Minutes of Finance Meeting
Papers were distributed which demonstrated the cash flow problems caused by the payment of all the costs for the travelling exhibition by one partner and the subsequent wait for repayment by the EU. Peter Ludvigsen and Morten Bo Almstrup explained that this had to be avoided.
Cath Birchall proposed that when the money was received in May/June 03 then only the amount which represented claims to Nov 2002 would be sent to each country and the remainder would be held in Copenhagen to cover the travelling exhibition expenses .All monies due to each partner would then be paid when the final cheque was received in early 2004.
After some discussion this was accepted although Jürgen Ellermeyer and Rita Klages felt they would have problems with their funders so Peter Ludvigsen agreed to do a letter of support explaining the situation where required.
Morten Bo Almstrup circulated papers showing payments to date and a list of requirements when claims are made, he emphasised the following points:
1/10/02 &15/10/03 reports and correct financial accounts must be sent to Copenhagen.
Use local rate for euros, state rate used.
Copies of invoices must be sent.
Activities within the three years can be claimed for but no expenditure before Nov 01 and after Nov 03 is eligible.
Some discussion took place concerning the turn around time between financial claim and receipt of cheques. This is expected to be particularly long with the final claim. Peter Ludvigsen acknowledged this problem and asked that each partner complain to their own politicians about the difficulties this causes.