Activity Organisation, Budget and Financial Management Sample Clauses

Activity Organisation, Budget and Financial Management. The coordinator at Ruhr-University Bochum will be responsible for managing the budget. The partners agree to contribute to overall coordination costs by assigning at least 25% of the lump sum per partner University to the Ruhr-University Bochum. For financing coordination costs at each of the partner universities, every partner university will receive an initial transfer or EUR 5.000. Partners will use the amount for the promotion of EUSA_ID at their institution, especially for the organization of information days for potential applicants and for costs related to the participation in EUSA_ID meetings. An additional amount of up to EUR 2.500 can be transferred to each partner university on request • for coverage of costs for participation in the kick off meeting 2013 which have to be accounted for via submission of invoices and other required documents according to the Erasmus Mundus regulations • if the initial amount of EUR 5.000 has been spent and additional coordination costs arise. The request has to be supported by a proof of spending of the initial transfer and require a specification of spending purposes. The University of Bordeaux and Sciences Po Bordeaux will share one coordination lump sum as calculated at the stage of application. In case of the joint coordinator, UWC, the above rules apply. In addition the supplemental lump sum of EUR 10.000 for joint coordination can be transferred on request. The request has to be supported by a proof of spending of initial transfers and require a specification of spending purposes. Each partner is responsible for the management of the coordination lump sum and for keeping the receipts of all expenses (for a period of 5 years after project end) corresponding to the respective regulations. Partners report annually to the coordinator on spendings made from the coordination lump sum. For the purpose of identifying possible unspent funds, financial reports from 2015 onwards have to include a forecast of spending until project termination. If the need arises, the coordinator together with the joint coordinator will suggest how unspent funds shall be used. The subsistence allowance for incoming students and staff as given in the Call and the Grant Agreement will be provided for each type of mobility (Master Student, PhD Student or Staff). As a rule, the subsistence allowance for Master- and PhD students will be paid by the coordinator into a bank account in the EU on a monthly basis, even for the EU students going ...