1. eLF e-Learning Fitness www.elearningfitness.eu Financial Management University of Rome La Sapienza (IT) Federazione Italiana Aerobica e Fitness (IT) Centro di Ricerche Economiche e Sociali (IT) Central YMCA Qualifications (UK) EFAA (NL) Malta Exercise Health And Fitness Association (MT) National Training Centre (IE) Escola Superior de Desporto de Rio Maior – Inst. Politécnico (PT) Pôle d'Innovation, de Recherche et de Développement Local (FR) Ovidius University of Constanta, faculty of Physical Education (RO) Comenius University in Bratislava, Slovakia (SK) G.E.E. Aeróbic y Fitness Alicante (ES) European Observatoire of Sport and Employment (FR) Sports Union of Slovenia (SI) Register of Exercise Professionals (UK) Willibald-Gebhardt-Institut (DE) Lietuvos kūno kultūros akademija (LT) Stiftelsen TISIP (NO) Sprek og Blid Akademiet (NO)

2. THE CONTRACT The Grant Agreement defines rights and obligations between the partners and the Commission. It is made up of the following documents: Annex 1 Description Annex 2 Budget Annex 3 Mandate letters of co-beneficiaries Annex 4 Project Handbook Annex 5 list of Beneficiaries February 3-5, 2011 Kickoff Meeting

3. THE BUDGET The total budget of the project is EUR 666.667,00 . The maximum contribution is EUR 500.000,00 equivalent to 75%. The remaining 25% represents the partner co-financing Payments: the pre-financing represents the 40% of the Agency contribution A second pre-financing can be paid when at least 70% of the previous pre-financing has been used The final payment will be made after the approval of the final reports February 3-5, 2011 Kickoff Meeting

4. REPORTING Reporting to the Coordinator: Quarterly Management Report, made up of two parts: A description of the activities carried out for each WP, A summary of the manpower spent and of the expenditures of the period; A monthly time sheet Reporting to the Agency: Excel Workbook to be submitted as Annex I to the Progress Report and to the Final Report. February 3-5, 2011 Kickoff Meeting

5. FINANCIAL RULES (1/2) To be eligible, costs have to: Be related to activities involving the eligible LLP countries Be incurred during the eligibility period Be necessary for the project and foreseen in the budget Be actually incurred and recorded in the accounts Be reasonable Comply with requirements of tax and applicable social legislation Comply with the principles of Sound Financial Management (principles of economy, efficiency and effectiveness) February 3-5, 2011 Kickoff Meeting

6. FINANCIAL RULES (2/2) Not-eligiblecosts Return on capital Debt and debt service charges Provisions for losses or potential future liabilities Interest owed Doubtful debts Exchange losses VAT – unless the Beneficiary cannot recover it Costs covered by another EU project Excessive or reckless expenditure Eligible costs become ineligible when not supported by adequate supporting documents February 3-5, 2011 Kickoff Meeting

7. CATEGORIES OF ELIGIBLE DIRECT COSTS – STAFF (1/2) The following types of staff are eligible: Statutory staff (permanent or temporary contract) Temporary staff recruited via an employment agency Costs based on real daily cost staff rates (cannot exceed maximum rates for LLP) Costs are based on actual salaries plus social security charges and other statutory costs included in the remuneration. Non-statutory costs like bonuses, lease car, expense account schemes, incentive payments or profit-sharing are excluded February 3-5, 2011 Kickoff Meeting

8. CATEGORIES OF ELIGIBLE DIRECT COSTS – STAFF (2/2) Supportingdocuments: Documentexplaining the internal policy on salaries and the calculationof the daily rate Timesheetssignedbybothemployee and responsibleof the organisation. Offilcialpayrolldocument Proofthatsalaries and social security contributionhavebeenpaid The abovedocumentsshouldbekeptfor 5 yearsafter the finalpaymentismade February 3-5, 2011 Kickoff Meeting

9. CATEGORIES OF ELIGIBLE DIRECT COSTS – TRAVEL & SUBSISTENCE (1/3) Travel costs are eligible provided: They are in line with the partner’s usual practices They are connected to specific and clearly identifiable project activities They are based on real costs; partners are required to use the cheapest means of travel Include all costs from point of origin to point of destination and viceversa Travels of non-staff members can be charged under subcontracting or other costs February 3-5, 2011 Kickoff Meeting

10. CATEGORIES OF ELIGIBLE DIRECT COSTS – TRAVEL & SUBSISTENCE (2/3) Subsistence costs cover accommodation, meals and local travel costs. They are eligible provided: The journeys are directly connected to specific and clearly identifiable project activities They are reimbursed by the existinginternal rules of the partner (actual or daily allowance basis -subject to the maximum) Proof of attendance and overnight accommodation will be required May be reduced by 50% if no overnight stay February 3-5, 2011 Kickoff Meeting

11. CATEGORIES OF ELIGIBLE DIRECT COSTS – TRAVEL & SUBSISTENCE (3/3) Supporting documents: tickets (plane, train, bus, etc.) and invoices (hotels, restaurants, travel agency); boarding cards; for car journeys: declaration stating the calculation method with unit rate and number of units, dates and names and activities concerned; list of participants with clear identification of the activity/purpose of the trip, dates, names and functions of the participants proof that the payments have been made by the partner and are recorded in the accountancy. February 3-5, 2011 Kickoff Meeting

12. CATEGORIES OF ELIGIBLE DIRECT COSTS – OTHER COSTS Other costs are those arising direcly from requirements of the Grant Agreement. Examples: Meeting organisation (catering, external experts,…) Dissemination of information (brochures, website, video production, …) Translations Supporting documents: Contracts and invoices Proofs of payments February 3-5, 2011 Kickoff Meeting

13. INDIRECT COSTS The indirect costs category represents a flat rate amount (a maximum of 7% of the total amount of eligible direct costs). The corresponding costs need not be justified Examples: Costs for equipment related to the administration of the project Communication costs (postage, fax, telephone) Infrastructure costs (rent, electricity) February 3-5, 2011 Kickoff Meeting

14. REPORTING PROCEDURES (1/2) Everythreemonths (by the 15 of the monthfollowingeachperiod) each partner will upload on the project website: The Quarterly Management report The monthlytimesheet Copiesofsupportingdocuments The templates , togetherwithinstructions, willbeavailable on an appropriate directory in the project website. February 3-5, 2011 Kickoff Meeting

15. REPORTING PROCEDURES (2/2) At the end of the first reportingperiod (31 May 2012 at the latest) each partner willprovide the coordinatorwith the excelworkbookdulystamped and signed, togetherwithany information and documentrequiredfor the preparationof the interim report. February 3-5, 2011 Kickoff Meeting

16. Thank you for your attention For any further information: Sabrina Giampaoletti giampaoletti@dis.uniroma1.it Tel. +39 06 77274124 February 3-5, 2011 Kickoff Meeting