Hi all,
Yesterday most partners received an email from our side for the second phase of the budget change and spanding plan.
Context
After gathering your spending plans in preparation for the Bergen meeting, we noticed there would be an underspending at project level. However, during the speed dating, we came to the conclusion that by moving some budget around the different lines (staff, external expertise…) many partners would be able to absorb more spending.
Actions
We have now sent you a table with your original budget for you to move around budget if you need to.
In case the final result is still underspending, giving the money back seemed like the least preferred option for the partnership. So please take that into account when filling in the excel:
- If you’re a partner who would underspend, consider keeping the unused budget as a buffer in case the project gets a time extension.
- If you’re a partner who will spend according to plan, consider if you could absorb more expenditure to do additional/more intense activities in case other partners give away part of their budgets. You can make two scenarios if you want to.
The deadline for that is 20 November.
Next steps
Once we agree on a new budget, we will submit the change request to the JS. We promised them to do it before Christmas.
While waiting for the approval, we will start drafting the new shared cost structure for the Partnership Agreement, as the percentages over the global budget will very probably change and we will need to modify the PA. In that proposal, we will include the shared costs for communication (towards Aarhus University) as proposed in Bergen. You will of course have a chance to review this new shared cost structure.
If the budget change is approved, everyone agrees on new amounts and we confirm the model for the reimbursement, we would launch a new PA. In terms of timing, that would be end of Q1 2020 if everything goes well.
Questions?
As always, we’re available for you. For questions about your own budgets, you can book a call with us through the link sent via email.