1. IARS FINANCIAL PRESENTATION FOR
EUROPEAN COMMISSION PROJECT ERASMUS + Abused No More
Duration:1st September 2015 to 31st August 2018
Prepared by Louise Joseph
Presented by Theo Gavrielides October Bucharest

2. Financial Requirements
Sign the Partnership agreements
Please read carefully
Budget – please read approved application form (circulated)
Monitoring & Reporting
Evidence – originals and electronic copies

3. Budget – General Headings
Project Management and Implementation;
Transnational Project Meetings;
Intellectual Outputs
Multiplier Events
Travel, Individual Support and Linguistic Support for Transnational Learning, Teaching and Training Activities
Special Needs Support (if applicable); and
Exceptional Costs

4. Budget – General Principles
As per Article I.3.2, the budget headings can be increased up to a maximum of 20% of the amounts awarded to each
Projects can transfer up to 20% of the funds allocated from any of the above budget headings. However, Project Management and Implementation and Exceptional Costs can not be increased under any circumstances.
Requests need to be put in writing before the event, cannot be made in retrospect.
Project Management & Implementation is a very generic term and can include: meetings, administration costs and some overheads.

5. Monitoring & Reporting
Progress – Interim – Final Reports
Financial Reports – 1st submission date: Interim Report by 07/06/16 showing 70% spent and all evidence up to 01/06/15. Very short turnaround for IARS as coordinators and partners.
You must set up an appropriate accounting system which identifies all sources of funding and expenditure relating to the project incurred during the contract period.
Need as much detail as possible on the reports – see templates
Responsibility with each partner to complete this on time and with all the details needed.
EC will reject claims that do not meet the reporting requirements. Not IARS decision we can only submit the information partners provide onto the Mobility Tool online grant management tool. (eventually on VALOR)

6. Evidence
Evidence Required – not all evidence of expenditure will be required but it is advised to keep all financial records and supporting documents relating to the project.
Examples of financial records and supporting documents that should be retained include:
As per Article II.1.3, bank transfer documents showing payments have been made to partners. This should be official documents from your bank, not internal requests for payment, showing the date and amount transferred and clearly stating the partner’s organisation name;
Travel tickets and boarding passes for journeys charged to the project;
Summary of organisations’ subsistence, depreciation and VAT policies
You will need to prove that activities actually took place.
Keep original documents for 5 years after the dates of the final payment as they can be requested anytime up to then.
Time sheets, template available – to be signed by legal Rep