Which exchange rate should we use for or converting the expenses to Euros?

Partners have several options for converting their expenses into Euros:
- they can use the average monthly exchange rate set by the Commission of either the month the invoice was paid or the month the costs were reported to the Lead Partner,
- they can use the 6-months average rate of the average monthly exchange rate,
- they can use the market exchange rate of the day the invoice was paid,
- they can use the market exchange rate of the last day of the reporting period.

All partners should use the same system during the whole implementation period.

On the other hand, the same document requires that all RFO partners should use the same calculation system and Christer (VG) - according to his auditor's documents - used the last option for the conversion rate. This method adopts the market exchange rate of the last day of the reporting period which is available as the monthly average rate of the last month in the reporting period (june 2006 for the jan to june 2006 semester) provided by the Commission, which we ask you also to use while submitting your claims.

Please consider these indications while filling in the claim.

Commission monthly average rate

Which overhead rate should we use?

According to Interreg IIIC rules, overhead costs are any percentage of expenditures such as rents, phone costs, etc spent by the project. Overhead costs must be included under administration costs, not under staff or travel costs. As a general rule, administration costs (and, consequently overhead costs therein included) should not generally be more than 20% of the whole subproject budget for each partner.