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The Coordinator shall: review the reports to verify consistency with the project tasks
before transmitting them to the IMI JU; monitor the compliance by participants with their obligations
under the grant agreement; Instruct the managing entity to administer the IMI JU financial
contribution regarding its allocation and distribution between beneficiaries and activities.
Role of the Coordinator
Roles of coordinator and of managing entity of the IMI JU funding
The Managing Entity shall: keep the records and financial accounts making it possible to
determine at any time what portion of the IMI JU financial contribution has been paid to each beneficiary for the purposes of the project;
inform the coordinator and the IMI JU of the distribution of the IMI JU financial contribution and the date of transfers to the beneficiaries when requested;
ensure that all the appropriate payments are made to the beneficiaries without unjustified delay.
Role of the Managing Entity
Roles of coordinator and of managing entity of the IMI JU funding
Grant agreement Core Grant Agreement Annex I - DoW , former Full Project Proposal (FPP) Annex II – General Conditions Annex III – Form A – Accession Forms Annex IV – Form B - Accession Forms for new participants Annex V – Form C – Financial statement Annex VI – Form D – Certificate on the financial Statements (CFS) List of Special clauses
IMI Financial Guidelines Amendments Guide for IMI projects FP7 Guidance notes for CFS
Reference documents
Reporting timelines
Consortium 60 days
to prepare and submit
the report through the coordinator
Months –see GA
Reporting
period
IMI 90 days to approve and pay - without suspension periods
Max. 90 days 60 days
Start date End date Reporting Payment
Individual Form C (Financial statement); Summary Financial Report; Periodic report, including “use of resources”; CFS – Certificate on financial statements, if applicable.
Interim reports
Content of the reports
Final report
All the above; Report on the distribution of the IMI JU financial contribution
between beneficiaries (30 days after the final payment).
Reporting actors
All participants: Beneficiaries; EFPIA companies; Third parties (under special clause 4); Other participants (under special clause 11).
Each group has separate FORM C
Reporting workflow
Coordinator with the support of the Managing Entity
IMI JU
Periodic Report Forms C and CFS
EFPIA participants
Beneficiaries 3rd parties (SC4)
Affiliates
Participants (SC11)
3rd parties (making resources available)
Receipts of the project
Income generated by the project; Contribution in-kind or financial transfers or their equivalent
from third parties (legal entities not participating in the GA); Financial contribution from EFPIA companies and their
affiliated entities or from participants which are neither beneficiary nor an EFPIA company.
Form C – Financial Statement (upper part)
Project nr Funding schemeProject Acronym
Period from dd/mm/yyyyTo dd/mm/yyyy
Legal Name nnOrganisation short Name nn
75%
RTD(A)
Management (B)
Training(C)
Other (D)
TOTAL (A+B+C+D)
Personnel costs
Subcontracting
Other direct costs
Sub-total direct costs
Indirect costs
Total
Maximum IMI JU contribution
Requested IMI JU contribution
Indirect CostsFunding % for RTD activities (A) Method based on actual indirect costs?
Method based on flat rate of 20 %?
1- Declaration of eligible costs (in €)
nnnnnn
Participant number in the project
Is this an adjustment to a previous statement ?
ANNEX V - FORM CFINANCIAL STATEMENT - to be filled in by each beneficiary
IMI Research Projectxxxxxxxxxxxxxxxxxxxxx
Participant Identity Code (PIC)
Type of Activity
Form C – Financial Statement (lower part)
If yes, please mention the amount (in €)
If yes, please mention the amount (in €)
4- Certificate on the methodology
5- Certificate on the financial statements
Name of the auditor
If yes, please mention the amount (in €)
Is there a certificate on the financial statements provided by an independent auditor attached to this financial statement according to Art. II.4.4 of the grant agreement? (The requirement to provide a certificate on the financial statements shall be waived for those beneficiaries that declare personnel and indirect costs on the basis of a certified methodology approved by the European Commission within the Seventh Framework Programme in accordance with Art. II.13.2. of the grant agreement, except for the final reporting period; Art. II.4.5 of the grant agreement.)
3- Declaration of interest yielded by the pre-financing (only for the managing entity of the IMI JU funding )
Is there a certified methodology provided by an independent auditor and approved by the European Commission according to Art. II.13.2 of the grant agreement?
Cost of the certificate (in €)
2- Declaration of receipts2a) Did you receive any financial contribution from an EFPIA company?
2b) Other receiptsDid you receive any financial transfers or contributions in kind, free of charge from third partiesor from a participant under special clause 11, or did the project generate any income which could be considered a receipt according to Art. II.16 of the grant agreement?
Did the pre-financing you received generate any interest according to Art. II.18 of the grant agreement?
Do you declare average personnel costs according to Art. II.13.2 of the grant agreement?
Form C – Adjustment to previous periods
Separate Form C (1 Form C per adjusted period)
Only the difference must be reported, i.e. positive
or negative adjustment compared to the amounts which have already been reported.
Form C – Adjustment to previous periods
Period 1 (claimed)
Period 1 (revised)
Adjustment to Period 1
Total eligible direct costs 100,000 95,000 -5,000
Overhead 20% 20,000 19,000 -1000
Total 120,000 114,000 -6,000
IMI JU requested contribution 75% 90,000 85,500 -4,500
Periodic report
Scientific report Use of resources – financial part 1 table for each participant 1 table for each adjustments
Periodic report TABLE PERSONNEL, MAJOR COST INCLUDING SUBCONTRACTING
[Beneficiary number and name] – [if applicable, adjustment to Period n] Work relevant to Work- Package(s) Item description Amount in € Explanations of the use of resources
… Personnel direct costs Functions and FTEs / No names!!!
Subcontracting, [if foreseen in Description of Work]
Description of the tasks performed (only minor tasks can be subcontracted)
Consumables [if applicable] Describe main cost items Equipment depreciation [if
applicable] e.g. purchase of important equipment (provide
detail), Travel costs Date, place and purpose.
Indirect costs e.g. 20% flat rate, actual indirect costs, N/A (included in FTE )
TOTAL COSTS
Budget for the period
Deviation
The CFS includes three parts (to be signed and dated): The terms of reference; The report of factual findings; The table of procedures.
Content
CFS – Certificate on Financial statements
To be submitted by: Beneficiary and third parties (special clause 4); EFPIA companies.
The CFS must be prepared by an independent certified auditor.
Who?
CFS – Certificate on Financial statements
Required when cumulative IMI JU contribution / total in-kind contribution declared in the FORM(S) C exceed 375k EUR (current and previous uncertified periods);
Requirement to submit intermediate CFS is waived for participants having a certified methodology;
In any case for the final report, notwithstanding the amount (changes in the GA to be communicated in due time).
When?
CFS – Certificate on Financial statements
Analysis by: Scientific (Project) Officer Financial Officer
Comparison to Annex I (DoW) and SOFIA, in particular
deliverables, milestones, budget, subcontracting
If Documents are missing or if the report is incomplete –> the time limit is suspended (« Stop the clock »)
How does IMI analyse the reports ?
Analysis of reports
Prefinancing:
𝑇𝑇𝑇𝑇𝑇𝑇𝑇𝑇𝑇𝑇 𝐼𝐼𝐼𝐼𝐼𝐼 𝑐𝑐𝑇𝑇𝑐𝑐𝑇𝑇𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑇𝑇𝑐𝑐𝑇𝑇𝑐𝑐𝑐𝑐𝑐𝑐𝑛𝑛𝑐𝑐𝑛𝑛𝑐𝑐 𝑇𝑇𝑜𝑜 𝑝𝑝𝑛𝑛𝑐𝑐𝑐𝑐𝑇𝑇𝑝𝑝𝑝𝑝
× 160%
Interim payments: Reimbursement of accepted requested IMI
contribution. 90% rule: Prefinancing plus the sum of the interim payments
cannot exceed 90 % of the max. IMI contribution. The remaining amount will be paid with the final payment.
Interim Payments – cash flow
Final Payment – cash flow
The final payment is made after the approval of the final reports;
It consists of the difference between the accepted IMI JU financial contribution (on the basis of the eligible costs) minus the amounts already paid (taking into account the 90% rule);
The total payment is however limited to the maximum IMI JU financial contribution as stipulated in Article 5 of the GA.