16 Annual Report 2024 Financial Report Financial Report The 2024 financial year was planned on the assumption of persisting Third Country status in Horizon Europe, the renewal of Euresearch’s participation in EU NCP projects, and the conclusion of the internal digitalisation project. The year concluded with an overall balance of CHF 207 355. This resulted from the combination of underspending in the “Association” and “Horizon Europe” funding lines, and overspending in the “EU Project Participation” funding line. Horizon Europe SERI’s stable funding is essential for main- taining a long-term, robust and high-quality support system that assists researchers and innovators to participate in Horizon Europe. 2024 was the first year under the 2024-2027 SERI subsidy contract. From the first payment of the subsidy contract (CHF 6 461 200), CHF 6 238 500 was budgeted for 2024, at the same level as for 2023. Personnel costs dominated expenditure, with CHF 3 280 501 in the Regional Offices (Kooperationsaufwände) and CHF 2 360 907 in the Network Office, in line with the budgeted value of CHF 5 720 275. The Network Office had an underspending of CHF 121964 resulting from a combination of underspending in direct personnel costs, due to the reorganisation of the NCP sections and the vacancies in NCP positions, and overspending in indirect personnel costs due to the IT projects. The latter was due to the Network Office making the strategic decision to insource several IT project activities rather than outsource them. Overall, this resulted in lower costs than expected. The operational costs were CHF 354504, which was CHF 128 211 below budget. This discrepancy was due to lower costs in IT projects (see above), office infrastructure, and events, either because the latter were held online or did not take place. 7. Horizon Europe: Distribution of SERI Funds Joint Expenses 4.8% Network O ce 42.5% Regional O ces 52.7%
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