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The Financial managing of PIC INTERREG III B Alpine space

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Title: The Financial managing of PIC INTERREG III B Alpine space


1
  • The Financial managing of PIC INTERREG III B
    Alpine space
  • Pusemor Project
  • Giovanni Colucci January 28, 2005

2
Financial Flow
  • Demand for expenses refundment
  • Refundment
  • Expenses certification

3
Financial flow

4
Financial flow

5
Demand for expenses refundment
  • 1. Presentation of the demand
  • Each partner sends (Lead Partner included) all
    the documentation (copy in compliance with the
    original) of the expenses done.
  • 2. Certification
  • The National Certificator verifies expenses
    validity and signs the certification saving a
    copy of the accounting documentation.Then he
    sends copy of accounting doc.,with the
    certification, to the partner in order to make
    him send it to the Lead Partner.

6
Demand for expenses refundment
  • 3. Presentation to the Lead Partner
  • Partner send to Lead Partner the doc related to
    accounting and certification according to the
    times of the partnership agreement.
  • 4. Coherence check
  • Lead Partner checks coherence of the expenses
    certified by Partners according to Application
    Form. Consolidates requests for payment and send
    them to the Managing Authority for the FESR
    activation.Requests must be presented by the Lead
    Partner to the Managing Authority according to
    the Subsidy Conctract.

7
Refundment
1. Request for payment issue Managing Authority
approves requests for payment and send them to
the Payment Authority of the Program. Payment
Au. Transfers FESR funds directly to Lead
Partner. 2. Refundment of FESR fund to the
Partners Following the receiving of the total
FESR financing,Lead Partner sends to the Italian
Ministry of Finance (IGRUE) the others italian
national partners funds, notifying the M.of
Finance and the national payment Authority about
the national partners and the percentage to
credit. M.of Finance credits the requested
cofinancing on the single partner account.
8
Refundment
3. Refundment of national fund to Partners Once
received information by the Lead Partner about
the financing credit by UE and the other project
partner funds, The National Payment Authority
demands for national cofinancing payment to
Italian Ministry of Finance. 4.
Refundment Following the check of the
availability of UE financial resources on the
Fondo di Rotazione - Italian Ministry of Finance,
M.of Finance distributes FESR funds to project
Partner (on the C/A current account mentioned in
the application - every change must be
communicate to Technical Secretariat and to the
Managing Authority).
9
Expenses certification
  • 1. Repayment request
  • Project partner sends accounting kit with the
    receipts to the National Coordinator that he
    sends to the I st level certificator.
  • 2. Control hearing
  • Certificator does Ist level control in the 30
    days following the date of receiving.
  • 3. Certicate emission
  • In case of positive result,certificator send the
    total expenses certification.

10
Expenses certification
  • 4.Request for integration Emission /
    Certification
  • In case of negative or partial result,certificator
    suspends irregular expenses and send out a
    partial certification. Any irregularity or
    mistake will be communicated to the Project
    partner by a request for integration. Partner
    will sends the documents asked. Once the
    suspended expenses, will have regular documents,
    they will have a separate accountig (see
    procedure nr.1).Account presented following
    request for integration will be check within 21
    days after receiving.
  • Expenses whose irregularity has still to be put
    right will be cancelled after 90 days from the
    first request for integration.
  • At the end of that process certificator will send
    certification judgment (total or partial
    certification) to the partner.

11
Preliminary statement
  • These slides concern accounting expenses
    Procedures fixed by the Italian national
    certificator for italian partners.
  • For not italian project partners they will have
    to consider procedures fixed by their own
    certificators.
  • Procedures may change in each state but expenses
    admissibility rules are the same for all the UE
    States because fixed by Regulation (CE) 448/2004.

12
Principle Regulations
  •  
  • The principle UE regulations for structural
    funds management are
  • Regulaton (CE) nr. 1260/1999,_ general
    disposition on structural funds
  • Regulaton (CE) nr. 438/2001 modified by
    Regulation (CE) nr. 2355/2002_ that modifies
    applying rules of Regulament (CE) nr.1260/1999 _
    systems of managing and control of the given
    contributions in the structural funds ambit
  • Regulation (CE) nr. 448/2001_ application rules
    of Regulation (CE) nr. 1260/1999 for financial
    changes of the given contributions in the
    structural funds ambit
  • Regulation (CE) nr. 1685/2000 modified by
    Regulation (CE) nr. 448/2004_ admissibility rules
    to cofinancing
  • Euratom Regulation nr. 2185/1996_ Commission
    Control and checks against fraud and
    irregularity
  • Euratom Regulation nr. 2988/1995_ UE financial
    interests protection
  • Regulation (CE) nr. 1681/1994_ Irregularity and
    money recovery
  • Regulation (CE nr. 1159/2000_ Informative actions
    on structural funds
  • Decision (CE) nr. 4017 del 19/12/2001_ Approval
    of PIC Interreg III B 2000-2006 ALPINE SPACE.
  • Commission comunication nr. 226-02, 02/09/2004

13
General rules of admissible expenses
  • The admissibility criteria of expenses during
    projects that have been admitted to the PIC
    Interreg III B financing, are based on the
    general management and control laws of structural
    funds, as well as on specific laws and
    regulations of that program.

14
Elegibility of the program
  • According to art. 30, clause 2, of Regulation
    nr. 1260/99, the initial date of the
    admissibility expense is the receiving date of
    the intervention request from the European
    Commission. As far as Interreg III B, 2000-2006
    ALPINE SPACE, is concerned, this date is December
    21, 2000 untill December 31, 2008.

15
Elegibility of the project
  • From a project point of view the initial date of
    the admissibility of the expense is the one that
    (as defined in the general conditions of the
    contract between the Managing Authority and the
    Lead Partner -Federal Office for Spatial
    Development of Switzerland FOSD-CH-Bundesamt für
    Raumentwicklung ARE / EDRF Lead partner Regione
    Lombardia, Direzione Generale dellIndustria,
    Piccole e Medie Imprese, Cooperazione, Turismo)
    of the project coincides with the date of the
    beginning of the project shown in the application
    form approved by the Steering Committee that in
    our project is January 1, 2005 while the
    predicted end is June 30, 2007.

16
The assessed financial Plan
  • These below are the Interreg III B Alpine
    space financial plan expenses items
  • Staff (Costi di personale)
  • External expert and consultants (Esperti esterni
    e consulenti)
  • Travel and accomodation (Spese di viaggio e
    soggiorno)
  • Conferences and seminars (Conferenze e seminari)
  • Infrastructure investment (Infrastrutture e
    Investimenti)
  • Office equipment (beni durevoli)
  • General expenses (Spese generali)
  • Other costs (Altri Costi)

17
Personnel
  • Personnel expense can include
  • a) Direct personnel expense for personnel
    directly attributed to the project
  • v Long term(with no time limit) hired workers
    (According to what is defined in the Regulation
    nr. 448/2004
  • v Short term (with time limit) hired workers
  • v Workers hired with a Project collaboration
    contract.
  • b) Indirectpersonnel expense for personnel not
    directly attributed to the project (for example
    secretaries,operators,etc.).

18
Methodological aspects of accounting
  • In order to define cost of personnel we have to
    consider the yearly payment of the workers.
  • In particular, the accountable amount is
  • ((RALDIFOS)/(h/lavorabili))(h/uomo)
  • RAL yearly gross payment (not other compensation
    fixed in CCNL)
  • DIF postponed payment (TFR e 14ma)
  • OS social and fiscal burden
  • h/lavorabili yearly working hours
  • h/uomo working hours dedicated to the project.

19
Expenses receipts
  • Expenses receipts can be
  • Personnel list related to the project. In the
    list must be indicated the qualify, job
    function, percentage of imputation to the
    project,the name of the worker.It occurs also
    indicate separately the total remuneration (
    including social costs ) and the eleggible costs
    in the project (D.P.R 445/2000)
  • Internal service order or assignement letter that
    shows the role in the project and the foreseen
    working days/hoursthat document must be done
    before the beginning of the service (D.P.R
    445/2000)
  • Payment receipt (cedolino paga) with the stamp
    Expense done according to PIC Interreg III B
    ALPINE SPACE, project . n..amount of
    ..accounting date
  • Payment receipts of social and fiscal costs
  • Debit note with the stamp Expense done according
    to PIC Interreg III B ALPINE SPACE, project
    . n..amount of ..accounting date
  • Montly Time Sheet , signed by the legal agent
    or by the administrative manager, with name,
    qualification, days and/or working hours on the
    project,project code,month,sign of the worker.

20
Receipts
  • Expense payment receipts can be
  • The F24 model with the deposit of the deduction
    and the contribution(tax)
  • Bank cheque not to order or circular note in wich
    can be clearly read the amount and the name of
    the person who was made out to(with the related
    bank statement)
  • Journal with the cash payments not exceeding to
    250
  • Payment order (receipted by the bank)
  • Bank statement (that shows the deposit of money
    transfer and cheque)

21
External expert and consultants
  • These expenses are referred to not continous
    working performances, professional performances,
    cheque for grant and/or research and auditing
    activities related to the project.
  • Perfomances can be web-designer work, studies,
    reporters for seminars and/or convetions, other
    performances.
  • In this case the cost that can be attribute to
    the project is determined,for professional and
    not continous performer, by the rate
    pre-defined for similar activities by
    professional register (anyway generally not
    exeeding euro 1.300 per day).
  • On the contrary, in the case of grant, the cost
    is determined by the amount defined in the
    contract and according to internal regulations
    and to the related laws.
  • In order to certify the expense, public partner
    must produces documentation that shows the
    respect of the public procedure followed in order
    to assign the task.

22
Receipts
  • Expenses receipts for instance can be
  • Contract signed for acceptance in which there is
    the kind of performance/activity done,its
    length,remuneration,its quota to the project
  • Invoice or debit nore or note of fees
  • Documents with the deposit of the social charges
    and taxes
  • Payment receipts can be
  • Payment order (receipted by the bank)
  • Order for payment
  • Bank cheque not to order or circular note in wich
    can be clearly read the amount and the name of
    the person who was made out to
  • Journal with cash payments not exeeding to
    250.
  • Bank statement with bank transfers (even
    cumulatives) that indicate the deposit done
  • All the originals of the expenses receipts must
    have the stamp Expense done according to PIC
    Interreg III B ALPINE SPACE, project PUSEMOR
    n..amount of ..accounting date

23
Travel and accomodation
  • All the expenses made for meetings, seminars,
    convention and other activities related to the
    project.
  • Transport  going and return from the meeting
    place, visa, airport fees, travelling and
    meeting expenses
  • Board and lodging hotel, food or bonus for food,
    mission allowance.
  • The above mentioned expenses regarding internal
    workers can be accounted according to the CCNL
    contract or company contract or to regulations/
    internal circulars at the Government
    Beneficiaries.
  • All the receipts must be submitted in double copy
    in compliance with the original. Even the
    professional that has already invoice that
    expenses must submit the receipts in double copy.
  • Flat (forfait) expenses are not admissible.

24
Receipts
  • Expenses receipts can be
  • v Transfer documentation (e.g. transfer
    authorization) with transfer description
    including, name of the person, the date, reason
    and the place of it
  • v Flight ticket (the holder must be the person
    authorized for the transfer)
  • v Railway ticket stamped with the date of
    departure
  • v Higway toll receipts
  • v Renting car invoice
  • v Own vehicle a travel prospectus e with daily
    kilometers (going and return), total amount of
    kilometers and the due repayment,with receipted
    document and with the own veichle using
    authorization.The repayment of the use will be
    the 1/5 of the average cost of one liter of
    gasoline for each done Km according to ACI
    (Italian Cars Association) table or Governamental
    table (Ministeriali).For rented veichle (Maximum
    class C or equivalent) or taxi the determination
    of the value will be done on the real cost,making
    comparison with other transportation
  • v Board and lodging invoice
  • v Receipted payment of the transfer repayment
  • v Repayment transfer request of the worker with
    double copy in compliance with the original of
    the single expense payment documents.
  • v Invoice o debit note with travelling expenses
    and sinhgle transfers with copy in compliance
    with the original of the receipts
    (receipts,tickets).
  • All the originals of the expenses receipts must
    have the stamp
  • Expense done according to PIC Interreg III B
    ALPINE SPACE, project PUSEMOR n..amount of
    ..accounting date

25
Receipts
  • Payment receipts can be
  • Detailed ticket (e.g.checks, bills) with specific
    indication of the purchases done
  • Payment order (receipted by the bank)
  • Bank statement with bank transfer to the
    supplier
  • Bank cheque not to order made out to the supplier
    or to the authorized person
  • Circular note made out to the supplier or the
    authorized person
  • Journal with cash payments (max 250).

26
Conferences and seminars
  • All the expenses done for conventions and
    seminars and the related board and lodging of
    people and reporters
  • In detail these expenses can be
  • v Catering
  • v Relators transport and board and lodging
  • v Translations
  • v Room renting and equipment, Interpreters.

27
Receipts
  • Required expenses receipts
  • Flight ticket made out to the attendee
  • Railway ticket stamped with the date of
    departure
  • Board and lodging invoice
  • Invoice for KM repayment in case of own car with
    the authorization of the person responsible for
    the project(max class C)
  • All the originals of the expenses receipts must
    have the stamp Expense done according to PIC
    Interreg III B ALPINE SPACE, project PUSEMOR
    n..amount of ..accounting date  
  • Required expenses receipts
  • v   Expenses receipts
  • v Payment order (receipted by the bank)
  • v Bank statement with bank transfer to the
    supplier
  • v Bank cheque not to order made out to the
    supplier or to the authorized person
  • v Circular note made out to the supplier or to
    the authorized person
  • v Journal with cash payments (max 250).

28
Infrastructure investment
  • Durable are all he things purchased for goals
    related to project.(in inventory journal or in
    depreciation because can be used for more than
    one year).
  • Cost of them (nr. 1 Really done expenses of
    Regulation CE 448/2004) is equal to the cost of
    depreciation on condition that there is
    connection with the goals,not purchased with
    other financing,cost of depreciation is
    calculated according to fiscal rules.
  • Second hand properties is elegible on condition
    that there are(Reg.CE 448/2004)
  • Seller Declaration(origin/not other financing in
    the last 7 years).
  • b) That cost must not be exeeding his market
    value and not exceeding the new.
  • c) Technical qualities must be adequate to the
    goals and rules.
  • 1 Article nr. 1 Really done expenses
    Regulation (CE) nr 448/2004

29
Receipts
  • Expenses receipts can be
  • v Public tender documentation.
  • v Record of public tender
  • v Contract/agreement with the winner(with details
    of all costs)
  • Winner must account all costs.
  • v Detailed report of the company who give the
    contract to the contractor
  • v Invoice of the property purchase
  • v Leasing or renting invoice
  • v Purchasing note
  • All the originals of the expenses receipts must
    have the stamp Expense done according to PIC
    Interreg III B ALPINE SPACE, project PUSEMOR
    n..amount of ..accounting date  

30
Receipts
  • Payment receipts can be
  • payment order receipted
  • Order for payment
  • Bank cheque not to order made out to the winner
    with copy of the bank statement
  • Circular note made out to the winner

31
Office Equipment
  • Expenses for purchasing of durable properties
    (equipment)
  • Durable are all the properties that produce
    more times, that can be written in the inventory
    or depreciation journal.
  • Equipment is admissible if it is the most
    advantageous
  • Admissible are also the quotes of depreciation.
  • Project partner must prove in the Administrative
    and Technical Report that he respected the most
    advantageous rule.
  • In case of Leasing or renting must be respected
    all the public tender procedures.

32
Receipts
  • Expenses receipts are
  • Invoice of the purchase
  • leasing or renting Invoice / receipt
  • Delivery Note
  • All the originals of the expenses receipts must
    have the stamp
  • Expense done according to PIC Interreg III B
    ALPINE SPACE, project PUSEMOR n..amount of
    ..accounting date  
  • Payment receipts are
  • Circular note or cheque not to order with the
    amount and the name of the person who has made
    out for with the bank statement
  • Bank statement that shows the real payment of
    the bank cheques and transfer
  • Partner journal with cash payments(max 250 Euro)
  • Payment order receipted by the bank.

33
General expenses
  • purchase expenses for consumable goods
  • Properties with a life lt one year
  • About these goods must be indicated in details
    the attribuition to the project.
  • general direct expenses_ for example are
  • travel insurance expenses
  • expenses for grant or research bank cheque
  • expenses for education of the people that work in
    the project
  • printing expenses
  • feightage and packaging expenses
  • expenses for specific dedicated telephone
    lines.
  • That expenses must be done only for project
    activity( for each event must be
    indicatedgoals,partecipants,lasting,localization,
    languages translated)That information must be
    written in the administrative and technical
    report.

34
General expenses
  • General indirect expenses_ expenses that have
    to be attributed pro quota to the activities of
    the project
  • renting expenses for real property
  • ordinary maintenance expenses
  • stationery expenses
  • mail expenses
  • general services expenses

35
General expenses
  • Attribuition criteriaof the direct expenses must
    be ruled by the principle of cost accounting. In
    particuolar, in order to determine the quote part
    of indirect expenses to attribuite to the project
    will be use this rule
  • hL / hT
  • hL hours worked dedicated to project(they are
    equal to accounted hours in Staff for direct
    personnel, and General expenses for direct
    personnel).
  • hT total conpany hours.They are nr.7 of
    dependent personnel and/or similar multiplied by
    coefficient standard coefficient of 17608 hours.
  • That coefficient of indirect cost apportionement
    has to be multiplied by singles invoice amount of
    the indirect expenses, in order to determine the
    amount of indirect expenses on wich the
    rembursement in directed.
  • If the total amount of indirect general expenses
    is less than the expenses admissed in budget,
    the difference can be used and accounted for the
    direct general expenses and for purchasing of
    consumable goods.

36
Receipts
  • Expenses receipts
  • Invoice of the purchase of the property
  • debit note of the purchase of the property
  • telephone bill.
  • All the originals of the expenses receipts must
    have the stamp Expense done according to PIC
    Interreg III B ALPINE SPACE, project PUSEMOR
    n..amount of ..accounting date  
  • Payment receipts
  • Circular note or bank cheque not to order with
    the clear amount and the name of the person who
    is made for with the bank statement
  • Bank statement that shows the real payment of
    cheques and money transfers
  • Official Partner Journal with the cash
    payments not exceeding to 250
  • Payment order (receipted by the bank)

37
Dissemination costs
  • Information activities are admissible if done
    according to regulation nr. 1159/2000 and to the
    dissemination information Plan.
  • Accountable promotion publication activities
    can be
  • v Publication related to conferences and
    seminars
  • v Brochures (with general information about the
    project)
  • v Video presentations on the activities done.

38
Receipts
  • Required expenses receipts are
  • Invoice of the purchase and/or of the
    performance with the stamp Expense done
    according to PIC Interreg III B ALPINE SPACE,
    project PUSEMOR n..amount of ..accounting
    date
  • Riceipt of the purchase and/or of the performance
    with the stamp Expense done according to PIC
    Interreg III B ALPINE SPACE, project PUSEMOR
    n..amount of ..accounting date
  •  
  • Paymente receipts for instance can be
  • Payment order (receipted by the bank)
  • Order for payment
  • Bank cheque not to order made out to the
    property /service supplier
  • Circular note made out to the property/service
    supplier bank statement with bank transfer that
    shows the payment and the holder clearly
    specified.

39
Other expenses
  • All the expenses directly or indirectly related
    to the project, at full cost or adding these to
    the project according to pro-rata criteria, that
    are not in the prevoiusly mentioned category.
  • These expenses will be evaluated case by case
    respecting the fact that they must be concerning
    the acticities done in the project and according
    to the rules fixed by the regulation (CE) nr.
    448/2004.

40
Receipts
  • Expenses receipts can be
  • v Calculation prospectus for each acounted amount
    for part (in pro-quota)
  • v Invoice with stamp Expense done according to
    PIC Interreg III B ALPINE SPACE, project
    PUSEMOR n..amount of ..accounting
    date
  • Payment receipts can be
  • v Bank cheque not to order made out to the
    receiver
  • v Circular note made out to the receiver
  • v Bank statement with money transfer

41
Not admissible expenses
  • These are not admissible expenses
  • Negative interests
  • Premiums ( financial and collection charges )
  • Loss on exchange
  • Amends, penalties and legal disputes expenses
  • Big infrastructure (higways or major ways)
  • Cars and other vehicles with an engine
  • Natural Contributions 1
  • Marketing or selling expenses and/or
    distribution of properties and/or services
    expenses if not related to the project and not
    indicated in the Application Form
  • 1 except for what is defined in the regulation
    nr. 448/2004 and not exceeding the 15 of the
    project budget.

42
Admissible expenses in some cases
  • Subcontract in the cases mentioned in
    Regulation 448/2004
  • Natural Contributions - in the cases mentioned in
    Regulation 448/2004
  • Depreciation depreciation cost of real
    properties or equipment directly related to the
    project is admissible on condition that
  • Not other national or UE financing have been used
    to purchase real properties or equipment
  • Depreciation cost calculated according to
    accounting rules and is supported by depreciation
    plan that has to be attached at the accounted
    expense (Infrastructure Investment and
    Equipment)
  • Only referred at the cofinancing period.

43
Admissible expenses in some cases
  • VAT - VAT admissible only if really and
    definitely done by the final payee. Recoverable
    VAT is not admissible even if will not be really
    recovered by the final payee.
  • In order to admit VAT is necessary to present a
    declaration signed by legal responsible of the
    project that certifies the VAT treatment.
  • IRAP - IRAP is admissible only if calculated on
    payment for the work attributed to project.

44
Revenue
  • Possible incomes produced by project activities(
    (as selling/hire of properties and services)
    riduce the requested financing amount and are
    deducted from admissible expenses of the project
    entirely or o pro-rata (if they are generated
    entirely or partially by the project).
  • Partners,in order to check obtained revenues
    ,have to send certificator the related receipt
    documents (as invoice o equal documents, part
    income C/A, partner oficial accounting journals)
    that can support the request.
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