Costs and financing. The costs of the FIPDes course are based on a number of fixed and variable costs. In addition, a number of scenarios with varying numbers of EU as well as third country students and varying distribution among institutes / institutions with higher or lower institutional fees were used to make a best estimate of the fees needed to cover the costs of FIPDes. The upper case and base case scenarios can result in either a surplus of income over costs or a deficit. Yearly adjustments in fees will be made to keep within budget or to compensate for likely events such as: • Introduction of institutional fees in institutes / institutions currently not having such fees • Yearly modification of some institutional fees Yearly, a new budget will be composed, and proposed to the Consortium Committee for approval. In case of surplus during the FIPDes period, the Consortium Committee will decide how to allocate these funds for the benefit of the FIPDes courses. In case of a surplus at the end of the FIPDes period, if any, this will be divided among the Partners in a way to be agreed upon by the Consortium Committee. The financial arrangements will be as follows: • All money (grants from EU, scholarships and subscription fees of students without scholarship, extra resources such as sponsoring) is transferred to the account of AgroParisTech, adequately labelled and solely reserved for the FIPDes Consortium. From this account, the coordinator will proceed to the following (but non exhaustive) transfers of money to students or partners, or to direct payments: • The scholarships to students (monthly scholarship, after deduction of travel- and subscription fee) are transferred on the personal European bank account of the student • Insurance coverage of student under the XX XX program according to the minimum requirements for the health and accident insurance coverage • The administrative costs for running the program (secretary work, other administrative costs, management) • All costs related to the scientific, academic or administrative coordination of the course • Meetings of the Consortium Committee and other necessary mobility costs linked to practical organisation of the course • Meetings of the Advisory Board, including travel and stay • The institutional university fees charged per individual FIPDes student by the institutes / institutions where the student is studying. The institutional university fees being different from one institution to another, they may possibly be ...
Costs and financing. 10.1. The Partner Universities undertake to distribute the income from tuition fees among them in the following manner: Out of every tuition fee, 22% are allocated to the administration of the FINDATA study programme by the Coordinator. The Coordinator thus keeps them in his account per the whole period of studies. The remaining 78% tuition fee income are distributed among all the Partner Universities according to the number of students paying the tuition effectively studying at the particular Partner University. This means in case of EUR 6000 tuition per year that EUR 660 per semester is kept by the Coordinator (irrespective of where the student is studying) and the Partner University teaching the student receives in the particular semester receives EUR 2,340 per this student and semester.
Costs and financing. 25. The project is estimated to cost $214 million. The government has requested a concessional loan in various currencies equivalent to $150 million from ADB’s ordinary capital resources, in concessional terms, to help finance the project. The loan will have a 32-year term, including a grace period of 8 years; an interest rate of 1.0% per year during the grace period and 1.5% per year thereafter; and such other terms and conditions set forth in the draft loan agreement. The loan from ADB will finance: (i) part of civil works and equipment costs, (ii) consulting services, (iii) part of incremental recurrent costs, and (iv) financing charges during implementation.14 The government will provide $56.1 million equivalent to cover: (i) taxes and duties, (ii) part of civil works and equipment costs, (iii) part of incremental recurrent costs, and
Costs and financing. 6. The overall Xxxx Xxxxx-II project cost estimates are prepared by the designated operator of the project, BP. SGC estimates its cash requirements. Table 4:[CONFIDENTIAL INFORMATION DELETED]
Costs and financing. The financial balance of the JEM-FIPDes programme is submitted to a yearly reassessment so as to take into account the variability of resources, expenses and specific constraints, while responding to governance and strategic directions the Consortium agrees on. The current rule is to transfer a lump sum per student per academic registration. A compulsory financial check will be done during the selection process to ensure that no losses will occur regarding the M2 mobility pathway, with a specific focus on Food Packaging Design pathway. Resources and costs of the programme were identified: - Resources: varying amount of subscription fees paid by EU as well as non-EU students (subscription fees can be higher than the national/institutional tuition fees paid by regular university students not participating to this Joint European programme, as they benefit from a specific highly integrated programme as well as extra services), scholarships, sponsorship, etc. - Costs: joint academic and management costs (including insurance coverage of student according to the minimum requirements for the health and accident coverage, FIPDes week and diploma ceremony, coordination costs), lump sum transferred to consortium operating partners, any specific costs related to the strategic plan. As the national institutional tuition fees charged for joint programs by institutions are different due to differences in national policies (Annex 4 – table 2), the principle of a lump sum per student per academic registration in one operating Partner (Annex 4 – table 1) is the prevailing business model. On the date of signature of the current agreement, this lump sum is worth 4000€ and covers at least the value of national fees. Concerning Lund University, it provides on the whole a level of income in line with local rules regarding the numbers and categories of students enrolled. In case of regulatory changes in national policies impacting the consortium business model, the consortium operating partners agree on negotiating the best possible fees for FIPDes students. Any substantial change in national fees or regulation that would impair financial sustainability and induce a reassessment of FIPDes business model entails a financial amendment to the current consortium agreement. Each operating partner decides on its own on how this lump sum is used, understanding that the European financial guidelines, agreed as standards by the consortium, are respected. For all purposes European JEM-FIPD...
Costs and financing. The costs of the FIPDes course are based on a number of fixed and variable costs. In addition, a number of scenarios with varying numbers of Programme as well Partner country students and varying distribution among Partners are used to make a best estimate of the registration fees needed to cover the costs of FIPDes (see article 5.2.). All resources (EU grant including management lump sum, participation costs of students without Erasmus Mundus scholarship, extra resources such as sponsoring) are transferred to the APT account, adequately labelled and solely reserved for FIPDes. From this account, the Coordinator will proceed to the following (but non exhaustive) transfers of money to students, scholars or partners, or to direct payments: • The EM Students’ scholarships which are transferred on the personal European bank account of the student • The insurance coverage of students according to the minimum requirements for the health and accident insurance coverage • The EM Scholars‘ scholarships which are transferred on the personal bank account of the scholars • The administrative running costs for the programme (management wages, other administrative costs…) • Eligible costs related to joint scientific, academic or administrative coordination of the course • Registration fees charged per individual FIPDes student transferred to the Partners where the student is studying in the form of a lump sum (see below). • Any other costs decided upon by the Consortium Committee to be covered from the funds. The institutional university fees and the academic cost calculations being different from one institution to another due to differences in national policies, the principle of a lump sum per student per academic registration at each Partners is the prevailing business model (Annex 5). On the date of signature of the current agreement, this lump sum is worth 4000€ and covers at least the value of national fees. Concerning LU, it provides on the whole a level of income in line with local rules applying to EMJMD programmes and regarding the numbers and categories of students enrolled. Each Partner decides freely on how this amount is internally used to ensure the highest impact on the EMJMD FIPDes quality. However, the lump sum is considered to cover a minima: • The university fees charged per individual student • The organisation expenses for Consortium and IAB meetings (included travelling and stay) • The organization of local compulsory activities for students (i.e....
Costs and financing. 1. The total cost of the investment program is about $1,180.0 million equivalent, including taxes and duties. Tranche 1, inclusive of physical and price contingencies, interest, and other charges on the loan during construction is estimated to cost $280.0 million. The investment plan for the program is summarized below. Table 1: Summary Investment Plan ($ million) a Item Investment Program Tranche 1
Costs and financing. The costs of construction of the Improvements shall be paid for with the Utility Bonds. The City does not pledge its full faith and credit to any Utility Bonds authorized under this Agreement. The Parties agree that the Authority may finance the Initial Work with Utility Revenues it receives pursuant to the Trust Agreement, prior to the issuance of Utility Bonds. In the event the Authority (i) does not issue Utility Bonds or (ii) issues Utility Bonds and the Utility Revenues are in excess of the amounts required to pay Financing Costs (“Excess Revenue”), the Parties agree the Authority may expend such Excess Revenue on any of the Improvements to the System contemplated by Act 392 or for any other lawful purpose under Act 392 consistent with the Lighting Plan.
Costs and financing. Financial and administrative coordination of the master course will be done by the coordinating institution (Ghent University) according to financial management guidelines (Annex 7) and upon decisions made by the Programme Board. The financial arrangements will be as follows: The coordinating university receives all incoming money (scholarship grant from EU, scholarships and tuition fees of students without scholarship) on a central account. Scholarships (monthly allowances, and mobility flat amounts) for grant-holding students will be kept on a separate sub-account. With the exception of the IMBRSea tuition fees, scholarships are transferred according to the scheme and rules agreed in the student agreement (see Annex 6) to the accounts of the students concerned. The currency of the consortium will be Euros. From the incoming money generated from tuition fees the following costs will be covered: Tuition costs and course participation costs at each university where the student is following courses at: the coordinating institution will reimburse to each partner university the rate of 1500 euro per semester per student. All costs of jointly organized activities such as the joint school and the annual symposium (both excluding transport). Costs for scholar mobility in cases where no alternative funding can be found. The administrative costs programme (coordination costs, meetings of the board, …). A special account will be opened for the IMBRSea programme at each participating partner university under the control of the respective financial services. The Erasmus Mundus budget will be managed according the specific European rules but will in addition also follow the general financial regulations of Ghent University as public institution. Financial transactions are clearly earmarked, registered and saved. Proof has to be collected. By law furthermore, the finances of public universities in Flanders are supervised by a Commissioner of the Flemish Community, continuously following up the activities. The coordination office is responsible for an open accounting system to the partners allowing full transparency of money flows and internal and external control. Detailed guidelines on the financial management are outlined in Annex 7.
Costs and financing. Financial administration of the programme is carried out by the coordinating university (UGent) in agreement with decisions made by the MB. This task is entrusted to the International Training Centre (ITC) at the Faculty of Bioscience Engineering at UGent, which manages and coordinates all English taught master programmes at the Faculty, including 3 EMJMD programmes. The ITC will handle all administrative and organisational issues relating to the programme. The coordinator provides a financial overview to the MB at the MB meetings and whenever the MB requests so. A dedicated account will be opened for the programme at each partner university, under control of the respective financial services. The programme’s budget is managed by the Programme Secretariat according to the Financial and Administrative Handbook of the EACEA. Financial transactions are clearly earmarked and registered. By law, the finances of public universities in Flanders are supervised by a Commissioner of the Flemish Community, continuously following up the activities. The coordination secretariat is responsible for operating an open accounting system for the partners, allowing full transparency of money flows and internal and external control. CSV: 426469799347663521747078 - Verificable en xxxxx://xxxx.xxxxxxxxx.xxx.xx/cid y Carpeta Ciudadana xxxxx://xxxx.xxxxxxxxxxxxxx.xxx.xx Insurance: the insurance fees are paid by the coordinating university who registers all students in the programme. Tuition fees: are paid to the partner universities based on the number of credits for which the student is enrolled at each institution per semester. The credits for internship and master dissertation are assigned to the partner that takes up the supervision/promotership of the internship/dissertation. The tuition fees are calculated according to the rules established in Annex 1. The exact scales can be adapted yearly and need to be ratified by the MB before the start of each new academic year. Deviations exceeding 15% of the total initial tuition require an amendment to this article, after approval from the Management Board and the governing body of the institution organising the master’s programme.2 Due tuition fees are paid from the programme account to the respective partner universities. The payment is transferred on presentation of an official invoice to Ghent University, with mention of the VAT number, and no earlier than the start of the semester at the particular partner institute. The payment...
