The EC shall make an initial pre-financing payment. Interim payments of the Community financial contribution shall be made corresponding to the amount accepted for each financial management reporting period. The total amount of pre-financing shall not exceed 90% of the maximum Community financial contribution so the full budget will not be received until the end of the project.
Your budget will be set up on the University Financial System under Task 1. When coding expenditure to the grant standard expenditure categories such as staff costs, travel and subsistence will apply. 20% overheads on direct expenditure can be claimed and the UFS will calculate these. Overheads cannot be claimed on any subcontracting (e.g. audit costs). The EC will reimburse 100% of costs.