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Work
Package 03

Administration and Finances Strategy and Management

Objectives
To establish and implement the management strategy and procedures of the CoE, assuring the compliance with all legal and regulatory requirements, and promoting best practice in all activities and processes, in the context of long-term financial sustainability (see WP9).
Tasks
3.1
3.1. Administration and Finances Strategy and Procedures
The initial administration and finances management will be carried out by the IC (T1.1), with technical support from staff of ICETA and PBS. Responsibilities will be handed over from ICETA to the BoD and BIOPOLIS CoE staff, once the formal procedures for transferring the coordination of the project are successfully completed (T1.2). The executive responsibilities of administration and finances will be attributed to one AD, who will be responsible for coordinating the preparation of the Administration and Finances Strategy and Procedures Manual. The Strategy and Procedures will be implemented daily by the Administration and Finances Unit (A&FU), under the coordination of the Head of Unit. Among other tasks, this Unit will work under the supervision of the BoD for preparing the annual budget, and the annual financial statements that will be included in the annual reports. The Annual Budget and Financial Statements will be prepared by the BoD and approved by the SB and the GA.
3.2
3.2. Treasury Management
This Task will implement the CoE’s treasury management. The procedures of ICETA will be followed until the Administration and Finances Strategy and Procedures Manual of BIOPOLIS CoE is prepared and approved. Treasury management will be carried out under direct supervision of one AD, and will be implemented daily by dedicated officers of the Administration and Finances Unit. The treasury management activities will mainly include the management of flows and banking, and the effective control of the risks associated with those activities.
3.3
3.3. Financial Monitoring and Reporting
This Task develops the monitoring plan and financial reporting of the CoE’s activities. Monitoring will be done for all activities involving financial resources and the follow up of the CoE’s financial performance against its budget. The main objective of the follow up plan is to evaluate any deviation from the CoE’s results against the approved budget and to support decision-making, providing the BoD with relevant information so that they are more responsible for performance.
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