EcoPlasBrick 36M MEETING - Venezia 19th June 2014 EcoPlasBrick Innovative recycled plastic based...

EcoPlasBrick

36M MEETING - Venezia 19th June 2014

EcoPlasBrickInnovative recycled plastic based

panels for building field

Final MEETING

Venezia, 19 June 2014

AGREEMENT NUMBER: ECO/10/277233/SI2.596954

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Financial & Administrative Issues

Budget:

Total eligible costs of the action are estimated at 1.832.066 €.

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Duration of the project:

• Starting date – 01/07/2011• Duration – 36 months

• Reporting periods: Month 1 – Month 10 – First technical progress report Month 1 – Month 20 – Interim technical implementation report and Interim financial statements Month 21 – Month 28 – Second technical progress report Month 1 – Month 36 – Final technical implementation report and Final financial statements + where required, Certificates on the financial statements

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Eligibility criteria:

• Costs must relate to the action and be necessary• Costs must be reasonable and justified• Costs must have been budgeted• Costs must be generated during the period of the action,

i.e. from contract start (exception of costs relating to final reports and audit certificates -> Max. + 2 months)

• Costs must abide by the relevant general accounting principles and participant’s internal rules + comply with sound financial management

• Costs must be identifiable and verifiable in particular being recorded in the accounting records of the beneficiary and determined according to the applicable accounting standards of the country where the beneficiary is established and according to the usual cost-accounting practices of the beneficiary

• Costs claimed during project must actually be incurred

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Ineligible costs (see grant agreement):

• Return on capital• Debt and debt service charges• Provisions for losses or potential future liabilities• Interest owed• Doubtful debts• Exchange losses• VAT, unless the beneficiary can show that he is unable to

recover it• Costs covered by another action receiving a Community

grant• Excessive or reckless expenditure


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• All costs should be budgeted in whole Euros• Round the figures, do not just hide the decimals

• All costs should be budgeted net of value added tax (VAT)

• The proposer may only budget gross amounts (incl. VAT) if he provides a certificate from his tax authority stating he can not recover VAT

Some formal principles in establishing the budget

will ease everybody's life


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Direct costs:

The eligible direct costs for the action are those costs which are identifiable as specific costs directly linked to performance of the action and which can therefore be booked to it direct.

In particular, the following direct costs are eligible:• Direct staff costs assigned to the action• Travel and subsistence allowances for staff taking part

in the action,• Subcontracting costs entailed by other contracts

awarded by the beneficiary for the purposes of carrying out the action

• The purchase cost of equipment (new or second-hand)• Other specific costs, these are costs arising directly

from requirements imposed by the agreement (dissemination of information, specific evaluation of the action, audits, translations, reproduction, etc.)


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Direct staff costs:

• Only technical and specialised staff may be declared• Costs for administrative support staff belong to the indirect

cost category• Identify each category of staff in a clear and unambiguous

mannerExamples of staff categories: project manager, expert, senior expert, junior expert, senior engineer, technician, etc

• The inclusion of freelance ‘staff’ (=inhouse consultants) depends on their contractual terms and conditions of work:

• They work in the premises of the beneficiary using its infrastructure

• They take directions from the beneficiary• The outcome of the work belongs to the beneficiary• Teleworking only if standard working conditions are

applicable to the teleworker


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Staff cost per hour:Only the cost of staff assigned to the action may be declared: comprising actual salaries plus social security charges and other statutory costs included in the remuneration.

Real costs = direct labour costsi.e. wages and salaries plus related obligatory social security charges and other statutory costs (numerator).

The denominator is the average number of productive hours :• Productive hours are the hours worked, whether for a

commercial or project purpose or for internal matters• The EACI will review rate calculations on this basis

The number of hours declared must reflect the work that has been done. The labour rate reflects the economic conditions prevailing forthe beneficiary.Acciona 145 – ACA 145 – Consorzio TRE 143 – Motulab 145 – Pandora 145


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Travel & subsistence costs:

Only for staff taking part in the action (travel costs of subcontractors should be included in the subcontracts)

The travel costs should be based on the beneficiary’s usual practices and reflect the most economical options

Keep track of trips (e.g. keep flight boarding passes)

Check if the amount of trips is reasonable


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Subcontracting: Relates to purchase of services, not of goods!

Subcontracting may only cover the execution of a limited part of the action:

• Limited tasks outsourced by the beneficiary, and for hiring special expertise

• Does not include services ancillary to the main work, e.g. printing of documents, which should be declared under "Other specific costs"

• Subcontractors should be selected on transparent grounds, to the best offer, taking into consideration price and quality (best value for money)

• In a very simplified procedure, three different offers should be obtained and evaluated against common established criteria

• Beneficiaries can not subcontract services or sell equipment to one another or internally (e.g. between departments or affiliates)!

< 35% of total eligible costs, unless justified in Annex I A clear description of the service should be given with the name of

the provider


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Equipment:

The purchase cost of equipment (new or second-hand) must be written off in accordance with the tax and accounting rules applicable to the beneficiary and generally accepted for items of the same kind.

Only the portion of the equipment’s depreciation corresponding to the duration of the action and the rate of actual use for the purposes of the action may be taken into, except where the nature and/or the context of its use justifies different treatment.


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Other specific costs:

These are costs arising directly from requirements imposed by the agreement. Such costs include all the other direct costs that cannot be included under the previous cost categories for direct costs. Examples:

Costs of financial guarantees Costs of certificates on financial statements Printing of dissemination material, subscription fees to

conferences Specific evaluation of the action Travel costs for people who are neither members of staff nor

subcontractors (for instance experts) Translations, reproduction, etc. Specific costs incurred by the coordinator for fulfilling his

responsibilities in his capability of the body responsible for the overall management of the action and the co-ordination of the beneficiaries

!! Electricity & Gas are do not belong to “Other Specific Costs”. They are part of overhead.


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Indirect costs:

The eligible indirect costs for the action are those costs which are not identifiable as specific costs directly linked to performance of the action which can be booked to it direct, but which can be identified and justified by the beneficiaries using their accounting system as having been incurred in connection with the eligible direct costs for the action. They may not include any eligible direct costs.

Indirect costs are eligible for flat-rate funding fixed at 7% of the beneficiaries total eligible direct costs.

Indirect costs need not be supported by accounting documents.


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Non-eligible costs:

• Return on capital• Debt and debt service charges• Provisions for losses or potential future liabilities• Interest owed• Doubtful debts• Exchange losses• VAT, unless the beneficiary can show that he is unable to

recover it;• Costs declared by a beneficiary and covered by another

action or work programme receiving a Community grant• Excessive or reckless expenditure


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VAT issue:

As a general rule - all costs should be declared net of value added tax (VAT)

BUT! - The beneficiary may declare gross amounts (incl. VAT) if he/she provides a certificate from his tax authority stating he can not recover VAT


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Budget transfers:

A beneficiary may, when carrying out the action, adjust the estimated budget by transfers between items of eligible costs, provided that this adjustment of expenditure does not affect the implementation of the action and the transfer between items does not exceed 20% of the total costs of the action.

Beneficiaries may, when carrying out the action, transfer between themselves the estimated budget set out in Annex II, provided that thisadjustment of expenditure does not affect the implementation of the action and the transfer does not exceed 20% of the total eligible costs of the recipient beneficiary and the transfer does not exceed 50% of the total costs of the giving beneficiary.


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Funding rates:

The Agency will contribute a maximum of 916.033 € for the project.

Name Status % EC funding

CETMA Other 50

Consorzio TRE Other 50

Pandora Small 50

Motulab Small 50

Acciona Large 50

ACA Other 50


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Payments:

First pre-financingThe first pre-financing is intended to provide the beneficiaries with a float.The Agency will transfer the First pre-financing to the coordinator within 45 calendar days from the date when the signed agreement and all the mandates are officially received.The first pre-financing is equal to 30% of the maximum EC funding specified in the agreement, i.e. 30% * 916.033 € = 274.809,90€

Second pre-financingThe coordinator may request a second pre-financing payment provided that 100% of the first pre-financing payment has been used up.The amount of the second pre-financing shall be paid to the coordinator upon approval by the Agency of the interim technical implementation report of the action and the interim financial statements.The aggregate amount of the pre-financing payments shall represent 60% of the maximum amount of the grant.

Payment of the balance (the final payment)• Payment of the balance, which may not be repeated, is made after the end of

the action on the basis of the costs actually incurred by the beneficiaries in carrying out the action, and deducting the amount of any pre-financing previously paid to the beneficiary.

• The payment of balance shall be effected on approval by the Agency of the final technical implementation report of the action and the final financial statements.


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Payments (2):

* Provided that 100% of the first pre-financing payment has been used up** Based on the eligible costs actually incurred, and considering the amount of

any pre-financing previously paid to the beneficiary


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Certificate on financial statements:

Each beneficiary for whom the amount of Community funding exceeds 150.000 € shall provide an external audit report on the action’s accounts at the time of the Final payment.No template are available.


20M MEETING - Brindisi 31 January 2013

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Project reports and documents

Practical procedures and deadlines


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Time Sheet:


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Estimated hours:The table below shows the hours spent in the project by each

partner at last check (month 28) and the total foreseen in the contract


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Financial Report: Please use the file of interim report

Please complete with the name, categories, Number of hours and rate



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Please complete with the name of SUB, date, description of the work, amount



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Please complete with the name, destination, date, number of days, purpose and amount



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Please complete with the description of machine, cost, period of use, depreciation and allocation



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Please complete with the supplier, description and amount



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Technical Progress Reports

• Through the CO and in the format provided by the Agency, the Co-beneficiaries shall submit:– 1st technical progress report, covering M1-M10, within

31/05/2012– an interim technical implementation report (and interim

financial statements), covering M1-M20, within 31/03/2013– 2nd technical progress report, covering M21-M28, within

30/11/2013– a final technical implementation report (and final financial

statements), within 60 days from end of project activities, 31/08/2014

MADE

MADE

MADE


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• Please send me the financial report by July 10th

• Please send to CETMA two signed version by August 1st by courier with the proper audit certificate

• Remember to send the copies of the invoices

DeadlinesDeadlines


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Thank you for your attention

Sara Parodi

+39 010 3628148

[email protected]

Date post:	26-Dec-2015
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EcoPlasBrick 36M MEETING - Venezia 19th June 2014 EcoPlasBrick Innovative recycled plastic based...

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