The SRA Symposium - College of Medicine
The SRA Symposium - College of Medicine
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