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Payments

Your UFS budget will be set up for 100% of the total requested EC contribution. The below note aims to assist you in understanding the underlying financing of your award, if necessary for interactions with your Project Coordinator.

EC Cooperation funds are split into the following three payments types:

  • Pre-Financing
  • Guarantee Fund
  • Interim & Final payments

Please click here for further explanation re Collaborative project payment calculations.

Budgets

We have prepared for you detailed information on how the EC budget is calculated and how it appears on the University Financial System.

  • There are two main financial areas that have an impact on FP7 budgets: reimbursement rates and overhead rates
  • Cambridge uses the 60% transitional flat rate for overheads where possible

Overhead rates

The Department: Chest split on overheads remains 34%:66% as in Framework 6. The overhead rate depends on the type of project/the activity.

When departments charge direct costs to the grant the University Financial System (UFS) will calculate the correct indirect costs (overheads) and allocate them to the Department or Chest account. Please see below examples.

Networks of Excellence 60% overheads
Collaborative Projects 60% overheads
Coordinated Actions 7% overheads
Support Actions 7% overheads
Collaborative Projects with CA or SA 60% for CP part 7% for CA or SA

Please click here for further information on setting up EC Budgets on UFS and to view examples of how CUFS deals with the different reimbursement rates

 

Charging Costs Correctly to FP7 Collaborative Projects

In Framework Programme 7 the EC distinguishes between different types of activity, paying different reimbursement rates for the different types: Research and Technical Development (RTD), Management, Demonstration and Other. CUFS is set up with different tasks for these different activities. It is exceedingly important that costs are charged to the correct category as mis-charging costs to the incorrect task leads to numerous queries from the EC when the costs are reported and can lead to lower income for Departments. Please see the below FP7 Cost Categories document explaining this issue and providing examples of which types of costs should be charged under which activity type.

Contact the Research Operations Office European Team:

European Policy Manager
Renata Schaeffer
Tel: 01223 761648

EC Coordinator Grants Manager
Catherine Hill
Tel: 01223 761647

ERC Officer (Maternity Cover)
Sara Imarisio 
Tel: 01223 765418

 

Need further information?