Cost effectiveness and financial management

E.U. Flag

 

 

 

The

budget of the project

The budget of the project is 4.9 million euros and reflects the strategic and operational considerations made in de divisions of tasks.

To strengthen the involvement of all regions, each region provides at least one of the 7 work package leaders and is often involved as a task leader in other work packages. The full participation of all regions can be seen in the distribution of the budget between regions. It is a strategic choice to let company partners focus on substantive issues, such as input on skills and regional collaboration, not on managing work packages. Although the total budget for companies is lower than for other partners, sufficient budget has been made available for these specific tasks.

4.2 million euros is earmarked for personnel costs

Most of the budget, 4.2 million euros, is earmarked for personnel costs. The amount is based on the time needed to perform tasks and achieve output and result. That is, the budget is allocated to partners by estimating the required working days. The budget is based entirely on the roles and responsibilities of each partner. Each partner provided the daily rate for their staff. Daily rates include actual salaries plus social security contributions and other statutory costs. Partners have also provided information on what type of staff will perform the work. Most of the work will be performed by teaching staff and technicians. Since companies and representatives of the sector do not have a teaching staff, their staff in this project consists of project managers and technicians. As the consortium partners have a wide variety of knowledge and skills, no budget is provided for subcontracting.

 

109 thousand euros is earmarked for staff mobility

International activities are an important condition for achieving the objectives of this project. Although virtual meetings are a good opportunity for frequent contact, physical meetings are essential for cocreation and shared learning. For reasons of ecology, efficiency, and budget we have combined international meetings. Therefore, a budget of 109 thousand euros is sufficient for staff mobility. Since most activities, in which students participate, take place in the region, no budget has been included for student travel. For the calculation of mobility costs, the amounts for regular KA2 travel, accommodation and subsistence costs have been used. Green travel has been used for trips between the Netherlands and Germany, for other trips there is no green alternative yet.

266 thousand euros is earmarked for equipment and other goods, works and services

The budget for equipment and other goods, works and services is 266 thousand euros. Several types of transnational activities are included in this budget, such as workshops, work conferences, two summer schools and two conferences with more than 100 attendees. There is also budget reserved for regional meetings. Materials and services for sharing and adopting good practices is also included in the budget. Examples are the development of a digital learning platform and digital courses. Furthermore, budget is allocated for (external) assessments and control and for communication and dissemination.

In summary, the allocated budget for each work package corresponds to the size and duration of the work package.

Financial control

The lead partner appoints a financial manager/controller to monitor the budget, prepare financial reports and ensure proper internal control. Partners are asked to prepare annual accounts to gain insight into their expenditure. Financial reports will be included in the interim report, as well as in the final report.