agreement?

Cost of the certificate (in €)

2- Declaration of receipts2a) Did you receive any financial contribution from an EFPIA company?

2b) Other receiptsDid you receive any financial transfers or contributions in kind, free of charge from third partiesor from a participant under special clause 11, or did the project generate any income which could be considered a receipt according to Art. II.16 of the grant agreement?

Did the pre-financing you received generate any interest according to Art. II.18 of the grant agreement?

Do you declare average personnel costs according to Art. II.13.2 of the grant agreement?

Form C – Adjustment to previous periods

Separate Form C (1 Form C per adjusted period)

Only the difference must be reported, i.e. positive

or negative adjustment compared to the amounts which have already been reported.

Form C – Adjustment to previous periods

Period 1 (claimed)

Period 1 (revised)

Adjustment to Period 1

Total eligible direct costs 100,000 95,000 -5,000

Overhead 20% 20,000 19,000 -1000

Total 120,000 114,000 -6,000

IMI JU requested contribution 75% 90,000 85,500 -4,500

Summary Financial Report

Periodic report

Scientific report Use of resources – financial part 1 table for each participant 1 table for each adjustments

Periodic report TABLE PERSONNEL, MAJOR COST INCLUDING SUBCONTRACTING

[Beneficiary number and name] – [if applicable, adjustment to Period n] Work relevant to Work- Package(s) Item description Amount in € Explanations of the use of resources

… Personnel direct costs Functions and FTEs / No names!!!

Subcontracting, [if foreseen in Description of Work]

Description of the tasks performed (only minor tasks can be subcontracted)

Consumables [if applicable] Describe main cost items Equipment depreciation [if

applicable] e.g. purchase of important equipment (provide

detail), Travel costs Date, place and purpose.

Indirect costs e.g. 20% flat rate, actual indirect costs, N/A (included in FTE )

TOTAL COSTS

Budget for the period

Deviation

The CFS includes three parts (to be signed and dated): The terms of reference; The report of factual findings; The table of procedures.

Content

CFS – Certificate on Financial statements

To be submitted by: Beneficiary and third parties (special clause 4); EFPIA companies.

The CFS must be prepared by an independent certified auditor.

Who?

CFS – Certificate on Financial statements

Required when cumulative IMI JU contribution / total in-kind contribution declared in the FORM(S) C exceed 375k EUR (current and previous uncertified periods);

Requirement to submit intermediate CFS is waived for participants having a certified methodology;

In any case for the final report, notwithstanding the amount (changes in the GA to be communicated in due time).

When?

CFS – Certificate on Financial statements

Analysis by: Scientific (Project) Officer Financial Officer

Comparison to Annex I (DoW) and SOFIA, in particular

deliverables, milestones, budget, subcontracting

If Documents are missing or if the report is incomplete –> the time limit is suspended (« Stop the clock »)

How does IMI analyse the reports ?

Analysis of reports

Prefinancing:

𝑇𝑇𝑇𝑇𝑇𝑇𝑇𝑇𝑇𝑇 𝐼𝐼𝐼𝐼𝐼𝐼 𝑐𝑐𝑇𝑇𝑐𝑐𝑇𝑇𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑇𝑇𝑐𝑐𝑇𝑇𝑐𝑐𝑐𝑐𝑐𝑐𝑛𝑛𝑐𝑐𝑛𝑛𝑐𝑐 𝑇𝑇𝑜𝑜 𝑝𝑝𝑛𝑛𝑐𝑐𝑐𝑐𝑇𝑇𝑝𝑝𝑝𝑝

× 160%

Interim payments: Reimbursement of accepted requested IMI

contribution. 90% rule: Prefinancing plus the sum of the interim payments

cannot exceed 90 % of the max. IMI contribution. The remaining amount will be paid with the final payment.

Interim Payments – cash flow

Final Payment – cash flow

The final payment is made after the approval of the final reports;

It consists of the difference between the accepted IMI JU financial contribution (on the basis of the eligible costs) minus the amounts already paid (taking into account the 90% rule);

The total payment is however limited to the maximum IMI JU financial contribution as stipulated in Article 5 of the GA.

Questions?

www.imi.europa.eu @IMI_JU

Thank you