1. Get ready for EC reporting
F2F meeting
Utrecht 09/05/2012

2. SIM4RDM reporting Interim report due 10/12 Final report 10/13
Both blessing and curse
All reporting, including financial reports (form C) – via e-portal
Guidance Notes on Project Reporting
ftp://ftp.cordis.europa.eu/pub/fp7/docs/project_reporting_en.pdf

3. Costs
Direct
“costs which can be attributed directly to the project”
Personnel, travel and subsistence, subcontracting
Indirect
“cannot be identified by the beneficiary as being directly attributed to the project, but can be identified and justified [...] as being incurred in direct relationship with the eligible direct costs”

4. Costing issues Personnel Conversion of other currencies to Euro
Calculation of 'productive hrs', 'hourly rate'
Can only claim hrs recorded in time sheets
Conversion of other currencies to Euro
VAT excluded from eligible costs
Guide to FP7 Financial Issues
ftp://ftp.cordis.europa.eu/pub/fp7/docs/financialguide_en.pdf

5. Time sheets Must include (cf guide p 43):
Name of beneficiary as indicated in grant agreement
Name of employee
Title of project
Project number
Time period concerned
Amount of hours charged to project (all hours claimed must be able to be verified in a reliable manner)
Name and signature of a supervisor

6. Converting to Euro All costs to be reported in Euro
Currency conversion cf exchange rate on the date of actual payment/ purchase
Daily exchange rate fixed by European Central Bank

7. Auditing
“The Commission may, at any time during the implementation of the project and up to five years after the end of the project, arrange for financial audits to be carried out, by external auditors, or by the Commission services themselves including OLAF( European Anti-Fraud Office)”
all original receipts, invoices and other documentation to justify costs charged to the project need to be kept for a period of up to five years after project completion

8. Docs to keep Personnel Consumables Subcontracting
Employment contracts
Certified time sheets
How productive hours were calculated
Consumables
Invoices, proof of payment
Subcontracting
Contracts, invoices, proof of payment
Travel and accommodation
Flight booking and boarding passes
Bus, train tickets, taxi receipts
Hotel receipts
Proof of attendance at events (minutes, attendance list)

9. How are you doing Personnel Consumables Subcontracting
Employment contracts
Certified time sheets
'productive hours' and 'hourly rate'alculated
Consumables
Invoices, proof of payment
Subcontracting
Contracts, invoices, proof of payment
Travel and accommodation
Flight booking and boarding passes
Bus, train tickets, taxi receipts
Hotel receipts
Proof of attendance at events (minutes, attendance list)