Horizon Europe financial rules

Topics included in the course:

• The two basic principles of grant financial management and rules are: a. The prefinancing is considered EC property until approved, and b. Approved funds are only those that were actually consumed. How does this work exactly and how do these two principles portray the financial framework of the project on one hand, and of the beneficiaries on the other hand?
• An overview of the financial management basic elements: budget vs. actual, record keeping, deviations, reporting, amendments, etc.
• DoA to reality: revisiting, adapting, adjusting when needed and monitoring the original Description of Action (DoA) budget to the execution reality. This is a basic step for ensuring smooth execution of the project. We will learn how to do that.
• General eligibility conditions – what are eligible and ineligible costs?
• Personnel costs – how is this calculated and managed? Different types of personnel assigned to the project
• Subcontracting – how to do it right, applying “best value for money” principle
• Travel costs – managing the project-related travel costs
• Equipment and infrastructure – how to calculate depreciation costs, when is it a good idea to rent or lease equipment, when are full ‘Capitalised costs’ relevant
• Goods and services – What types of services are relevant here? How to keep record of all goods and services related to the project? What is the difference between these costs and subcontracting?
• Financial support to third parties (FSTP): what does this mean and when is it relevant? What are the best practices for managing this type of cost?
• Internally invoiced goods and services – what is unique about this cost category? How and when to apply it?
• Access to research infrastructure
• Indirect costs – what can this be used for?
• Lump Sum
• Preparing for potential financial audits
• And more…