The Framework Programme for Research and Technology (FP7) was the main research funding stream in the European Union from 2007 until 2013 with a €54 billion budget.
Recipients of EC FP7 funds are required to manage the administration of their fund in accordance with type of award they have received for their project.
All staff and students employed as part of an EC funded project are required to keep accurate Timesheets for work carried out on specific EC funded projects. PI's not directly employed by the grant are also required to keep records of time worked. A timesheet template is available at the end of this page.
Recipient must also submit financial reports over the duration of their project and at the project end. Reports must be submitted within strict deadlines. All financial report must be submitted to the project coordinator. Please check Article 4 of your grant contractual agreement for details of your reporting periods. For further information please visit our Reporting page.
The EC will make an initial pre-financing payment to an award. After which, interim payments of the Community Financial Contribution, will be made in correspondence to the amount accepted for each financial reporting period. For further information, please visit our EC Payments & Budgets and Reporting pages.
- Your financial statement (Form C) may require an audit in order to obtain a certificate on the financial statement
- If your total fund exceeds €375,000 an audit is required. In this case, the Cambridge European Team will arrange this on your behalf
NB: VAT continues to be an ineligible cost on FP7 grants and as such, cannot be claimed from the EC. However VAT is no longer reclaimable from HM Revenue and Customs. - To cover this shortfall, your department will have to meet the difference from its share of the overheads. For further information on VAT claims please visit the University of Cambridge Tax services and purchases pages.
