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The SRA Symposium - College of Medicine

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POST-AWARD (Quick Glance Comparison between US and EU funding rules)<br />

Post Award US EU<br />

Financial administration rules provided<br />

in full with each award<br />

Single set <strong>of</strong> rules apply commonly<br />

across all schemes<br />

Interest earned on project funds Initial $250 is not counted, but sums<br />

in excess <strong>of</strong> this are to be included in<br />

revenue streams<br />

Cash flow timing specified and fixed<br />

at time <strong>of</strong> funding<br />

N Y<br />

Y N<br />

Must be included in revenue streams,<br />

but ONLY if lead partner<br />

Y N<br />

Staff time / effort % Effort report Total hours worked on all activities<br />

converted to “person months”<br />

Financial Reporting Annual cost statement Annual cost statement<br />

Contract Framework Award made to lead University<br />

or Non-Pr<strong>of</strong>it who then<br />

subcontracts to each research<br />

partner<br />

Applicable contract law framework<br />

(country there<strong>of</strong>)<br />

Award made to Project<br />

Coordinator, with each<br />

research partner joining Consortium<br />

Agreement<br />

US Belgium/Luxembourg<br />

Audit - local certification When above threshold Each cost statement<br />

Audit - by funder In exceptional circumstances or<br />

random sample<br />

Each programme will be audited once<br />

at any point during life and up to 5<br />

years after end<br />

Audit fees eligible costs? Yes but may be Direct or F&A Y, but capped<br />

Currency USD EURO<br />

Currency losses/gains N/A Will not be refunded/recovered<br />

Working Bibliography<br />

Guide to Financial Issues relating to Indirect Actions <strong>of</strong> the Sixth Framework Programmes (Version<br />

– April 2004).<br />

Sixth Framework Programme Checklist for a Consortium Agreement (reference MS/AS 2002/09<br />

revised 31/03/2003).<br />

European main contract terms (Approved by the Commission on 23 October 2003, decision C<br />

(2003) 3834 dated 31.10.03), plus Annex II General Conditions (Approved by the Commission on<br />

17 March 2003, decision COM (2003) 799/2 dated 17.03.03).<br />

Scientific and Technological cooperation between the European Community and the Government<br />

<strong>of</strong> the United States <strong>of</strong> America (Official Journal <strong>of</strong> the European Communities dated 22.10.98 EN<br />

L 284/37).<br />

Office <strong>of</strong> Management and Budget Circulars A-110, A122, A-133, & A-21.<br />

http://fp6.cordis.lu/fp6/home.cfm<br />

Useful Links<br />

http://www.eurunion.org/legislat/STE/EUUSS&TCoopAgree.htm<br />

Papers<br />

2005 <strong>Symposium</strong> Proceedings Book 185

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