TANGO Project Finances Presentation by James Allman Research Accounting Manager, Keele University Co-Ordinator of TANGO Project TANGO Mid -Term Review Meeting, Keele University, 18th/19th September 2014

Kick off meeting presentation 21st November 2012 Finance rules explained An opportunity for finance contacts at Keele to meet project partners (and vice-versa) Opportunity to ask finance questions (also at Munich meeting in June 2013) Exchanged finance contacts

Distribution of Project Funding 3rd year of funding will be paid on receipt of satisfactory Form C online. 3rd year payment will make total received by partners up to 60% of revised budget based on actual recruitment Once interim payment received by Keele, a further payment will be made to the partners, taking total received up to an estimated 85% of budget.

Form C Financial Reports (Period 1) Expenditure / flat rates to 31st October 2014 Keele will check Form Cs in line with flat rates and recruitment (see next slide) Form Cs to be submitted to Keele by 21st November 2014 (due to Christmas) Only Keele should have spend over €375k at the end of Period 1, requiring a CFS All Financial Statements are subject to a possible random EU audit. Form C not required from Associated Partners (claim funds via Keele’s budget)

Form C Checks Living & Mobility allowance (salary) - Cost Categories 1 & 2 Will check flat rates x country co-efficient x person months Any variances will need to be explained (e.g. exchange rates) Research, training and networking - Cost Category 3 Will check flat rates x person months Management - Cost Category 4 Actual cost category – record further details in ‘pop-up’ box in Form C on EU Participant Portal Overheads - Cost Category 5 Will check that it is 10% of above costs

Form C Checks In Form C pop up box, recommend that you put fellow name, no. of person months x monthly allowance In Work Package enter relevant number from B.4.1. Workplan from Annex 1 of the Grant Agreement

EC Participant Portal Used for submission of Financial Reports and Declarations of Conformity Ensure that appropriate persons within your institution are registered to the TANGO project, including the person responsible for the project finances and the project financial signatory. http://ec.europa.eu/research/participants/portal/page/home New users will need to register an account. No signed paper Form Cs will be required. 9am Tomorrow – James will give a demonstration of the Participant Portal

Keele Expenditure to 31st August (Bar Chart)

Financial Contacts at Keele Research Accounting Manager: James Allman E-mail: j.r.allman@keele.ac.uk Tel: 00441782734389 Research Accounting Assistant: Anne Budgen E-mail: a.v.budgen@keele.ac.uk Tel: 00441782734328

Any Questions?

Cost Categories 1 & 2, Living & Mobility Allowances Includes: Entire salary cost of fellow, including supplementary costs such as national insurance and pension contributions. Full allowance must be used, with the cost of the fellow equalling the exact budgeted total allowance What records to keep for EU audit purposes? -Evidence of the eligibility of the fellow -Employment contract/agreement with the fellow -Proof of payment of the salary to the fellow and of the deductions for social security etc. -Evidence that the fellow worked on the project: this can include lab books, conference abstracts, library records, etc. (note timesheets not required, but it is a good idea to keep them)

Cost Category 4, Management Activities Includes: Travel and subsistence costs of project leaders to TANGO management meetings If allocated in budget, a contribution towards an individuals salary for time spent on project management What records to keep for EU audit purposes? This is a real cost category therefore you need to keep full evidence: - All receipts of expenditure Full timesheets for personnel costs (example timesheets can be provided) Note – VAT and similar taxes are an ineligible cost

Associated Partners & Visiting Senior Researchers How are the costs of Associated Partners reimbursed? The costs of the Associated Partners can be reimbursed through the coordinator, Keele University. Expenses for individuals should be claimed via a Non-Staff Expense Form: http://www.keele.ac.uk/media/keeleuniversity/fait/finance/accountspayable/Non%20Staff%20Exps%20TRAV%20C2.pdf Expense claims should adhere to Keele’s Travel Procedures http://www.keele.ac.uk/media/keeleuniversity/fait/finance/accountspayable/travel%20procedures%20%20201112%20mar.pdf