1. Overview of Finances T. Charles Yun JIVE/NEXPReS

2. Overview  High level overview of finances  Pre-Financing (long past)  Tranche 1 (recent past)  Trance 2 and 3 (upcoming)  Under spending ramifications  Crystal Ball 2

3. The Basics  3 year (36 month) Project Duration  5,800,000 EUR total  3,500,000 EUR EC Contribution  …and now for the tables… Prior to distributing any funds 3

4. Budget Breakdown # Partner RTD Coord Mgmt Other Tot Req ECContrib 1 JIVE 554,200 426,000 326,700 1,356,400 2,663,300 1,581,240 2 ASTRON 339,044 0 2,500 222,877 564,421 334,390 3 INAF 259,000 0 0 0 259,000 158,250 4 MPG 0 0 0 135,375 135,375 135,375 5 UMAN 126,524 0 0 204,540 331,064 219,113 6 OSO 386,648 0 0 63,360 450,008 287,088 7 VENT 86,025 0 0 0 86,025 52,144 8 FG-IGN 0 0 12,250 0 12,250 0 9 NORDUnet 0 0 0 214,825 214,825 129,145 10 SURFnet 0 0 0 80,000 80,000 0 11 PSNC 354,400 0 0 0 354,400 184,800 12 DANTE 0 0 29,600 29,600 59,200 0 13 AALTO 312,760 0 0 54,000 366,760 229,605 14 TUM 0 0 0 136,520 136,520 109,425 15 CSIRO 0 0 0 79,425 79,425 79,425 Total 2,418,601 426,000 371,050 2,576,922 5,792,573 3,500,000 Budget, from our contract 4

5. Finance Overview Table (1 of 3) # NameReq EC Contrib% total 1 JIVE1,581,24045.1 2 ASTRON334,390 9.5 3 INAF158,250 4.5 4 MPG135,375 3.8 5 UMAN219,113 6.2 6 OSO287,088 8.2 7 VENT52,144 1.4 8 FG-IGN0 0.0 9 NorduNet129,145 3.6 10 SURFnet0 0.0 11 PSNC184,800 5.2 12 DANTE0 0.0 13 AALTO229,605 6.5 14 TUM109,425 3.1 15 CSIRO79,425 2.2 total3,500,000100.0 Initial fund distribution 5

6. Pre-Finincing  1,691,667 EUR pre-financing distributed between the partners in October 2011  As a reminder, the pre-financing distribution was calculated based on percentage of overall EC Contribution requested Initial fund distribution 6

7. Finance Overview Table (2 of 3) # NameReq EC Contrib Pre-fin 1 JIVE1,581,240 764,265 2 ASTRON334,390 161,622 3 INAF158,250 76,488 4 MPG135,375 65,431 5 UMAN219,113 105,905 6 OSO287,088 138,759 7 VENT52,144 25,203 8 FG-IGN0 0 9 NorduNet129,145 62,420 10 SURFnet0 0 11 PSNC184,800 89,320 12 DANTE0 0 13 AALTO229,605 110,976 14 TUM109,425 52,889 15 CSIRO79,425 38,389 total3,500,000 1,691,667 Initial fund distribution 7

8. Tranche 1  After the Period 1 Review, the EC released the first tranche of 1,033,158EUR  The payment was made April 2012 First distribution 8

9. Finance Overview Table (3 of 3) # NameReq EC Contrib Pre-finTranche 1Total 1 JIVE1,581,240 764,265 390,744 1,155,009 2 ASTRON334,390 161,622 172,681 334,303 3 INAF158,250 76,488 81,812 158,300 4 MPG135,375 65,431 22,916 88,347 5 UMAN219,113 105,905 90,633 196,538 6 OSO287,088 138,759 86,311 225,070 7 VENT52,144 25,203 26,991 52,194 8 FG-IGN0 0 0 0 9 NorduNet129,145 62,420 66,306 128,726 10 SURFnet0 0 0 0 11 PSNC184,800 89,320 34,766 124,086 12 DANTE0 0 0 0 13 AALTO229,605 110,976 33,499 144,475 14 TUM109,425 52,889 17,863 70,752 15 CSIRO79,425 38,389 8,636 47,025 total3,500,000 1,691,667 1,033,1582,724,825 Initial fund distribution 9

10. Summary of distributions  Pre-Fin:1,691,667  Tranche 1:1,033,158  Total Distributed:2,724,825  Remaining:775,175 Initial fund distribution 10

11. Period 2  Form C, EoR (formerly JoR)  Get them done early  Send me copies  Know who has to sign the Documents  Audit Certificates  If you need one, plan for it in advance  The P2 Finances will determine most of the final tranche Looking forward… 11

12. Remaining Tranches  I expected the partners to have spent a bit more  We have some evidence of under spending  If you are under spending, let me know IMMEDIATELY Looking forward… 12

13. ASTRON  After the P1 review, I approached ASTRON regarding their under spending. They agreed to release 15,000 EUR of their budget.  As we are next door to one another, I asked the same question to them a few weeks ago and they informed me of continued under spending. They have released an additional 15,000EUR back to the consortium. Under spending 13

14. Proposal for funds  The Board needs to determine how to redistribute the funds that are available now  Proposed Ideas in slides following  Board decision (vote) at end Under spending 14

15. Idea 1: Additional Meetings  Face to Face Meetings  Several WPs could greatly benefit from working meetings  Combine WP meetings at partners site, supporting some travel costs.  Hold two of these meetings between Autumn 2012 and Spring 2013 Under spending 15

16. Idea 1: Cost Summary EUR Description 500 round trip air ticket 200 food/meals 300 hotel (2 nights @ 150 EUR) 0 Meeting space (held at partner facility) 1000 EUR Total per person Provide travel support for 7 individuals over two meetings 14,000 EUR for travel & meetings Under spending 16

17. Idea 2: Additional Distribution  At the end of the project, we will have the final accounting for spending per partner showing under- and overestimates of budget.  The Board can decide to distribute excess among the partners (based on eligible costs) Under spending 17

18. Idea 2: Board can choose…  Now: agreeing to distribute available excess funds equally among partners showing appropriate eligible costs  Later: agree to select among other options as discussed on the Board mailing list Under spending 18

19. Idea 3: Other  Other options can be provided now for discussion immediately or via the board mailing list. Under spending 19

20. Board Vote  Option 1: Travel Support  Option 2a: Redistribute among partners  Option 2b: Wait to see if there are other needs  Option 3: as provided Under spending 20

21. Crystal Ball  Last year, I thought the EC was signaling an eagerness to audit projects  Other projects thought they heard the same undercurrents.  Less confident of this now. But be wary, post-project audits are painful.  All we can do is cross our fingers. Last bit 21