Exam project budget
Budget for your MFA/BFA exhibition
For your exam project the school contributes a sum of money.
For BFA students the sum is 5 000 SEK + Swedish VAT
= 6 250 SEK if you have costs with deductable VAT (moms).
For MFA students the sum is 10 000 SEK + Swedish VAT
= 12 500 SEK if you have costs with deductable VAT (moms).
Regarding the VAT it doesn’t matter if the school pays via an invoice or if you pay
yourself and get reimbursed later, when handing in your receipt. It is only when you
shop outside of Sweden that the VAT is not deductable and then it is the sums
5 000 SEK and 10 000 SEK that are relevant.
How to use the money
To avoid having to spend your own money you should preferably shop with a requisition: When you know what to buy and where you go to Lotta and get a requisition. Then the company where you shop will send an invoice directly to the school.
You can also pay yourself and get reimbursed later on when you hand in the receipt: If you make smaller purchases and/or at companies that do not accept requisitions or send invoices you can pay with your own money, cash or card, and afterwards be reimbursed by the school by handing in your receipt. The school can only reimburse you if the receipt is complete, that is that the following facts are stated on the receipt:
- The company name
- Date of purchase
And if Swedish receipts:
- The company’s VAT number
- The VAT specified
Normally the money will be transferred to your bank account. You need to supply the name of your bank, the clearing number and your account number. If it isn’t a Swedish bank account you need to supply the name of the bank, the BIC/SWIFT code and the IBAN number of your account.
What you can use the money for
It is possible to use the budget to buy prints and material in the school shop. Inform the staff that it is your exam budget you are using.
It is OK to rent equipment. If you buy equipment it belongs to the school. Check with the technicians before buying any equipment.
It is costly to employ someone because on the fee you must also pay social costs and the one you engage must pay tax on the money earned.
Travel costs are only covered if you can show that they have a crucial importance to your project.
The money is not intended for food and drinks, such as drinks for the opening. Lotta handles questions and matters regarding the exam budget. Don’t hesitate to contact her if you have any questions!