Financial Management MW-Sonet 16 th – 19 th of March 2011, Turkey

MW-Sonet 16th – 19th of March 2011, Turkey Partner Number P0 P1P2P3P4P5P6P7P8 LDV GRANT (EUR) Amount Paid (EUR) , , Remaining payment (EUR) , ,

MW-Sonet 16th – 19th of March 2011, Turkey  2 nd payment (20 % of LDV) will be send within 45 calendar days after receiving second payment from NA after Interim report acceptance.

MW-Sonet 16th – 19th of March 2011, Turkey Partner Number P0P1P2P3P4P5P6P7P8 Amount Paid (EUR) Expenditure (EUR) Expenditure (%) 116%123%78%78%135%220%138%74%74%76%76%152%145%

MW-Sonet 16th – 19th of March 2011, Turkey  3 rd payment (20 % of LDV) will be send within 45 calendar days after Contractors approval of the 3 rd phase monitoring report received from Partner, when all Partner’s tasks and obligations are performed due to that date.  Final payment (the balance of LDV contribution according to the results of the evaluation of the final products and eligible costs) will be send within 45 calendar days after receiving the last payment from NA.

MW-Sonet 16th – 19th of March 2011 Partner NumberTOTAL % breakdown P0P1P2P3P4P5P6P7P8 I. Staff Costs ,41% II. Operating Costs ,36% Travel & Subsistence ,96% Subcontracting costs (up to 30%) ,20% Other ,21% III. Direct costs ,77% IV. Indirect costs (up to 7%) ,23% TOTAL (I + II + III) %

MW-Sonet 16th – 19th of March 2011  34,79 % of total budget is spent for interim report period;  Every single document presented in other language than the working language of project should provide a short description of the content (the reference sum should be highlighted);  Expenses for private car travel (personal or company cars), must be justified with supporting documentation (fuel receipt, explanation why it was chosen this way of travel);  Keep It Short & Simple - round figures up/down, submit travel/subsistence costs per person/per trip;

MW-Sonet 16th – 19th of March 2011  In the financial report form fill in 1 line for the same person with the same role in the project;  It is always better to have documents sent in earlier and to be able to update the information and expenses declarations to have most of eligible expenses after Interim and Final reporting;  Before sending document by post ALWAYS first send scanned copies by ;  Check, Check & Check Again - when submitting financial reports, check the relation between ALL tables - inconsistencies here are common (use the selfcalculating EXCEL Tables where possible).

MW-Sonet 16th – 19th of March 2011  3 rd phase monitoring report – each partner shall provide all information and documents for the period from to (original documents (where appropriate), especially accounting and tax records or certified copies of original documents). All the necessary supporting documents completed and signed by the legal representative shall be send by 15 th of April  Final report – all documentation for the whole project implementation period from to shall be provided by 15 th of October 2011.

MW-Sonet 16th – 19th of March 2011  All amounts given in the project reports must be expressed in Euro.  Where Euro account is held, the Contractor and Partners must report expenditure at the amount(s) debited in Euro from their account.

MW-Sonet 16th – 19th of March 2011  Where accounts are held in national currency, then the Contractor and Partners should normally use the following model: For all costs incurred, whatever the source of the funds used (i.e. Community funding, own funds, local/regional/national funds), the Contractor must use the exchange rate applied by the bank to convert the pre-financing payment into national currency.

MW-Sonet 16th – 19th of March 2011  VAT declaration – P2, P4, P6, P7, P8  Bulgarian partners – original document of request for 1 st payment

MW-Sonet 16th – 19th of March 2011 The following specific Community rules with regard to procurement apply:  Contracts with a value below EUR can be paid simply on presentation of an invoice.  Contracts with a value between EUR and EUR are subject to a procedure involving at least three tenderers.

MW-Sonet 16th – 19th of March 2011  Other costs can be paid simply on presentation of an invoice.  Indirect costs need not be justified by accounting documents.  Indirect costs shall not be eligible under a project grant awarded to a beneficiary who already receives an operating grant from the Commission during the period in question.

MW-Sonet 16th – 19th of March 2011  Budget changes between all Direct costs are allowed (respecting the maximum ceilings of 10% for ICT and 30% for sub-contracting)  Proposed changes to budget must be fully justified and follow the project Work Programme and project aims  All requests for budget changes have to be signed by legal representative of Partner’s institutions

MW-Sonet 16th – 19th of March 2011 Budget in Agreement (euro) % Proposed budget (euro) % Change Euro % A. Direct costs ,00100% ,00100%0,000,00% 1. Staff ,0062,47% ,2062,51%91,200,05% 2. Travel & subsistence ,0011,99%33.081,8012,35%964,803,00% 3. Equipment (up to 10%) 0,00 4. Subcontracting (up to 30%) ,0016,51%42.482,0015,86%-1.741,00-3,94% 5. Other ,009,03% ,00 9,29% 685,002,83% B. Indirect costs (up to 7%of A)18.120,006,34% ,00 6,34% 0,000,00% TOTAL (A+B) ,00 100% ,00 100% 0,00 0,00%

MW-Sonet 16th – 19th of March 2011  All partners are expected to agree on the ownership of Intellectual Property Rights during project lifetime  This Agreement sets out legal provisions on Intellectual Property, derived from this project, management of these rights, as well as obligations and liabilities for the Project Contractor and the Project Partners.

MW-Sonet 16th – 19th of March P0 (UOA) P1 (BETI) P2 (BG) 2 P3 (DK) P4 (GR) P5 (HU) 3 P6 (IS) P7 (LT) P8 (TR)

MW-Sonet 16th – 19th of March 2011 Receive by rd phase of signing nd phase of signing Starts signing procedure P0 P2 (BG) P1 (BETI) P0P3 (DK)P4 (GR)P5 (HU)P0P6 (IS)P8 (TR)P7 (LT)P0

MW-Sonet 16 th – 19 th of March 2011, Turkey