Financial services during project start

China

Beijing

Internal budget number

Your project will be given an Internal Budget number (also called the project number) which is used when personnel, material and other costs are being administered, and to be able to report these figures to the grant provider. The monitoring process and reporting will be based on this number. Reimbursements you will make for costs related to the project will also use this reference number.

You must complete an application form and prepare an internal budget; the Project Control team can help you with this step, and with getting a signature from the head of the department and the dean and Executive Board if this is also required.

If you need support or you have questions, please contact the Project Control team.

Calculate internal budget

The Internal Budget is required during the starting phase of any project. Budgets using external grants must pay faculty for internal overhead costs for services from Project Desk and Project Control. The head of the faculty department must also be informed about the new project and approve the internal budget.

The financial structure is anchored in the internal budget. It also states how costs and revenues are administered, what internal overheads have to be paid to the faculty department and shows the effects of the subsidy on the department. Project Control will assist you to prepare and calculate the internal budget. Just as in the Agreement, the internal budget also needs to be signed by the head of the faculty department or the treasurer of the department.

Eligible costs and reimbursement procedures

Not all costs are eligible and can be reimbursed. Each grant provider has their own guidelines and frameworks in which we can process financial transactions. Reimbursable costs, the applicant’s own contribution and the information required for reporting financial figures varies according to organisation. Project Control can provide you information about financial guidelines at the start of the project. You should also be aware of internal procedures and official forms for reimbursing expenses. Project Control can explain these to you.

Time registration required

Most grant-providing organisations require you to log how much time is spent on the project. They use personnel costs and the ‘full-time equivalent’ (fte) to calculate an hourly rate. Timesheets are generally used to explain and justify personnel costs and thus explain performed – and realised – activities carried out to achieve the proposed project objectives. Project Control can provide a timesheet template and further instructions about how to record time on the project. Please note that timesheets must be signed by the researcher and the head of the department within 10 days of the end of each month.

Timesheets (template)

There are different timesheets applied for different grant providers; some require more information than others. For example, FP7 Co-operation projects require a record of hours at work package level. The activities within FP7-Co-operation are divided in work packages, which describe specific planned activities to be performed in accordance to the project plan. Project Control can provide you with template timesheets and can explain how to fill them in. Please see the example timesheet below.