Innovation, Excellence, Strategic Development, Fund, Funding, Department of Health, New Awards

1. 1
Payments & Financial Monitoring
IESD New Awards Event

2. 2
Payment Schedule
• Payments are usually made bi-annually (subject to Grants Hub approval).
For larger projects you may receive quarterly payments
1.Quarter 1 and 2 (April – September)
2.Quarter 3 and 4 (October – March)
• However, your payment schedule may change throughout the lifetime of
the project due to changes to your reporting requirements. This will be
discussed beforehand by your Account Manager.
• Your payment may be pro-rated for a number of reasons such as delays
with start date. Therefore your project may slip into another year.

3. 3
Financial Monitoring
What do we want?
• An expenditure sheet explaining your activities from April to March.
• It must be submitted by the end of April.
• The template must include your original/revised budget.
• Clear explanations for variances/movements over £1,000 between your
budget and actual expenditure, against each line expenditure
• Clear explanations for underspends.

4. 4
Example – Expenditure sheet
INNOVATION EXCELLENCE AND STRATEGIC DEVELOPMENT FUND - MONITORING PACK 20114/15
Organisation Name:
Project Title:
Reference number:
Please only complete cells highlighted in blue
ANNEX D - ACTUAL EXPENDITURE
ORIGINAL
BUDGET
AMOUNT
£
ACTUAL
EXPENDITURE
AMOUNT
£
VARIANCE
(See Note 3)
£ COMMENTS
INCOME
Grant requested from Department of Health 50,000 50,000 -
Any grant c/f from previous year(s) (1) -
Other sources of funding for this project -
Total Income 50,000 50,000 -
EXPENDITURE
CAPITAL EXPENDITURE
Fixtures/ fittings -
Office Equipment(s) -
Computer(s) 1,000 800 200
Software/programmes -
REVENUE EXPENDITURE
Salary (please provide a breakdown by post name
giving salary cost by whole time equivalent)
Project Manager 23,500 23,500 -
Project Worker 12,000 12,000 -
On cost of salary (NI & Pension) 4,260 4,260 -
Travel & Subsistence (staff) 500 900 - 400
Recruitment 1,200 600 600
Volunteers training -
Staff Training 800 1,000 - 200
Volunteers’ Costs (travel & subsistence) -
Evaluation -
Dissemination -
Consultancy (excluding marketing) -
Rent 1,000 1,000 -
Rates 600 600 -
Telephone 300 300 -
Postage 340 740 - 400
Communication Costs (See Note 3)
Production and distribution of Disks/CDs 2,000 500 1,500
Event to be held in next financial year.
Underspend discussed and agreed with
Account Manager 15/1/13.
Events (Conference & Seminars) -
Market Research 2,500 2,100 400
Marketing Consultancy -
Marketing/Promotion/Publicity -
Printing -
Digital activities (see Note 3) -
Mobile App including design/upgrade -
E-learning platforms including design/upgrade but
not content changes -
Website Design/changing functionality but not
including content changes -
Governance Costs -
Administrative Staff -
Audit and Accountancy -
Database Maintainance -
Finance/HR
Governance Costs
IT
Legal Expenses
Management Meetings Cost
Postage
Rates/Rent
Telephone
Trustees
Utilities
Other (you must provide a full description)
-
-
TOTAL EXPENDITURE 50,000 48,300 1,700
Underspend (1) - 1,700 - 1,700

5. 5
Continued…Underspends
• We would like you to communicate as early as possible if you have any
underspends to prevent any delays in future payments or project.
• Underspends are not automatically carried forward. It must be discussed
beforehand with your Account Manager.
• You must provide a business case and revised budget template clearly
explaining how you intend to spend the remaining funds.
• Your next payment may be pro-rated accordingly i.e. a 3 year project may
slip into a 4th financial year, or we may consider that you require less funding
in the subsequent year.

6. 6
Financial Monitoring
• Communications/Digital activities are restricted and any changes in
expenditure against these categories may require additional approvals.
• Capital expenditure is to be restricted to under £5,000 (unless agreed by your
Account Manager).
• Indirect costs to be clearly identifiable i.e. rents, rates etc. They should be
reasonable and in line with your original budget.
• Effective management of your budget. We do not give extra funding for
overspends.
• If you have any significant changes to the project plan we will require a
revised budget plan.

7. 7
Financial Monitoring - Accounts
• A copy of your most recent financial accounts to be submitted no later than six
months after your financial year ends.
• You must separately identify the grant as restricted funds in your full annual
accounts, audited, reported on by a reporting accountant or independently examined
in accordance with current legal requirements. You must provide one copy for the
Department.
• If your accounts do not separately identify your grant then you must provide a copy of
a statement of expenditure signed by a Trustee or Reporting Accountant.
• Any underspends must be highlighted within your accounts.
• As the funds are restricted you are not permitted to transfer any of the funds to other
activities or move the funding to unrestricted. This would ministerial approval.

8. 8
Example – How grants should be shown in Accounts
Balance at 1
April 2014 Income Expenditure Transfers
Balance at
March 2015
£ £ £ £ £
Restricted Funds
Grant A - 10,000 (10,000) - -
Grant B 25,000 15,500 (20,000) - 21,000
Department of
Health, Name of
Project - 50000 50000 - -

9. 9
Summary
• Payments are usually made bi-annually unless we have .
• Expenditure sheet must to be completed from April to March.
• Variances of £1,000 or more between budget and expenditure must be
clearly explained.
• Underspends are not automatically carried forward. It must be discussed
with your Account Manager.
• Financial Accounts must identify the grant as restricted funds

10. 9
Summary
• Payments are usually made bi-annually unless we have .
• Expenditure sheet must to be completed from April to March.
• Variances of £1,000 or more between budget and expenditure must be
clearly explained.
• Underspends are not automatically carried forward. It must be discussed
with your Account Manager.
• Financial Accounts must identify the grant as restricted funds