What is a cost and financing plan?

A cost and financing plan is a chart breakdown of how funds are likely to be used. The plan is typically split into cost categories, i.e. material costs (materials, travel expenses [including accommodation], rentals, etc.), and personnel costs (student assistants, work contracts, etc.), which are not covered by the »Demokratie stärken« fund. If the project receives funding from additional sources (e.g. personal resources), this should be documented in a separate column. If funding is used for purposes other than those originally specified in the plan, this must be approved by the responsible supervisor (Finance Department, provisionally) in advance. The cost and financing plan helps plan the project and to continually monitor outgoing and incoming funds. Once the project ends, it also serves as proof of how funds were spent.