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Finance Helpdesk Newsletter #22

Upcoming Financial Workshops

FP7 Overheads leaflet published

Updated FP7 Budget Spreadsheet for a STREP tool

Derogation / Transitional Overhead Rate Usage

FREE downloadable FP7 book V2.0 available now



Upcoming Open Workshops:


The Finance Helpdesk Workshop dates for 2008 in Brussels, Belgium:

01/12/2008     2 Day Marie Curie Financial Workshop in Brussels, Belgium.


The Finance Helpdesk has just published Workshop dates for 2009 in Brussels, Belgium:


26/01/2009     1 Day FP7 Contract Negotiation and Project Kick-off Workshop in Brussels, Belgium.

27/01/2009     1 Day FP7 Financial Workshop in Brussels, Belgium.
28/01/2009     2 Day Marie Curie Financial Workshop in Brussels, Belgium.

30/01/2009     1 Day FP7 European Research Council (ERC) Course **NEW**

17/02/2009     3 Day in-depth FP7 Financial Workshop in Brussels, Belgium.

FP7 Overheads leaflet published: 

Indirect Costs (also known as Overheads) can be claimed in FP7 Projects in addition to any Direct Costs.

For R&D projects and Networks of Excellence, Beneficiaries must select one of the following overhead calculation methods: 20% flat rate, 60% derogation rate (Note: 60% derogation rate will be reduced for calls closing after 1 Jan 2010), or Actual Costs. The EC preference is that overheads are calculated either via the Simplified or Analytical Accounting method described in the “Guide to Financial Issues relating to FP7 Indirect Actions”. Both of these methods are known as “Actual Costs” calculations of overheads.


The Finance Helpdesk has produced a leaflet which explains:

·          The different overhead methods;

·          The difference between Simplified and Analytical accounting methods;

·          Correctly applying Overhead Rates to FP7 R&D projects.


To view the leaflet click here.


Updated FP7 Budget Spreadsheet for a STREP tool:

We have updated our “Budget Spreadsheet for a STREP” tool.

The use of such a tool is very important for proposal writers.


We first introduced such spread sheets in FP6 when we acted as evaluators. We always gave more credence to financial plans in proposals that appeared to have been derived bottom-up over those that were obviously top-down. If each partner's share of the funding consists of round numbers or if each University receives say 10%, companies 15% and the coordinator say 25%, then there has obviously not been proper analytical budgeting carried out. Such proposals rarely succeed and those that do have to be reworked at contract negotiations.


We invite FP7 proposers to make use of this tool if they wish.

To download the tool, click here.


Derogation / Transitional Overhead Rate Usage:

If your organisation is either a Non-profit public body; Secondary and higher education establishment; Research organisation; or SME; and due to the lack of analytical accounting are currently unable to identify with certainty your real indirect (overhead) costs for the project, then you have the option to claim a flat-rate of 60% of the total direct eligible costs (excluding

subcontracting and the costs of resources made available by third parties which are not

used on the premises of the beneficiary).


This 60% rate will be reduced for all projects awarded under calls for proposals closing after 31 December 2009. The new rate will be fixed around March 2009. We know that it will be less than 60%, and not less than 40%, our best guess at the moment is that it will be 50%.


Note: If you are using the Derogation / Transitional Overhead Rate and change your status during the life of the project, then you can only use this flat rate up to the moment you lose your status.


FREE downloadable FP7 Book V2.0 available now.

Version 2.0 of Mr. Myer W. Morron’s FP7 Book, which follows on from the highly acclaimed FP5 and FP6 versions has been published by EFPConsulting Ltd. The book’s Title has been modified to reflect its gradual evolution away from being ICT specific. It replaces version 1.3.


The downloadable book continues to be free as it was in the previous framework programs. The book is constantly updated and registered users are notified of important changes and updates by Email.


The book is over 240 pages long and covers subjects such as:


·          Background to changes in FP7

·          Overview of rules of participation

·          Benefits of participation in a Collaborative R&D project

·          Reasons not to participate

·          Brief Overview of Framework Program Seven and CIP

·          FP7 Funding Schemes (Types of Projects)

·          Framework Program Seven changes

·          Partner Search

·          Proposal preparation and submittal

·          What to do if your Proposal Fails

·          Project Roles

·          Financial Aspects

·          Use of External Consultants

·          What to do when your proposal is to be funded

·          Consortium Agreement

·          Problems during the project

·          Project Management

·          Project Ethics and Good Practice

·          European Technology Platforms

·          Ethical Considerations in FP7

·          Marie Curie Program

·          SME Actions

·          European Research Council Program

·          Intellectual Property Aspects

·          How to write a proposal


To download, please click here.



This newsletter has been sent out from the Finance Helpdesk Booth at the ICT2008 in Lyon.

Thank you to all that have visited us. It was very nice meeting so many of you there.



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