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:
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 |
Charging Costs Correctly to FP7 Collaborative Projects
fp7_collaborative_project_cost_categories.pdf (384.51 KB)