Presentation on theme: "Treasurer’s Report: Aylin Yener Presented at the BoG meeting, ISIT 2013, Istanbul July 7, 2013."— Presentation transcript:
Treasurer’s Report: Aylin Yener Presented at the BoG meeting, ISIT 2013, Istanbul July 7, 2013
Outline Conference Closings 2013 budget and final 2012 budget numbers Initiatives 2014 budget House keeping: Reimbursements
Conference Closing Guidelines Conference Closings is a process that involves IEEE conference services. This involves submitting documentation, closing of the bank accounts, transferring the surplus to our budget and the audit. Erin Lyman (firstname.lastname@example.org) is our email@example.com Organizers need to be responsive to the analyst. Timeline: 3 months after the conference concludes, max within one year. We receive financial fines after 1 year (twice in 2012-both reversed with some effort).
Current Status Update: the closing process for ISITs, ITWs, and Schools are within the timelines IEEE suggests, and are now being completed swiftly without problems. Healthy surplus reported in all of them, e.g. ISIT’12. 2011 ITW is still not closed Surplus: $22,892 (partially in possession) Closing process started 8/12 For tax reasons, part of the surplus needed to be transferred to IEEE South Brazil Section, documentation on that is needed. This money needs to be transferred to the IEEE-USA account in order for the society to receive it. Erin is working to resolve the issue with the organizers.
2013 Budget Budget as finalized in November 2012 was predicting 159k surplus. As of May 2013, the predicted end-of-year surplus is 120k This is likely because we have not yet received most of the revenue due during the year. This should not deter us from our goal of taking new initiatives. We can spend up to 50% of the amount of our operational surplus from 2012 ($219k) on initiatives.
Initiatives 50% spending rule gives us the opportunity to take on initiatives. We have 120k-160k expected surplus. We have upto~109k to spend on initiatives. We have just implemented a page budget increase (per Helmut’s request) to add about $50k to the expenses. This leaves about $70k-$110k for initiatives.
Initiatives Initiatives <$50k: no need for IEEE “approval” First initiative (already approved): Student Committee Video Contest and Lunch with Shannon Award Winner Other expected initiatives: Online Committee initiative, WITHITS video interviews, new schools. We need to let IEEE know by July 12.
2014 Print subscription fees have been increased to $80 for non-IT IEEE members and $105 for non-IEEE members (student rates at %50). IEEE has changed the “algorithm” for publication revenues. As a result, we have been presented with a budget that is projecting in the negative (- 35k).
Reimbursement of expenses For committee chairs and officers. Please (pretty please): submit expenses within one-month of occurrence. e-mail all scanned receipts with the “Expense Form” to Valerie Howland firstname.lastname@example.org with a cc to Aylin.email@example.com remember to include the list of attendees for meal reimbursements. Distinguished lecturers follow the same exact procedure above. M&C committee chair (Michelle): please communicate that we have $2k/visit “guideline” to DLs.