Contracts Finances Marit Hogendoorn Metten Somers

Contracts & Finances Marit Hogendoorn Metten Somers

CONTENTS OF THE PRESENTATION • • Grant Agreement Consortium Agreement Third Parties & Subcontractors Finances Pre-financing Reporting Where to get information

Grant Agreement • We have received the signed GA • The starting date is set at 01 -02 -2010 • The GA has come into effect at 26 -03 -2010 • All partners need to sign accession form (between Partner and UMC Utrecht) • The EU requires to receive this before 10 -05 -2010

Grant Agreement • We will send out the required documents (The signed GA, the currently approved Description of Work (annex I) and all other annexes to all partners after this weekend • Each partner signs three copies of the accession document (1 for own administration, 1 for UMC, 1 for EU) • We collect all signed forms and ensure timely delivery in Brussels

Consortium agreement: Purpose To regulate critical aspects of project governance not covered by the grant agreement between the Commission and the project consortium.

Consortium agreement: Key aspects • the internal organisation of the consortium • the distribution of the Community financial contribution • management of intellectual property and access rights to results • liability and confidentiality arrangements between partners

Distribution of the Community financial contribution • 7. 3. 2 • The payment schedule, which contains the transfer of pre-financing and interim payments to Parties, will be handled according to the following in conformity with the decisions of the General Assembly and any related decisions of a Sub Project Committee: • In the first year, the initial pre-financing by the European Union (EUR 2, 423, 997) will be distributed to the partners, proportional to the expected investments of the individual partners during the course of the project. Expected investments are reflected in the current distribution of budgets.

Distribution of the Community financial contribution • Interim payments will be made proportional to performance in the project. Performance will be rated according to an algorithm that will be based on the number of subjects that have been included, participation of these subjects in the different Workpackages, completeness of the scheduled visits and investigations (e. g. MRI, interviews, collection of bloodsamples and MRS) and progression towards completion of each Workpackage a subject has enrolled in. • A detailed description of the payment algorithm will be provided in a next version of the Consortium Agreement.

Consortium Agreement: To do • We have sent out a concept version • All partners: please read this document thoroughly and inform us a. s. a. p. of necessary changes as well as agreement with the text • Final version: requires agreement and signing by ALL partners • Pre-financing can only be distributed AFTER signing by ALL partners

OPTi. Mi. SE ≠ EUFEST

Third Parties • Example: having other sites perform work for yourself, as was common in EUFEST, is restricted in OPTi. Mi. SE • EU/FP 7 Regulations

Third Parties • Involvement of Third Parties that carry out part of the work requires approval by the EU • Failing to organise this appropriately will cause major problems with payments later on

Third Parties Requirements: • relationship between Partner and Third Party is broad and not specifically created for the work in OPTi. Mi. SE: its duration should pre-date and outlast the project. • formal external recognition of this relationship (for example: the existence of joint research units or an official affiliation in terms of employment).

Third Parties need to be described in Do. W: • Official Name • Relationship with Partner • Contents of work to be carried out • Allocation of budget • We aim to add all Third Parties in the next Do. W • Please send us the required information a. s. a. p.

Subcontracting • Also requires approval by the EU • Subcontractors have a commercial interest • The contract between a partner and a subcontractor is set up accordingly • A Subcontractor can not perform CORE PARTS of the scheduled work (for most partners: all patient-related activities in the Do. W)

Basic Rules on Financing • Each partner responsible for own cost (reporting) • Individual budget is maximum possible amount to be reimbursed • Actual reimbursement depends on actual eligible costs and deliverables • All charges must appear in organisation’s general ledger with supporting documents • Communicate any (minor) budget transfers

Non eligible direct costs • VAT • Communication and connection costs (computers, laptops) • Any expense which is reimbursed by another source/3 rd party • Any expense that is considered indirect in your normal accounting practices, e. g. overheads

Reimbursement of MRI costs • • EU: problem with reimbursement of ‘fixed costs’/ consumables Most partners have ‘fixed costs’ in MRI budget Solution: transfer to ‘Personnel Costs’ To do: Check with own Financial Officer If necessary: re-allocate internal budget distribution Inform us of any changes We handle changes with EU (e. g. new A 3 form)

Pre-financing Optimise 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 17 18 19 UMCU KCL INSERM UNIMAN CIMH TUM-KRI RHP SERMAS IMU K. U. Leuven Sheba MCRF PUMS ZU LMU SUN HMGU TGD CUNI TOTAL Netherlands UK France UK Germany Denmark Spain Austria Belgium Israel Poland Switzerland Germany Italy Germany Romania Czech Republic € € € € € 601. 756 375. 354 207. 892 97. 840 305. 046 89. 897 141. 522 115. 236 46. 008 46. 197 44. 705 30. 875 49. 578 57. 421 47. 757 46. 194 91. 354 29. 365 2. 423. 997

Reporting • Respect reporting deadlines after each period • Certificate on Financial Statements: report on factual findings (form D) • Risk of EU audit: be prepared! • Registration of hours (per workpackage)

EXAMPLE TIME SHEET

Available on Cordis Website • Guide to Financial Issues • Guide for Beneficiaries • Guidance Notes on Project Reporting • Guidance Notes on Certificates issued by External Auditors And also: your National Contact Points