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28/11/2011 - 2 Day Financial Workshop in Vienna, Austria.

The Finance Helpdesk will be holding an open 2 day FP7 Financial Workshop on 28 & 29 November 2011, in Vienna, Austria.


The workshop will be aimed at project managers, as well as finance and administrative staff. It is particularly relevant to anyone who wants to understand the FP7 Financial Rules and how to report correctly as applied to the Cooperation Theme.





FP7 Introduction

· Free FP7 Book

· What is a Framework Program?

· Framework Program Budgets

· Workflow

· Project Phases

· Funding Schemes

· Different Implementations

· Brussels' Language


FP7 and Eligibility

· Terminology changes

· Major Changes summary

· Eligibility for Funding


FP7 Participation

· Sub Contractors Major and Minor

· Third parties

· Small & Medium sized Enterprises (SMEs)

· SME Independence


FP7 Grant Agreement

· Different Annexes explained


When do we get money?

· Pre-financing

· Distribution (Consortium Agreement)

· Guarantee Mechanism

· Financial Viability

· Funding Rates


Forms of grants / Activities

· Eligible Costs

· Flat rates

· Lump-sum financing

· Different Activity Rates


Personnel Costs

· Man Month Rates

· Personnel Costs calculation

· In-house consultants

· Timesheets

· Timesheets for Academics

· Example of Productive Hours

· Hourly Personnel Rate

· Employment and Personnel Issues

· Students

· Overtime

· Average Personnel Costs



· Major change in FP7

· Accounting Records

· Books of Account

· Dual currency accounting

· Cost Recording



· How to budget correctly at the proposal stage

· Budgeting issues

· Budgeting Spreadsheet (tool)


Electronic Proposal Submission system (EPSS)

· EPSS Setup

· EPSS Walkthrough

· EPSS forms

· EPSS Submittal


Unique Registration Facility (URF)

· Unique Registration Facility (URF)

· Legal Entity Appointed Representative (LEAR)

· Participant Portal




Receipts to the project

· What is a receipt?

· Types of receipts

· Interest earned


Eligible & Ineligible costs

· Eligible Direct Costs

· Ineligible costs


· Taxes



· Types of Costs

· Indirect v direct costs

· Notional funding

· FP7 Overhead Options

· FP7 Impact Summary


Financial Reporting

· FP7 Interim reporting

· FP7 Final reporting

· Project progress report

· Financial Contribution

· Timing and approval of financial reports

· FP7 Form C


· Online reporting Walkthrough

· CSAs Reporting


Certificate on Financial Statement

· When are CFSs required?

· Agreed Upon Procedure

· Terms of Reference

· Auditor's instructions

· Certificate on the Methodology

· Appointing an Auditor

· Conflict of interest in appointing auditor

· Using a CPO as auditor

· Certification in FP7


EU Audits / Liquidated Damages

· EU Audits

· Follow up Liquidated damages

· How to avoid Liquidated damages.

· Consequences and Extra Penalties

· What to do if things go wrong?


The Role of the Coordinator

· Coordinator's responsibilities



· Latest news

· Horizon2020 Structure

· Horizon2020 Funding schemes

· Horizon2020 Funding rates

· Horizon2020 Overheads

· Impact of Horizon2020 changes


Financial secrets

· At the proposal stage

· At the negotiation stage

· For the Consortium Agreement

· During the project

· How to ensure you get your money.


Places are limited and will be allocated on a first register – first serve basis.

Cost to attend is 995€ and includes Workshop handouts, coffee and lunch.


To register, please download the registration form and send completed form by Email here, or fax to: +972 89327362

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