Financial procedures, CASCADE-FELLOWS Kick-off meeting 15 May 2013

15 May 2013 CASCADE-FELLOWS KOM, EMCC Nottingham

CASCADE-FELLOWS

Project Finances and Accounting procedures

Jill HarrisEU Accountant,

University of Nottingham

Agenda

• Budget breakdown• How fellow hosts will be reimbursed• Reporting timetable• Reports• Audits and required evidence

15 May 2013 CASCADE-FELLOWS KOM, EMCC, Nottingham

Budget Breakdown

• Budget per fellow year made up of:– Living allowance } make up– Mobility allowance } fellow’s

salary

– Contribution to research costs – for the host institution


Budget

• BASE FIGURES– Living allowance - €50,000p.a.– Mobility allowance - €700/€500 p.m.

(depending on family obligations)

– Contribution to research costs - €8,900p.a.


Budget

• Appropriate country co-efficient applied to salary figures (2012 work programme – Page74 EU; Page 75 Non-EU)


Budget

• Example in UK– Living allowance - €50,000p.a. x 1.344 = €67,200– Mobility allowance - €700/€500 p.m. =

€500 x 12 = €6,000– Therefore total salary =

€67,200.00+€6,000=€73,200


Budget

• For Example in UK

– Living allowance - €50,000p.a. x 1.344 = €67,200– Mobility allowance - €700/€500 p.m. x 1.344 =

€940.8 x 12 = €11289.60

– Therefore total salary = €67,200.00+

€11,289.60=€78,489.60


Base figures

UK coefficient applied = 100%

Matched funding60%

COFUND funding 40%

Living Allowance

€50,000 €67,200 €40,320 €26,880

Mobility Allowance

€6,000 €6,000 €3,600 €2,400

TOTAL SALARY €56,000 €73,200 €43,920 €29,280

Research costs €8,900 €8,900 €5,340 €3,560

Total €64,900 €82,100 €49,260 €32,840

Budget

• Example in Italy– Living allowance - €50,000p.a. x 1.066 = €53,300– Mobility allowance - €700/€500 p.m. x 12 =

€500 x 12 = €6,000.00


€6,000.00=€59,300.00


Budget

• For Example in Italy


€940.8 x 12 = €11289.60


€11,289.60=€78,489.60


Base figures

Italy coefficient applied = 100%

Matched funding60%

COFUND funding 40%

Living Allowance

€50,000 €53,300 €31,980 €21,320

Mobility Allowance

€6,000 €6,000 €3,600 €2,400

TOTAL SALARY €56,000 €59,300 €35,580 €23,720

Research costs €8,900 €8,900 €5,340 €3,560

Total €64,900 €68,200 €40,920 €27,380

Budget

• Example in Germany– Living allowance - €50,000p.a. x 0.948 = €47,400– Mobility allowance - €700/€500 p.m. =

€500 x 12 = €6,000– Therefore total salary =

€47,400+€6,000 = €53,400


Budget

• For Example in Germany


€940.8 x 12 = €11289.60


€11,289.60=€78,489.60


Base figures

Germany coefficient applied = 100%

Matched funding60%

COFUND funding 40%

Living Allowance

€50,000 €47,400 €28,440 €18,960

Mobility Allowance

€6,000 €6,000 €3,600 €2,400

TOTAL SALARY €56,000 €53,400 €32,040 €21,360

Research costs €8,900 €8,900 €5,340 €3,560

Total €64,900 €62,300 €37,380 €24,920

Reimbursement

• Payment Schedule -– 60% on completion of Researcher Registration

Report & signed Fellowship Agreement– 25% on completion of reports for first fellowship

year*– 15% once fellow completes and submits final

report*

* Combined if 12 month fellowship


Reporting

• Reporting periods as per Grant Agreement:– 1 Apr 2013 – 31 Mar 2015 (24 months)– 1 Apr 2015 – 31 Mar 2017 (24 months)– 1 Apr 2017 – 31 Mar 2018 (12 months)

• All reports need to be submitted to the REA within 60 days of period end


Reporting• Reports – Periodic Report

– Publishable summary– Project Objectives for the Period– Work in Progress and achievements during

period– Deliverables and milestones – Project Management– Report on the Fellowships Awarded– Financial Statement (Form C)– Certificate on the Financial Statement (Audit)


Audits

• Will be an audit at each reporting period• Nottingham as coordinator will be

responsible• Will need evidence from each host

– Signed Fellowship agreement– Contract of employment– Accounts showing salary payments to

fellows


Contact Details

• [email protected]

• Tel : +44 115 8466757


Financial procedures, CASCADE-FELLOWS Kick-off meeting 15 May 2013

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