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Model financial statement

Model financial statement (Annex VI to the Model LIFE Grant Agreement)

Update 25/10/2017: Please note that individual and consolidated financial statements (FS) have been modified; For those projects that use the previous financial statement of the individual beneficiary it is useful to check the explanation in the headings and at the bottom of the new template since it may facilitate the completion of the document in the correct way. All projects should however, use the new template of the consolidated financial statement when submitting the final financial statement (or the interim financial statement in case of integrated projects).

Updated 25/10/2017: the template has been made more user friendly (i.e. more explanation in the headings and at the bottom of the sheets which help to complete the sheets correctly, include possibility to add 10 rows at the time,…). A correction was done for the CAP building strand to take out the possibility to encode the 'overheads' which are not eligible, correction formula VAT calculation.


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Download: Consolidated Financial Statement for the coordinating beneficiaries
Updated 31/08/2018:The change done in the latest version concerns a correction in the ‘cost summary’ sheet. The text that indicated if the budget shift is above the 20% or not was checking a wrong cell. It now takes the info in cell S113 instead of S112. The calculation of the budget shift percentage, however, was not impacted.

Further guidance for Coordinating Beneficiaries to complete the cost summary sheet:

The Cost Summary Sheet provides the possibility to indicate budget shifts that do not require a formal amendment (i.e. within the 20% eligible cost threshold for the project). To help Coordinating Beneficiaries to optimise the budget, we recommend them to :
1.        First encode the contractual budget (i.e. the latest budget approved by EASME either at the time of the signature of the grant agreement or at the time of a formal amendment)
2.       Secondly, encode the declared costs

3.       After that, to check if the total declared cost by all project beneficiaries is < or = the contractual budget and if this is the case make sure that the new ‘final budget’ for each of the cost categories is at least the amount of the declared costs by the beneficiary for the category concerned (but please note that the total amount of the contractual budget for all beneficiaries and the new ‘final budget’ for all beneficiaries should be equal). If the amount of declared costs by all project beneficiaries is > the contractual budget, there is a general overspending by the consortium and then it is up to the Coordinating Beneficiary to decide where the excess of budget goes from the under-spending beneficiaries.


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