IUCN Project Budgeting Guidelines

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "IUCN Project Budgeting Guidelines"

Transcription

1 IUCN Project Budgeting Guidelines Version: 14 February 2014 Issued by: Chief Financial Officer Contents 1. Definition Purpose Budget principles : Budget types Budget structure Budget development Budget timeframe Budget currency and exchange rates Co-funding In-kind Roles and responsibilities Tools Budget revisions and modifications Budget monitoring

2 1. Definition A budget is a financial plan. It is a projection (forecast) of what will happen financially if certain decisions are implemented and actions undertaken over a certain period of time. A project budget is a prediction of the costs associated with a particular project. These costs include labour, materials, and other related expenses. A project is normally broken down into specific activities, with costs assigned to each activity. The sum of the activity budgets equals the project budget. 2. Purpose The purposes of a budget are: To determine the estimated cost of doing something To inform resource allocation decisions To assess the financial consequences of alternative scenarios To control costs To measure performance through the comparison of actual costs against budget To enable the measurement of the comparative performance of different projects To enforce financial accountability Once the budget has been set, it budget provides a financial framework for the decision making process, i.e. is the proposed course of action something we have planned for or not. Do we have the financial resource to fund the proposed course of action? Once a budget is in place, it enables the actual project performance to be measured against the budget. 3. Budget principles : Key budget principles that need to be adhered to when developing a project budget are: The budget must reflect the activities to be performed. The starting point should therefore be to consider the planned project activities and consider all the costs necessary to perform the activities. The budget should reflect the total project lifecycle and be divided into appropriate time periods (e.g. years) so that it is clear as to when expenditures are planned to be incurred. The budget should be realistic. It should be based on a realistic assessment of expected costs. It should neither be inflated nor should costs be underestimated. It should be based on real cost data to the extent possible, e.g. actual staff costs, price lists for standardised goods or services, quotations from suppliers, or past experience. The budget should be comprehensive in that it should include all costs necessary for the delivery of the project. The budget should be transparent. The budget should be simple to understand with clear links between the activities to be performed and the associated costs. The budget should be built from first principles with unit costs and quantities clearly shown. Budget assumptions should be clearly stated. The budget should be accurate. It should not contain arithmetic errors. 2

3 The budget should be timely, i.e. developed early on as part of the project planning process to allow for assessing alternative scenarios and to assist in the establishment of a cost effective project plan. The budget should be flexible, e.g. it should be possible to modify the budget if new information is obtained or project plans are revised. The budget should demonstrate value for money. The budget should be results based with clear linkages between costs (inputs) and results (outputs). 4. Budget types A budget should be prepared for each project included in the ABC list. a) A - project concepts A preliminary budget should be developed for each project concept. This should be a broad estimation of the costs necessary to implement the project. In order to estimate the costs it will be necessary to have an understanding of the expected activities and where they will be performed. The cost estimate will assist in determining the feasibility of the project. The cost estimate can be developed by considering the main cost categories and assigning a value to each, e.g. Staff costs Consultants Cost of implementing partners Travel Other costs For projects with an estimated cost of CHF 500k or over, the project concept budget needs to be submitted together with other project documents for peer review. (See project appraisal procedure.) By its nature a project concept budget is likely to contain a high margin of error. However, the estimate should be sufficiently useful to respond to questions such as: Is the project feasible? Will anyone be interested in funding it? Is it a funding priority or is it likely to divert funds from more important areas of work? b) B - donor proposals Once a concept has been approved a detailed workplan and budget will need to be prepared. This will be an iterative process. First the workplan will need to be drafted and the project activities identified. Once this has been done, work can start on the budget. The workplan and budget should then be adjusted and refined in parallel with the objective of maximising benefits vs. costs and achieving an optimal allocation of resources. 3

4 The below checklist can be used to assess the completeness of a budget: Checklist for draft budgets This checklist may be used to assess the completeness of either a project concept budget or a project proposal budget. It should be completed by the project manager and reviewed by the project sponsor (unit head or responsible global programme/regional director). For further information and guidance, please contact Finance. Key data Project name Total Value Staff time: value and % Management fees/indirect cost % 1 General 1.1 Do the proposed implementing units/offices/partners have the technical capacity to carry out the work? Assess, to the extent possible, based on knowledge of the capacity of the various entities that will be responsible for implementation. 1.2 Is the project to be implemented in several countries? If so, which offices and do they have available resources to take on the project? 1.3 Are implementing partners to be used? Are they already known? Have they worked with IUCN before? 2 Budget 2.1 Does the budget match the described scope of work? Check that the budget is aligned to the scope of work 2.2 Does the budget include itemised costs for: a) Communications b) Finance support c) Reporting support d) Audit e) Monitoring & Evaluation Yes/ No/NA Comments from project manager Comments from project sponsor 4

5 2.3 Is there sufficient provision for IUCN staff? Consider all staff inputs that will be required including support staff such as project administration, finance, monitoring, legal etc. 2.4 Is there a clear distinction between consultancy costs and IUCN staff costs? 2.5 Is there sufficient provision for indirect costs/overheads: Overheads may be covered by a flat fee, e.g. 7% of total budget; be shown as direct project costs, e.g. office costs; or included in the charge out rate of staff; or a combination of these mechanisms. 2.6 Is co-funding planned? If yes, has it been identified? 2.7 Are in-kind contributions planned, and if so, what are they? 3. Other comments c) C- signed contracts At the point a contract is signed the budget becomes part of the contractual agreement with the donor. The budget is now fixed and can only be amended in accordance with the terms of the contract. 5. Budget structure Budgets need to be built following a standard structure that represents a logical breakdown of the work to be performed. The fundamental budget unit is the activity budget. Each project activity should have its own budget, and when consolidated these budgets make up the project budget. The project budget hierarchy is: Project budget Activity 1 Expenses Activity 2 Expenses Activity n Expenses 5

6 In addition, the budget structure should also include a link between project activities and component results so that the costs associated with delivering component results can be tracked. Example Activity 1 Contribution to component result 1: 20% Contribution to component result 2: 30% Contribution to component result 3: 50% (This attribution process will be further developed during the course of 2014.) This budget structure should be used for all projects and where acceptable to donors this should be the same format presented to donors. In the event that a donor insists on its own standard format the budget should be rearranged and presented in the donor format. The above budget structure is also aligned with the IUCN accounting dimensions set up in the ERP system. The relevant ERP dimensions are: Project code project identifier Activity code one for each project activity Expense code which identifies the specific expenses to be incurred An additional, non mandatory, dimension exists called Donor Reporting code for projects that need to be presented and tracked in accordance with specific donor formats. For projects that are funded by more than one donor the budget needs to be further analysed by who is funding what. A fund code exists in the ERP system for this purpose. 6. Budget development The first task is to identify all possible costs. Some costs will be easy to identify while others will be less apparent. Costs may be "one-off" or be repeated throughout the period of the project. Costs should be identified by considering each activity in turn and determining the cost inputs necessary to deliver those activities. The recommended approach is to first identify direct project costs and then build in indirect costs. These are defined as follows: Direct costs - costs that can be directly attributed to a project activity. Indirect costs - costs that cannot be directly attributed to a project activity. a) Direct costs 6

7 Many direct costs (but by no means all) are costs that would only be incurred if the project goes ahead. However, application of this principle is likely to lead to a too narrow set of costs being defined as direct costs, and although it may be a useful consideration, it is best to apply the principle of attribution as the key determinant of whether something can be budgeted as a direct cost or not. For example, a person may be recruited for the sole purpose of implementing a project, in which case the costs are clearly direct, but similarly, existing staff may be allocated to a project. Since the time they work on the project can be tracked through time sheets their costs can be directly attributed to the project and treated as a direct cost. Categories of direct costs: i. Staff time Staff time is the cost of the time of staff spent on a project activity. Staff time should be budgeted for all the positions required to implement the activities, the number of days required for each position and the daily charge out rate of each position. I.e. for each position: Number of days X charge out rate = budgeted cost Daily charge out rates should be calculated in accordance with the IUCN Time Management Policy. (add link/reference) The following functions should be considered when budgeting staff time: Project staff i.e. those staff responsible for delivering the bulk of the project activities Specialists, e.g. communications, policy, gender Project management / coordination Time of senior management if they have a specific role to play in the project Project monitoring Project finance staff (donor reporting) Project administration staff Legal staff for review of the contract As a general rule, if someone s time can be directly attributed to a project it should be budgeted as a direct cost! In order to allow for budget flexibility, the names of individual should not be shown in the budget; only the positions. Key staff that are proposed to work on the project can be included in the project workplan. The cost of recruitment and termination of project staff should be built into the daily charge out rates. There is no set rule as to the amount of staff time (as a percentage of the total budget) that should be budgeted. It will depend on the type of project being implemented and the mechanism of implementation. Projects with a substantial part implemented by partners will have a low percentage of staff time compared with projects with the majority of the work being performed by IUCN staff. It is important to map out the activities, consider how they will be implemented and by whom, determine the expertise required and then build the staff budget. 7

8 In cases where the targeted donor/grant conditions preclude full cost recovery, the managing unit will need to document the reasons and allocate other funds as co-funding to the project, in order for the project to be approved. ii. Other direct costs incurred by IUCN Costs of workshops, meetings, Consultants Project specific communications, e.g. publications, website development and maintenance Knowledge Management (KM) capturing outputs and lessons learnt Project evaluations Project audits Project equipment, e.g. computers and licences, cameras (if purchased for a specific project) Project vehicles (if purchased for a specific project) iii. Cost of implementing partners Commission engagement Implementing partners iv. Other costs which can be potentially treated as direct costs: Depending on the nature and size of a project, it may be possible to treat certain costs as direct costs which would otherwise be treated as indirect cost Office rent and utilities where space is dedicated to the management of a project (i.e. the office space used by project staff) the cost of that space may be treated as a direct cost. In such cases the cost of office space and services must be based on a robust and fair cost allocation mechanism used to distribute costs to all projects and activities being carried out by the office concerned. In cases where the office is opened purely for the purpose of implementing a single project all the office costs can be treated as direct costs. Eligible office costs would be: office rent, utilities (electricity, heating, ventilation), cleaning, security, building maintenance. Vehicle usage where common IUCN vehicles (i.e. vehicles not purchased for the sole purpose of the project) are used for project implementation, the cost of the vehicles can be treated as a direct cost on the basis of planned usage (expected number of kilometres). A log book must be maintained and the cost per kilometre determined based on either the cost of purchasing/running/maintaining the vehicle divided by the estimated total kilometres that the vehicle is envisaged to complete over its useful life, or an acceptable local standard rate. Telephone where the cost of telephone calls can be tracked by project the cost can be treated as a direct cost. Photocopy same principle as telephone costs. 8

9 Storage if specific storage facilities are required for project equipment or documents then the costs should be treated as a direct cost. Project development to the extent possible project development should be budgeted as a direct project cost, e.g. the time of staff incurred on project development, the time and costs of assessment missions etc. b) Indirect cost Indirect costs are those costs that cannot be directly attributed to a project activity. Categories of indirect costs Office rent and utilities (if it is not possible to attribute them to a specific project) office rent utilities (electricity, heating, ventilation) cleaning security building maintenance Vehicle and equipment costs Vehicle depreciation and running costs Equipment depreciation and maintenance Implementation, maintenance and operation of central systems (finance, HR etc) Software licences Communication costs Telephone Internet Services Financial services transaction processing, treasury (not project finance services which should be treated as a direct cost) HR services IT services help desk Reception Insurance Document management and storage Financial control and oversight Tools and frameworks Project cycle management frameworks Risk management Processes and procedures Management infrastructure General Management Expert staff Maintaining and developing the Union Governance Institutional capacity building Union development and support Corporate communications and branding Knowledge management Project development (if not possible to budget as a separate activity) 9

10 c) Service charges Indirect costs may be bundled together and presented as service charges. The IUCN Headquarters administers two service charges: i. HQ service charge The HQ service charge represents the cost of services provided by HQ service units to all IUCN HQ units, including Global Thematic Programmes which implement projects. The service charge covers the following costs: Personnel services, e.g. recruitment, payroll Transaction processing, cash management Local IT infrastructure and services Office space and services Only the costs of those services where there is a direct relationship between the service provided and a member of staff are included in the service charge fee. The service charge is presented as a cost per workstation and is currently CHF 20k p.a. Programmes based at IUCN Headquarters must therefore include recovery of the annual workstation fee in their project budgets in order to recover the costs of HQ Services. The service charge should be presented as a direct cost in budget proposals and be based on the number of days budgeted for each position. The amount can be budgeted as a separate line in the project budget, or included in the daily chargeout rates of the persons budgeted. The latter is the preferred approach but this is not accepted by all donors. (See IUCN time management policy for guidance on charge-out rates.) ii. Global service charge The global service charge represents the cost of services provided by HQ service units to all IUCN programmes and offices worldwide. The services covered by the charge are different to those covered by the HQ service charge there is no duplication. The global service charge covers the following costs: Global HR systems and processes, e.g. Human Resources Management System Global finance systems and processes Project management tools, standards and processes Programme support and development The global service charge is currently 2% of total project expenditure, i.e. 2% of all other budgeted costs, including costs to be incurred by implementing partners. All IUCN programmes units worldwide must therefore budget for the 2% charge in project budgets in order to recover the costs of these global services. 10

11 The costs covered by the global services fee are indirect costs. They will normally be covered from the indirect cost % allowed by most donors. In cases where a donor is willing to accept the cost as a separate budget item they should be budgeted accordingly. iii. Regional service charges Several regions operate cost allocation systems, e.g. for the allocation of office space and common services. The cost of these services must be included in project budgets as either a direct cost (preferably) or as an indirect cost. d) Management fees The indirect costs detailed in section ii which cannot be packaged and presented as either a direct cost or as a service charge need to be budgeted as a management fee. Many donors do not recognise the term Management Fee but instead use terms such as Administration, Overheads, Indirect costs. For all intents and purposes they are all one of the same thing. What level of management fee should be budgeted? All donor agreements need to include a contribution to cover IUCN indirect costs. Indirect costs are mostly incurred by IUCN corporate units, though some may also be incurred by programme units. The level of the management fee can therefore be determined by looking at the cost of IUCN corporate units. The figure below gives a breakdown of the IUCN 2014 budget by programme areas and corporate functions Budget: split by programme area/corporate functions Valuing and conserving nature 25% 36% Governing nature's use and sharing its benefits equitably 25% 14% Deploying nature-based solutions to global challenges: climate, food, economy Corporate functions The cost of the various corporate functions of IUCN represents approximately 25% of the total IUCN expenditure budget 1. The figure below gives a breakdown of the various corporate functions as a % of the total budget. 1 Source: 2014 workplan and budget 11

12 2014 Budget: corporate functions as a % of total budget 4% 4% Finance 0.6% 0.6% 0.7% 0.7% 1.0% 4% 4% 3% 2% Information systems Human resources Office services Programme support Communications Membership Governance Legal and oversight Fund-raising Management A substantial part of the corporate functions are funded from core contributions to the IUCN global budget. The below table shows how different functions are funded: Cost of corporate functions as a % of total budget by funding source Corporate Funded Funded by Function functions by core projects Finance 3.8% 1.0% 2.8% Information systems 3.1% 1.7% 1.4% Human resources 1.7% 0.5% 1.2% Office services 4.5% 1.6% 2.9% Programme support 4.5% 1.2% 3.3% Communications 1.0% 0.5% 0.5% Membership 0.7% 0.7% 0.0% Governance 0.7% 0.7% 0.0% Legal and oversight 0.6% 0.6% 0.0% Fund-raising 0.6% 0.6% 0.0% Management 3.8% 1.0% 2.8% 25% 10.0% 15.0% 40% of the cost of corporate functions (representing 10% of the total budget) is funded by core funding and 60% (representing 15% of the total budget) by project funding. Therefore, as a guide, 15% every project budget should fund corporate costs. Budget Direct costs 85% Indirect costs 15% Total 100% These corporate costs may be budgeted as: Direct staff costs for items such as project finance time Service charges for items such as office space, human resources, information systems, general finance 12

13 Management fees for items such as programme support, communications and programme support. The above analysis only includes the cost of corporate functions which are managed as separate functions within IUCN. It does not include the cost of administration incurred by individual programme units. These costs to the extent that they are not covered by core funding need to be included as direct costs in a project budget, e.g. the staff time of project administration staff. Projects funded by governments, multi-lateral donors and not-for-profit entities are not charged the full cost of running the Union. If each project was also to cover a portion of the costs related to governance, Membership, corporate communications, then the indirect cost % would be 25% instead of 15%. This recognises the fact that many of the donors that funds specific projects also provide core funds, either through framework agreements or Membership dues. It would not be appropriate to charge the donor twice for the same cost. The IUCN platform is however necessary for the implementation of all projects and is indeed one of the main selling points to project donors. The cost of the platform funded by core funding therefore represents a type of co-financing. Projects funded by the corporate sector Corporate sector donors are neither framework partners nor Members and therefore should pay a higher management fee. In short, corporate donors should pay the full 25%. It could be argued that the fee should be even higher as it includes neither a risk premium nor a profit element. e) Budgeting for contingencies When developing a budget there is always an element of uncertainty which need to be taken into consideration. There is always a risk that costs will be higher than budgeted and that some cost have been overlooked. In addition there may be monetary factors such as inflation and exchange rate fluctuations which cannot be foreseen at the time of budget preparation. To cover these risks a contingency should be budgeted. This should not exceed 10%. However, many donors will not accept a contingency, preferring to deal with unforeseen costs as a budget modification. 7. Budget timeframe The time frame of the budget should match the time frame of the project. The expenditure budget should cover all phases of the project, including: f) Project Development All costs associated with the planning and design incurred prior to signature of a donor project agreement. Even if the donor will not fund these costs, the costs should however be budgeted, e.g. as a separate activity, and tracked. It is important to understand the costs that go into developing new initiatives and projects even if the costs are borne by IUCN. In such cases the costs can be considered to be cofinancing. g) Project Implementation All costs associated with the delivery of the project work-plan. 13

14 h) Project closure Project closure costs may include things such as final project evaluation and audit and also internal project reviews and lessons learning exercises and ensuring that all knowledge generated from the project is captured. 8. Budget currency and exchange rates A budget can be prepared in any currency. The choice of currency will depend on the currency of the expected expenditures and on where the expenditure will take place. For example, if the project is to be implemented in Indian and most (50% or more) of the expenditure will be in Indian rupees it would be advisable to prepare the budget in Indian rupees. If the project was to be implemented in India but most of the expenditure was expected to be in another currency, e.g. USD, the project should be budgeted in that currency. If the project is going to be implemented in several locations and expenditure is planned in multiple currencies, with no one currency predominating, a common currency should be chosen such as USD, EUR or CHF. The budget should not be developed in the currency of the anticipated donor. In the event that the donor wishes to receive a budget in its own currency, the budget should first be prepared in the most suitable currency and then translated into the donor currency. In countries experiencing hyperinflation budgets should be prepared in a suitable hard currency. Exchange rates Expenses to be incurred in a currency different to the budget currency should be translated to the budget currency using the rate on the date of budget preparation. If the rate on the day of budget preparation is unusually high or low or if there is a high level of volatility, the average rate of the previous month, or previous 3 months should be used. 9. Co-funding Co-funding is when more than one donor funds a single action. Many donors make their own funding conditional on IUCN obtaining co-funding. There are several types of co-funding: a) Multi donor funding for the same project Two or more donors agree to fund the same project. The funds are pooled and used to cover activities planned under a common project concept. IUCN accounts for all expenditure under a single project, though individual expenses may be attributed to specific donations. b) Similar projects implemented by IUCN with the same or similar objectives. Projects with similar or complimentary objectives are implemented by IUCN. Each project is funded by a different donor and the projects are managed and accounted for separately. 14

15 c) Parallel funding Funds are received by another entity for the same or similar objectives. The funds do not pass through the books of IUCN and IUCN is not responsible for their implementation. d) Core co-funding Part of the project is financed from IUCN s core resources. This may be contributions of staff time from core funded staff or indirect costs not funded by the donor, e.g., office services, management and oversight, cost of the Union. Project development costs may be considered as core co-funding. Core co-financing must be budgeted as part of the project budget and then actual contributions tracked in the financial system. (Mechanism to do this has not yet been developed) e) Donor initiated co-funding A donor may receive funding from multiple sources (sometimes referred to as back donors) and then donate the funds as a single pool of funds to IUCN. For all intents and purposes the funds are treated as a single donation to IUCN and recognised as a donation from the donor with which IUCN has a contract When preparing a project budget it is advised to first prepare an expenditure budget inclusive of all costs and then consider how the costs will be funded, e.g. by a single donation or through a mix of funding. Many donors require co-financing has to be secured before signature of the donor contract. If the cofunding is not secured at the time the contract with the main donor is signed or early on in the project life cycle there is a risk that the conditions of the contract will be breached and the donor may reduce its contribution. 10. In-kind A project plan may assume that certain inputs will be received as in-kind contributions as opposed to cash contributions. In-kind contributions may include: a) Commission time Parts of the project may be delivered by Commission Members who have agreed to provide their services free of charge. b) Other experts/other organisations Other experts or organisations may also agree to provide services free of charge. c) Goods donated for a project A company may agree to donate certain goods for a project, e.g. computers. 15

16 d) Services donated A company or other entity may agree to donate certain services, e.g. meeting venues, free office space. IUCN does not currently have a standardised methodology for valuing in-kind contributions and hence it is not possible to budget for such items. It is important however that all expected in-kind contributions are included as part of the project plan and their receipt is tracked during project implementation. 11. Roles and responsibilities a) Project manager The roles and responsibilities of the Project Manager in the budget process are to: Prepare project budgets in accordance with these procedures and also with the reference to other relevant policies and procedures such as the Time Management Policy Obtain advice and input on budgets from project finance staff Submit budget proposals to donors Negotiate budget proposals with donors Ensure agreed budgets are correctly reflected in donor contracts Identify and secure co-funding where it is a condition of the donor contract Develop and agree budgets with implementing partners Enter budgets into the financial system Monitor budget performance Request budget modifications from donors when necessary b) Finance The roles and responsibilities of Finance are to: Advise on and review budget concepts and proposals Review budgets and sign them off as part of the contract clearance procedure Ensure budgets have been correctly entered into the finance system Develop project budgeting tools and train programme staff on their use Provide support to programme staff on all aspects of the budget process Monitor budget performance and alert project managers if budgets are not being adhered to Prepare interim and final reports for donors with budget comparisons c) Human resources The roles and responsibilities of the human resources unit are to: Maintain charge out rates for IUCN staff Advise on all budget issues related to staff and consultants 16

17 12. Tools The following tools are available to support the budgeting process. a) Project budget tool This is a macro enabled spreadsheet designed to build project budgets in line with the budget structure described in section 5. The tool can be found at ref. The key benefits of using this tool are: It structures the budget in the standard IUCN format and ensures budgets are built in a logical way It contains automated calculations and controls which facilitates the budget process It reduces the risk of error or omission The data can be uploaded into the ERP system without the need for re-keying data b) ERP system The Award Vision module of the ERP system is where the budget is entered and managed in the ERP system. This module is also used for managing sub-awards to implementing partners including the budget component. The module also tracks performance against key indicators, e.g. % of budget implemented, value of income received, income due, expenditure incurred, outstanding commitments. The module is also used for managing budget allocations to other offices and partners. c) JET reports Jet reports is the IUCN standard financial reporting tool. Available reports include budget vs. actual reports at the project and grant levels and detailed transaction reports. These reports allow project managers and project finance staff to track budget performance. 13. Budget revisions and modifications A project budget is a living document. The best made plans normally require modification during the course of their execution. A budget is no exception. Modifications may range from just moving figures between lines, or changing the timing of expenditures, to full scale revisions. Budget modifications will be triggered by: Changes to the project plan A re-appraisal of certain costs or resource requirements Variances in actual expenditure incurred compared to budget A change in the value of the donation Budgets may be revised: During the budget proposal process 17

18 During the first phase of a project During the course of project implementation From the time of creating a high level budget concept to the time of agreeing a detailed project budget with a donor, a budget may be changed many times. This will be an iterative process which will go hand-in-hand with the development of the project plan. Once a contract has been signed, budget modifications will be governed by the donor contract. Large scale projects may include a further development phase after the donor contract has been signed. During this phase, the activities will be further scoped and the project plan and related budget refined. As project implementation progresses, budget modification may be required to adjust for changes to the project plan or because new or better information becomes available. There will always be a certain degree of variation between budgeted costs and actual costs. Minor variations will not normally trigger a budget modification. Donor contracts normally allow for overspends and underspends on individual budget lines, provided certain limits are not exceeded, e.g. 10%, and provided the total budget is respected. 14. Budget monitoring The project monitoring module (ref) provides details on the financial components of projects that need to be monitored. In summary, actual expenditure needs to be monitored on an ongoing basis and compared to budget. Budget variances may be a result of either: Overspends Underspends Budget variances may reflect either a timing difference, e.g. expenditure was incurred ahead of the date foreseen, or the fact that actual costs were lower or higher than the budgeted amounts. In all cases the reasons for the budget variances need to be investigated and understood. Budgeting is not an exact science. There will always be variances. The important thing is to understand the reason for the variance and take action to ensure that expenditure is brought under control. END 18

EUROPEAID PROJECT ADMINISTRATION MINI-GUIDE

EUROPEAID PROJECT ADMINISTRATION MINI-GUIDE EUROPEAID PROJECT ADMINISTRATION MINI-GUIDE JUNE 2014 EUROPEAID PROJECT ADMINISTRATION MINI-GUIDE This guide presents some of the key administrative points to remember when managing EuropeAid projects.

More information

Spectrum Community Forum Grants. Application Pack

Spectrum Community Forum Grants. Application Pack Spectrum Community Forum Grants Application Pack Community Forum Grants (765120) Grant Application Form 1. What is the Community Forum Grant and what will it support? Community Forum Grants may be used

More information

Project Management Guidebook

Project Management Guidebook METHOD 12 3 empowering managers to succeed Project Management Guidebook ISBN 0-473-10445-8 A bout this e-book This e-book was created by Method123 (see www.method123.com) to help provide you with a simple

More information

Business Plan Helpsheet

Business Plan Helpsheet NORTHERN IRELAND Business Plan Helpsheet Published by Chartered Accountants Ulster Society with content from CCAB-I and the Irish Banking Federation Business Plan Helpsheet 01 Contents This helpsheet has

More information

Helpsheet Business Plan Guidance

Helpsheet Business Plan Guidance Helpsheet Business Plan Guidance Published jointly by CCAB-I and the Irish Banking Federation This helpsheet has been prepared by the Consultative Committee of Accountancy Bodies - Ireland (CCAB-I) and

More information

Business & Administration

Business & Administration Business & Administration Student Handbook Level 3 By Anthony Lapsley C o n t e n t s Unit TITLE Page Business resources 1 Agree a budget 1 2 Order products and services 19 Business support services 3

More information

Full cost recovery. Poor financial management ie being unable to work out what the true costs are and therefore pricing products and services too low.

Full cost recovery. Poor financial management ie being unable to work out what the true costs are and therefore pricing products and services too low. Full cost recovery What is full cost recovery? Social enterprises trade for a social (or environmental) purpose. This means that your services or products address a specific issue in your community or

More information

SHEET 1: CASH FLOW PROJECTED

SHEET 1: CASH FLOW PROJECTED Blended Value Business Plan Cash Flow Forecast User Guide OVERVIEW The Cash Flow Forecast is the listing of the sources and expenditures of cash plus the timing of when the cash is moving in and out of

More information

4 Project Implementation and Monitoring

4 Project Implementation and Monitoring 4 Project Implementation and Monitoring Version 3, 29 July 2014 Contents 4. Implementation and Monitoring... 2 4.1 Project Implementation... 3 4.1.1 Setting up project implementation... 3 4.1.2 Development

More information

FINANCING AND BUDGETING POLICIES. Development Program. January 2015

FINANCING AND BUDGETING POLICIES. Development Program. January 2015 FINANCING AND BUDGETING POLICIES Development Program January 2015 Bell Fund DEVELOPMENT Financing and Budgeting Policies January 2015 Page 1 Table of Contents Table of Contents... 2 A. Digital Media Development

More information

SOCIAL SAFETY NETS IN WEST AFRICA

SOCIAL SAFETY NETS IN WEST AFRICA Annex A SOCIAL SAFETY NETS IN WEST AFRICA PROJECT BRIEF TEMPLATE (PB) Funding by ECOWAS and the Spanish Cooperation Deadline for receipt of applications: March 20, 2015 Applicant s name: Dossier N (For

More information

MODULE 7 - ACCOUNTING

MODULE 7 - ACCOUNTING FINANCIAL MANAGEMENT TOOLKIT FOR RECIPIENTS OF EU FUNDS FOR EXTERNAL ACTIONS MODULE 7 MODULE 7 - Real life story The project Human Relief and Rights was run by a public sector organisation which had its

More information

General Notes Time allowed 1 hour. Answer all 60 multiple choice questions Use the proforma answer sheet provided.

General Notes Time allowed 1 hour. Answer all 60 multiple choice questions Use the proforma answer sheet provided. Introductory Certificate The APM Project Fundamentals Qualification. Examination paper Candidate Number Date Location Examination Paper Sample Paper v1.4 General Notes Time allowed 1 hour. Answer all 60

More information

PROJECT MANAGEMENT FRAMEWORK

PROJECT MANAGEMENT FRAMEWORK PROJECT MANAGEMENT FRAMEWORK DOCUMENT INFORMATION DOCUMENT TYPE: DOCUMENT STATUS: POLICY OWNER POSITION: INTERNAL COMMITTEE ENDORSEMENT: APPROVED BY: Strategic document Approved Executive Assistant to

More information

ESM Management Comments on Board of Auditors Annual Report to the Board of Governors for the period ended 31 December 2014

ESM Management Comments on Board of Auditors Annual Report to the Board of Governors for the period ended 31 December 2014 ESM Management Comments on Board of Auditors Annual Report to the Board of Governors for the period ended 31 December 2014 Dear Chairperson, I would like to thank you for the opportunity to provide management

More information

Blended Value Feasibility Study Cash Flow Forecast User Guide

Blended Value Feasibility Study Cash Flow Forecast User Guide Blended Value Feasibility Study Cash Flow Forecast User Guide OVERVIEW The Cash Flow Forecast is the listing of the sources and expenditures of cash plus the timing of when the cash is moving in and out

More information

Micah Network Reporting Guidelines

Micah Network Reporting Guidelines Micah Network Reporting Guidelines Micah Network member agencies worked together to prepare this draft. Version date: October 2006 www.micahnetwork.org Table of Contents Contents 1. Introduction 1 2. Why

More information

INFORMATION SUBMITTED BY IMPLEMENTING ENTITIES ON THE REQUESTED FEES FOR PROJECT/PROGRAMME IMPLEMENTATION

INFORMATION SUBMITTED BY IMPLEMENTING ENTITIES ON THE REQUESTED FEES FOR PROJECT/PROGRAMME IMPLEMENTATION Adaptation Fund Board Eleventh Meeting Bonn, September 16 17, 2010 AFB/B.11/Inf.6 September 9, 2010 INFORMATION SUBMITTED BY IMPLEMENTING ENTITIES ON THE REQUESTED FEES FOR PROJECT/PROGRAMME IMPLEMENTATION

More information

GUIDE FOR APPLICANTS GRANTS PROGRAMME 2016/2017 TRAINING IN CONFERENCE INTERPRETING

GUIDE FOR APPLICANTS GRANTS PROGRAMME 2016/2017 TRAINING IN CONFERENCE INTERPRETING GUIDE FOR APPLICANTS GRANTS PROGRAMME 2016/2017 TRAINING IN CONFERENCE INTERPRETING The aim of this guide is to give a summary of the main points of the administrative and financial processes governing

More information

Charities Accounting Standard Accounting Template Explanatory Notes

Charities Accounting Standard Accounting Template Explanatory Notes Charities Accounting Standard Accounting Template Explanatory Notes Introduction Purpose of Accounting Template The Accounting Template is designed to help smaller charities prepare and present financial

More information

PREANNOUNCES RESEARCH WITHIN PRIORITY SECTORS CALL FOR PROPOSALS

PREANNOUNCES RESEARCH WITHIN PRIORITY SECTORS CALL FOR PROPOSALS THE GENERAL SECRETARIAT FOR RESEARCH AND TECHNOLOGY AS PROGRAMME OPERATOR OF THE GREEK-EEA RESEARCH PROGRAMME IMPLEMENTED UNDER THE GREEK FINANCIAL MECHANISM 2009-2014 PREANNOUNCES RESEARCH WITHIN PRIORITY

More information

Electricity Market Reform:

Electricity Market Reform: Electricity Market Reform: Consultation on Low Carbon Contracts Company s and Electricity Settlements Company s operational costs 2015/16 Government Response January 2015 Crown copyright 2015 URN 15D/001

More information

Grants to Institutions

Grants to Institutions Grants to Institutions Guidelines for Financial Reporting Grant Administrative Division Project Information Summary FR1 Detailed Expense and Forecast Worksheets FR2 Expense and Forecast Summary Worksheet

More information

INTERNATIONAL DEVELOPMENT COMMITTEE

INTERNATIONAL DEVELOPMENT COMMITTEE INTERNATIONAL DEVELOPMENT COMMITTEE OF THE COUNCIL OF MINISTERS MULTI-YEAR GRANT APPLICATION GUIDANCE External Relations Division Government Office, Bucks Road Douglas, Isle of Man, IM1 3PN January 2015

More information

Performance objectives

Performance objectives Performance objectives are benchmarks of effective performance that describe the types of work activities students and affiliates will be involved in as trainee accountants. They also outline the values

More information

Capital Projects. Providing assurance over effective delivery of projects

Capital Projects. Providing assurance over effective delivery of projects Capital Projects Providing assurance over effective delivery of projects Governance and oversight Project Scope and change Reporting and communication Project risk and success factors Delivery Major projects

More information

NSW Government ICT Benefits Realisation and Project Management Guidance

NSW Government ICT Benefits Realisation and Project Management Guidance NSW Government ICT Benefits Realisation and Project Management Guidance November 2014 CONTENTS 1. Introduction 1 2. Document purpose 1 3. Benefits realisation 1 4. Project management 4 5. Document control

More information

2.1 STAGE 1 PROJECT PROCUREMENT STRATEGY

2.1 STAGE 1 PROJECT PROCUREMENT STRATEGY APM Procurement Guide : Draft7_RevA_Chapter 2.1_Project Procurement Strategy_Jan12 1 2.1 STAGE 1 PROJECT PROCUREMENT STRATEGY In this stage, the project definition is developed so that decisions can be

More information

PROPOSED ADMINISTRATIVE AND PROJECT MANAGEMENT COSTS OF THE CIF

PROPOSED ADMINISTRATIVE AND PROJECT MANAGEMENT COSTS OF THE CIF CIF/DM.1/Inf. 6 February 28, 2008 First Donors Meeting on Climate Investment Funds Paris, March 4-5, 2008 PROPOSED ADMINISTRATIVE AND PROJECT MANAGEMENT COSTS OF THE CIF 1 Climate Investment Funds Note

More information

Project Implementation Plan (PIP) User Guide

Project Implementation Plan (PIP) User Guide eea financial mechanism Project Implementation Plan (PIP) User Guide 23 November 2007 norwegian financial mechanism Page 2 of 20 1 Introduction The Project Implementation Plan (PIP) is a representation

More information

Recognition of Prior Learning (RPL) BSB40515 Certificate IV in Business Administration

Recognition of Prior Learning (RPL) BSB40515 Certificate IV in Business Administration Recognition of Prior Learning (RPL) BSB40515 Certificate IV in Business Administration What is RPL? RPL recognises that you may already have the skills and knowledge needed to meet national competency

More information

Scotland Your project business plan

Scotland Your project business plan Scotland Your project business plan Scotland Your project business plan Further copies available from: Email enquiries.scotland@biglotteryfund.org.uk Phone 0870 240 2391 Textphone 0141 242 1500 Our website

More information

I N T R O D U C T I O N THE PROCESS OF ACQUIRING GOODS WORKS AND SERVICES BY GOVERNMENT PROCURING ENTITIES.

I N T R O D U C T I O N THE PROCESS OF ACQUIRING GOODS WORKS AND SERVICES BY GOVERNMENT PROCURING ENTITIES. I N T R O D U C T I O N Public Procurement means: THE PROCESS OF ACQUIRING GOODS WORKS AND SERVICES BY GOVERNMENT PROCURING ENTITIES. This process includes purchasing, hiring, leasing or any other contractual

More information

Blended Value Business Plan Pro Forma Income Statement User Guide

Blended Value Business Plan Pro Forma Income Statement User Guide Blended Value Business Plan Pro Forma Income Statement User Guide OVERVIEW A business plan goes beyond the forecasting of a Feasibility Study. It provides details on the multiple factors required to develop

More information

FINANCIAL AND ADMINISTRATIVE FRAMEWORK AGREEMENT. between. the EUROPEAN UNION represented by the EUROPEAN COMMISSION. and. the UNITED NATIONS

FINANCIAL AND ADMINISTRATIVE FRAMEWORK AGREEMENT. between. the EUROPEAN UNION represented by the EUROPEAN COMMISSION. and. the UNITED NATIONS FINANCIAL AND ADMINISTRATIVE FRAMEWORK AGREEMENT between the EUROPEAN UNION represented by the EUROPEAN COMMISSION and the UNITED NATIONS Ref. Ares(2014)1469014-07/05/2014 Preamble The United Nations 1

More information

CENTRAL BEDFORDSHIRE COUNCIL SCHOOL S RECORD OF SELF ASSESSMENT OF KEY FINANCIAL CONTROLS

CENTRAL BEDFORDSHIRE COUNCIL SCHOOL S RECORD OF SELF ASSESSMENT OF KEY FINANCIAL CONTROLS 1) REPORTING AND EVIDENCE REVIEW The Responsible Officer should initial and date all documents, reconciliations and reports as evidence of review and record the date of the school visit in this log. If

More information

PROJECT COST MANAGEMENT

PROJECT COST MANAGEMENT 7 PROJECT COST MANAGEMENT Project Cost Management includes the processes required to ensure that the project is completed within the approved budget. Figure 7 1 provides an overview of the following major

More information

1st call for proposals: Administrative and submission procedures Infoday La Valeta, Malta, June 17th 2015

1st call for proposals: Administrative and submission procedures Infoday La Valeta, Malta, June 17th 2015 1st call for proposals: Administrative and submission procedures Infoday La Valeta, Malta, June 17th 2015 SIZE OF THE PARTNERSHIP As a minimum requirement, the partnership must involve: at least 4 financing

More information

Administration and Finances under H2020 in MSCA Helsinki 21/4/2015

Administration and Finances under H2020 in MSCA Helsinki 21/4/2015 Administration and Finances under H2020 in MSCA Helsinki 21/4/2015 Marcela Groholova Research Executive Agency Overview 1. EU contribution 2. Eligible costs 3. Cost categories 4. Parental and maternity

More information

Guidelines on Allowable Project Costs

Guidelines on Allowable Project Costs Guidelines on Allowable Project Costs 2013/2014 LIST OF CONTENTS 1. INTRODUCTION 3 2. BUDGET CATEGORIES 5 2.1 HUMAN RESOURCES 5 2.2 RUNNING COSTS (DIRECT COSTS) 7 2.3 OVERHEADS (INDIRECT COSTS) 8 2.4 CAPEX

More information

FMCF certification checklist 2014-15 (incorporating the detailed procedures) 2014-15 certification period. Updated May 2015

FMCF certification checklist 2014-15 (incorporating the detailed procedures) 2014-15 certification period. Updated May 2015 FMCF certification checklist 2014-15 (incorporating the detailed procedures) 2014-15 certification period Updated May 2015 The Secretary Department of Treasury and Finance 1 Treasury Place Melbourne Victoria

More information

1 PURPOSE AND SUMMARY 1.1 This report seeks approval to consult on the draft 2015/16 2019/20 Revenue Financial Plan.

1 PURPOSE AND SUMMARY 1.1 This report seeks approval to consult on the draft 2015/16 2019/20 Revenue Financial Plan. ITEM NO. 11(a) 2015/1 201/20 REVENUE FINANCIAL PLAN Report by the Chief Financial Officer SCOTTISH BORDERS COUNCIL 18 December 2014 1 PURPOSE AND SUMMARY 1.1 This report seeks approval to consult on the

More information

8 Operation of the Emergency Call Answering Service

8 Operation of the Emergency Call Answering Service 8 Operation of the Emergency Call Answering Service 8.1 All emergency calls made in the State are handled by the Emergency Call Answering Service (ECAS). The ECAS is operated from three centres, located

More information

CONTRACT MANAGEMENT FRAMEWORK

CONTRACT MANAGEMENT FRAMEWORK CONTRACT MANAGEMENT FRAMEWORK August 2010 Page 1 of 20 Table of contents 1 Introduction to the CMF... 3 1.1 Purpose and scope of the CMF... 3 1.2 Importance of contract management... 4 1.3 Managing contracts...

More information

FINANCIAL MANAGEMENT MATURITY MODEL

FINANCIAL MANAGEMENT MATURITY MODEL Definition: Financial management is the system by which the resources of an organisation s business are planned, directed, monitored and controlled to enable the organisation s goals to be achieved. Guidance

More information

The Project Management Life Cycle By Jason Westland (A book review by R. Max Wideman)

The Project Management Life Cycle By Jason Westland (A book review by R. Max Wideman) The Project Management Life Cycle By Jason Westland (A book review by R. Max Wideman) 11/17/07 Introduction Editor's Note: We liked so much of this book that we asked for the author's permission to quote

More information

National Occupational Standards in Accounting

National Occupational Standards in Accounting National Occupational Standards in Accounting 2 ACCOUNTANCY OCCUPATIONALS STANDARDS GROUP (AOSG) Contents Introduction to the Accounting Standards...4 Accounting Qualification Framework...6 Accounting

More information

10/30/2015. Procurement Under the New Requirements. Why This Session Is Needed. Lesson Overview & Module Objectives. Changes to conflict of interest

10/30/2015. Procurement Under the New Requirements. Why This Session Is Needed. Lesson Overview & Module Objectives. Changes to conflict of interest Requirements Procurement under the New Requirements 1 1 Why This Session Is Needed New provisions in Uniform Guidance Changes to conflict of interest requirements in Uniform Guidance Distinctions between

More information

Charities Review Council Financial Session. Barbara Clare MAP for Nonprofits Chief Financial Officer bclare@mapfornonprofits.org

Charities Review Council Financial Session. Barbara Clare MAP for Nonprofits Chief Financial Officer bclare@mapfornonprofits.org Charities Review Council Financial Session Barbara Clare MAP for Nonprofits Chief Financial Officer bclare@mapfornonprofits.org Session Objectives Review and understanding of basic financial statement

More information

Guidance on standard scales of unit costs and lump sums adopted under Article 14(1) Reg. (EU) 1304/2013

Guidance on standard scales of unit costs and lump sums adopted under Article 14(1) Reg. (EU) 1304/2013 EUROPEAN COMMISSION European Social Fund Guidance on standard scales of unit costs and lump sums adopted under Article 14(1) Reg. (EU) 1304/2013 Version of June 2015 Please consult http://ec.europa.eu/esf/sco

More information

URBACT III Programme Manual

URBACT III Programme Manual URBACT III Programme Manual Fact Sheet 2E Network Management Table of contents Fact Sheet 2E 0. Introduction... 1 1. Roles and responsibilities of Lead and Project Partners... 2 2. The legal framework...

More information

This document is intended for use by University staff as a tool to understand Financial terminology.

This document is intended for use by University staff as a tool to understand Financial terminology. GLOSSARY This document is intended for use by University staff as a tool to understand Financial terminology. ACCRUAL ACCOUNTING ACCRUED ACQUITTAL ASSETS AUDIT FINANCIAL ANNUAL REPORT The method of recording

More information

Writing your charity s investment policy A guide

Writing your charity s investment policy A guide Writing your charity s investment policy A guide www.cfg.org.uk www.charityinvestorsgroup.org.uk Contents Introduction What is this guide for?... 1 Who is this guide for?... 1 Why have a written investment

More information

Gateway review guidebook. for project owners and review teams

Gateway review guidebook. for project owners and review teams Gateway review guidebook for project owners and review teams The State of Queensland (Queensland Treasury and Trade) 2013. First published by the Queensland Government, Department of Infrastructure and

More information

The Gateway Review Process

The Gateway Review Process The Gateway Review Process The Gateway Review Process examines programs and projects at key decision points. It aims to provide timely advice to the Senior Responsible Owner (SRO) as the person responsible

More information

Global Cash Management. October 1, 2014

Global Cash Management. October 1, 2014 Global Cash Management October 1, 2014 1 Session Presenters Kaliopi Provencher Director of Treasury Operations- Johns Hopkins University Domestic and International Treasury Responsibilities- International

More information

New Beginnings. Nonprofit Incubator Guidelines

New Beginnings. Nonprofit Incubator Guidelines New Beginnings Nonprofit Incubator New Beginnings Nonprofit Incubator Guidelines Resources for Human Development (RHD) operates The New Beginnings Nonprofit Incubator to nurture, equip and grow nonprofit

More information

Abila. MIP Fund Accounting. Solutions overview. Accounts payable. Accounts receivable reporting, billing, and sales order entry

Abila. MIP Fund Accounting. Solutions overview. Accounts payable. Accounts receivable reporting, billing, and sales order entry Abila MIP Fund Accounting To help you deliver on your mission, MIP Fund Accounting is a configurable fund accounting solution that allows you to report and track information most important to you, your

More information

2 Costing and Funding. Project Costs and Funding a Cautionary Note. Preparatory Costs. Project Overheads

2 Costing and Funding. Project Costs and Funding a Cautionary Note. Preparatory Costs. Project Overheads 2 Costing and Funding 2.1 Identifying the costs of a hockey facilities project and how it will be funded is such an important part of the planning of the project that it is the focus of this separate section

More information

CULTURE PROGRAMME (2007-2013) Guidance Notes for Experts. Strand 1.3.5

CULTURE PROGRAMME (2007-2013) Guidance Notes for Experts. Strand 1.3.5 Education, Audiovisual and Culture Executive Agency Culture CULTURE PROGRAMME (2007-2013) Guidance Notes for Experts Strand 1.3.5 Version January 2012 Education, Audiovisual & Culture Executive Agency

More information

10 Steps for Managing Sub-Grants

10 Steps for Managing Sub-Grants New Partners Initiative 10 Steps for Managing Sub-Grants DRAFT Table of Contents ACRONYMS AED PEPFAR NPI USG Introduction T he Academy for Educational Development (AED) provides technical support for grantees

More information

Indian Accounting Standard (Ind AS) 115, Revenue from Contracts with Customers

Indian Accounting Standard (Ind AS) 115, Revenue from Contracts with Customers Indian Accounting Standard (Ind AS) 115, Revenue from Contracts with Customers (The Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs

More information

Blended Value Feasibility Study Pro Forma Income Statement User Guide

Blended Value Feasibility Study Pro Forma Income Statement User Guide Blended Value Feasibility Study Pro Forma Income Statement User Guide OVERVIEW The purpose of a formal feasibility study is to test your key assumptions to help determine whether the social enterprise

More information

Goals of the Unit. spm - 2014 adolfo villafiorita - introduction to software project management

Goals of the Unit. spm - 2014 adolfo villafiorita - introduction to software project management Project Pricing Goals of the Unit Understanding what are the main factors determining project and project outputs price Learn some strategies to determine price Understanding in more details the procurement

More information

STELLENBOSCH MUNICIPALITY

STELLENBOSCH MUNICIPALITY STELLENBOSCH MUNICIPALITY APPENDIX 9 BORROWING POLICY 203/204 TABLE OF CONTENTS. PURPOSE... 3 2. OBJECTIVES... 3 3. DEFINITIONS... 3 4. SCOPE OF THE POLICY... 4 5. LEGISLATIVE FRAMEWORK AND DELEGATION

More information

F I N A N C I A L R E G U L A T I O N S

F I N A N C I A L R E G U L A T I O N S F I N A N C I A L R E G U L A T I O N S South Downs National Park Authority March 2014 Page 0 of 17 F I N A N C I A L R E G U L A T I O N S Contents Page 1 INTRODUCTION Purpose of Financial Regulations

More information

Table A7/A8 Activity Costing Analysis (operating expenditure)

Table A7/A8 Activity Costing Analysis (operating expenditure) Accounting Separation 2014/15 A7/A8 Activity Costing Analysis (operating expenditure) 1.1 Background and purpose The purpose of this methodology statement is to illustrate the process and allocation procedures

More information

5.2 BUDGETING; CASH FLOW FORECASTS. Introduction To Budgets And Cash Flow Forecasts. Cash Flow Forecasts. Budget And Cash Flow Exercises

5.2 BUDGETING; CASH FLOW FORECASTS. Introduction To Budgets And Cash Flow Forecasts. Cash Flow Forecasts. Budget And Cash Flow Exercises 52 FUNDING 5 BUDGETING; CASH FLOW FORECASTS Introduction To Budgets And Cash Flow Forecasts Cash Flow Forecasts Budget And Cash Flow Exercises Cash Flow Exercises P 168 INTRODUCTION TO BUDGETS AND CASH

More information

NORTH AYRSHIRE COUNCIL CORPORATE ASSET MANAGEMENT STRATEGY 2013-2023 JANUARY 2013

NORTH AYRSHIRE COUNCIL CORPORATE ASSET MANAGEMENT STRATEGY 2013-2023 JANUARY 2013 APPENDIX 1 NORTH AYRSHIRE COUNCIL CORPORATE ASSET MANAGEMENT STRATEGY 2013-2023 JANUARY 2013 Page 1 of 10 1. INTRODUCTION It is widely recognised that asset management is a core component of effective

More information

A Guide For Preparing The Financial Information Component Of An Asset Management Plan. Licensing, Monitoring and Customer Protection Division

A Guide For Preparing The Financial Information Component Of An Asset Management Plan. Licensing, Monitoring and Customer Protection Division A Guide For Preparing The Financial Information Component Of An Asset Management Plan Licensing, Monitoring and Customer Protection Division July 2006 Contents 1 Important Notice 2 2 Scope and purpose

More information

Introduction to the ITS Project Management Methodology

Introduction to the ITS Project Management Methodology Introduction to the ITS Project Management Methodology In September 1999 the Joint Legislative Committee on Performance Evaluation and Expenditure Review (PEER) produced a report entitled Major Computer

More information

THE PROJECT MANAGEMENT KNOWLEDGE AREAS

THE PROJECT MANAGEMENT KNOWLEDGE AREAS THE PROJECT MANAGEMENT KNOWLEDGE AREAS 4. Project Integration Management 5. Project Scope Management 6. Project Time Management 7. Project Cost Management 8. Project Quality Management 9. Project Human

More information

MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS thescore, Inc. MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS For the Three and Six Months Ended February 28, 2015 The following is Management's Discussion and Analysis

More information

Outline feasibility study for ORET application in the health care sector

Outline feasibility study for ORET application in the health care sector Outline feasibility study for ORET application in the health care sector In this section we outline the information needed for a proper assessment of your application for financing under the ORET program.

More information

Efficiency and transparency Jaguar Land Rover

Efficiency and transparency Jaguar Land Rover www.pwc.co.uk Efficiency and transparency Jaguar Land Rover How Integrated Planning and Enterprise Performance Management is supporting a remarkable success story. October 2013 Industry Automotive Geography

More information

INSURANCE. Moving towards global insurance accounting

INSURANCE. Moving towards global insurance accounting IFRS NEWSLETTER INSURANCE Issue 31, November 2012 The redeliberations are winding down, with an exposure draft in sight next year. Field and user input will be key in evaluating the operationality of the

More information

Effective Date: 27 June 2013 Presidents Council Approval: 29 April 2013 Board Approval: 27 June 2013. 1. Purpose

Effective Date: 27 June 2013 Presidents Council Approval: 29 April 2013 Board Approval: 27 June 2013. 1. Purpose Davis Applied Technology College: A Utah College of Applied Technology Campus Restricted Fund Accounting Sponsored Project Contracts, Custom Fit, & Grants 1. Purpose Effective Date: 27 June 2013 Presidents

More information

Rules and Procedures in the new Programme 14-20

Rules and Procedures in the new Programme 14-20 Rules and Procedures in the new Programme 14-20 OBJECTIVES Overview of main rules and procedures to be followed Main novelties compared to the 2007-2013 period Risky points Information to be completed

More information

6.0 Procurement procedure 1 Infrastructure

6.0 Procurement procedure 1 Infrastructure Page 6-1 6.0 Procurement procedure 1 Infrastructure 6.1 Overview Introduction Procurement procedure 1 Infrastructure consists of four parts: guidelines for understanding the strategic context for the procurement

More information

Humanitarian Response Fund Guidelines

Humanitarian Response Fund Guidelines UNITED NATIONS Office for the Coordination of Humanitarian Affairs occupied Palestinian territory Humanitarian Response Fund Guidelines OCCUPIED PALESTINIAN TERRITORY P. O. Box 38712 East Jerusalem 91386

More information

APPENDIX A TRAINING AND DEVELOPMENT STRATEGY

APPENDIX A TRAINING AND DEVELOPMENT STRATEGY TRAINING AND DEVELOPMENT STRATEGY 1 CHESTER-LE-STEEET DISTRICT COUNCIL TRAINING AND DEVELOPMENT STRATEGY 1 INTRODUCTION Chester-le-Street District Council continues to change and must constantly adapt

More information

Electricity Settlements Company Ltd Framework Document

Electricity Settlements Company Ltd Framework Document Electricity Settlements Company Ltd Framework Document This framework document has been drawn up by the Department of Energy and Climate Change in consultation with the Electricity Settlements Company.

More information

Guidance on writing a business plan for your project

Guidance on writing a business plan for your project Guidance on writing a business plan for your project If you re requesting more than 500,000 from the Coastal Communities Fund (CCF), or if your total project cost is over 1 million, we would expect you

More information

PROFESSIONAL AND INSTITUTIONAL DEVELOPMENT PROGRAM: PROGRAM GUIDELINES

PROFESSIONAL AND INSTITUTIONAL DEVELOPMENT PROGRAM: PROGRAM GUIDELINES PROFESSIONAL AND INSTITUTIONAL DEVELOPMENT PROGRAM: PROGRAM GUIDELINES 0 INTRODUCTION 2 PROGRAM OBJECTIVE 2 Existing Governance Resources 3 MANAGEMENT CONTROL FRAMEWORK 3 PROPOSAL PHASE 3 Submitting Proposals

More information

White Paper On Pilot Method Of ERP Implementation

White Paper On Pilot Method Of ERP Implementation White Paper On Pilot Method Of ERP Implementation Rod Clarke Rod Clarke provides guidance, advice and support to businesses in successfully applying IS/IT in support of their business goals. He brings

More information

OneSource Finance Project Board. Finance Project Proposal & Business Case

OneSource Finance Project Board. Finance Project Proposal & Business Case UNIVERSITY OF ABERDEEN OneSource Finance Project Board Finance Project Proposal & Business Case 1. SUMMARY This paper provides information on the proposed implementation of the Finance module of Unit 4

More information

Business Plan Template for 2014-2020 Operations

Business Plan Template for 2014-2020 Operations Business Plan Template for 2014-2020 Operations Outline Guidance on Requirements for WEFO Assessment Page 1 of 27 Background Information for Applicants Please note: Key terms that have associated glossary

More information

GUIDANCE NOTE 8. Reporting of Legal Services Expenditure. To whom does the obligation apply? What does the obligation require entities to do?

GUIDANCE NOTE 8. Reporting of Legal Services Expenditure. To whom does the obligation apply? What does the obligation require entities to do? GUIDANCE NOTE 8 Reporting of Legal Services Expenditure 1. Commonwealth entities must report their legal services expenditure to OLSC within 60 days of the end of financial year. This information must

More information

Agencies and Public Bodies Team Public Bodies: A Guide for Departments

Agencies and Public Bodies Team Public Bodies: A Guide for Departments Agencies and Public Bodies Team Public Bodies: A Guide for Departments Chapter 7: Financial Management Planning, Funding and Control Chapter 7: Financial Management - Planning, Funding and Control FINANCIAL

More information

Contract risk and assurance

Contract risk and assurance Contract risk and assurance Delivering value from your key contracts and suppliers Maximise performance, confirm costs and gain assurance over your third party relationships and suppliers Performance Risk

More information

Strategic Planning Version 1.0 March 2013

Strategic Planning Version 1.0 March 2013 Introduction Strategic planning is the process of establishing goals and developing a roadmap for achieving those goals. Sound strategic planning is essential for the success of each of the regulated entities

More information

Regulation on the implementation of the European Economic Area (EEA) Financial Mechanism 2009-2014

Regulation on the implementation of the European Economic Area (EEA) Financial Mechanism 2009-2014 the European Economic Area (EEA) Financial Mechanism 2009-2014 adopted by the EEA Financial Mechanism Committee pursuant to Article 8.8 of Protocol 38b to the EEA Agreement on 13 January 2011 and confirmed

More information

Project Evaluation Guidelines

Project Evaluation Guidelines Project Evaluation Guidelines Queensland Treasury February 1997 For further information, please contact: Budget Division Queensland Treasury Executive Building 100 George Street Brisbane Qld 4000 or telephone

More information

Terms of Reference Independent Completion Report (ICR) for ADB Infrastructure Technical Assistance

Terms of Reference Independent Completion Report (ICR) for ADB Infrastructure Technical Assistance Terms of Reference Independent Completion Report (ICR) for ADB Infrastructure Technical Assistance Background Program overview Timor-Leste has critical infrastructure needs given the widespread destruction

More information

Choosing An Expense Management System

Choosing An Expense Management System Choosing An Expense Management System This guide has been produced by systems@work to help organisations manage Employee Expenses and assist with the selection of Expense Management Software. About Us

More information

Regulation on the implementation of the Norwegian Financial Mechanism 2009-2014

Regulation on the implementation of the Norwegian Financial Mechanism 2009-2014 Regulation on the implementation of the Norwegian Financial Mechanism 2009-2014 adopted by the Norwegian Ministry of Foreign Affairs pursuant to Article 8.8 of the Agreement between the Kingdom of Norway

More information

Professional Internships 2016

Professional Internships 2016 Professional Internships 2016 How can students contribute to your business? Enhance graduate employability through Work Integrated Learning (WIL) Below are just some of the areas where enthusiastic and

More information

Developing your Budget. Third Sector Workbook 5

Developing your Budget. Third Sector Workbook 5 Developing your Budget Third Sector Workbook 5 The Third Sector Workbook Series This publication is one of a series of workbooks that have been developed to help organisations to manage their activities

More information

NATIONAL COMPETENCY STANDARDS FOR QUANTITY SURVEYORS - CONSTRUCTION ECONOMISTS

NATIONAL COMPETENCY STANDARDS FOR QUANTITY SURVEYORS - CONSTRUCTION ECONOMISTS NATIONAL COMPETENCY STANDARDS FOR QUANTITY SURVEYORS - CONSTRUCTION ECONOMISTS THE AUSTRALIAN INSTITUTE OF QUANTITY SURVEYORS THE AUSTRALIAN INSTITUTE OF QUANTITY SURVEYORS NATIONAL COMPETENCY STANDARDS

More information

OPERATIONAL CASE STUDY PRACTICE EXAM ANSWERS

OPERATIONAL CASE STUDY PRACTICE EXAM ANSWERS OPERATIONAL CASE STUDY PRACTICE EXAM ANSWERS The Practice Exam can be viewed at http://www.pearsonvue.com/cima/practiceexams/ These answers have been provided by CIMA for information purposes only. The

More information