1. Financial Management January 2011

2. Where does the money come from? Section Rebate Program Region Assistance Society Assistance for Chapters Conference Income Donations

3. Section Rebate Program 2011 $2000 Flat Fee PLUS: –$3 per Member, Student or Associate –$1.50 per Affiliate –$4 per Senior Members and Fellows –$200 / eligible Chapter & Affinity Group –$500 / subsection –10% bonus for reporting on time (Feb18, 2011) –Additional bonuses for high activity! (10 section meetings = $200, 6 society meetings = $75) Unit and subunits must comply with activity and reporting requirements

4. Improve your rebate! Encourage members to apply for senior membership (note: new senior members get a IEEE $25 certificate) Hold many meetings. Encourage increasing membership – even students http://www.ieee.org/societies_communities/geo_activities /required_reporting/rebate_schedule.htmlhttp://www.ieee.org/societies_communities/geo_activities /required_reporting/rebate_schedule.html

5. Region Assistance Section Support Via Regions (SSVR) –Funds set aside by MGA each year –To be used at the discretion of the Region Director ($6150 in 2010) Great source for funding special projects, initiatives

6. Society Assistance For Chapters Each Society has its own program –for example, PES has a High Performing Chapter Grant Program Refer to Society Chapter Funding Guide for more information –http://www.ieee.org/about/volunteers/tab/soci ety_chapter_funding_guide.htmlhttp://www.ieee.org/about/volunteers/tab/soci ety_chapter_funding_guide.html

7. Conference Income Sponsorship opportunities with Societies, Sections, other Chapters See Technical Activities Conferences web page for more information: –http://www.ieee.org/conferences_events/conf erences/organizers/index.htmlhttp://www.ieee.org/conferences_events/conf erences/organizers/index.html

8. Donations IEEE Policy permits Sections and Chapters to accept donations for activities of scientific or technical nature “Solicitation” must be approved in advance by IEEE Executive Committee

9. Donations For more information on IEEE policies relating to contributions, grants, and the IEEE Foundation, contact IEEE Development Office staff: –supportieee@ieee.org –http://www.ieee.org/organizations/foundation/http://www.ieee.org/organizations/foundation/

10. How is the money used? IEEE-sponsored activities: –Chapter and Affinity Group Support –Newsletters (1 a year via snail mail required) –Student Branch Support –Distinguished Lecturers –Technical, administrative & social meetings –Recognition supplies (banners, plaques, pins, certificates)

11. Where is the money kept? Unit Bank accounts: –Should be opened in the name of IEEE _______ Section or Chapter –Signature of Staff Director - Financial Services on bank account –Concentration Banking Program Pays 6 month CD rate, no fees Local unit retains complete control of assets Debit card also available

12. How/what do we report to IEEE? Annual Financial Report (L-50) –Section submits for all units...including Subsections, Chapters and Affinity Groups –Accounts for all financial activity …expenses and revenue, including investments

13. How/what do we report to IEEE? Annual Financial Report (L-50) –Can be submitted in hard copy or using Excel spreadsheet http://www.ieee.org/societies_communities/geo_a ctivities/required_reporting/L50.htmlhttp://www.ieee.org/societies_communities/geo_a ctivities/required_reporting/L50.html Click on “Required Reporting” –L-50 Questions? financial-report@ieee.org

14. Contract Administration All contracts with a stated or expected value at or above $25,000...negotiated & approved locally, executed (signed) at the Operations Center after review by subject matter experts Contracts $5,000 to $25,000...executed (signed) locally with a copy sent to IEEE Procurement Department

15. Contract Administration Review by subject matter experts: –Staff, Legal, Volunteers (as appropriate) Legal review is at no cost to initiating unit Contract database for historical references Contacts: http://www.ieee.org/membership_services/services/fina ncial/contracts/index.html contracts@ieee.org

16. Insurance Commercial General Liability Fidelity Bonding Volunteer Travel/Accident Medical Plan

17. Liability Insurance Coverage is extended to IEEE’s Organizational Units, and its sponsored activities -- Region/Section/Chapter meetings, conferences Provides coverage in the event of liability due to bodily injury, personal injury, or damage to the property of others…for instance, leased property such as computers and AV equipment

18. Liability Insurance Volunteers are included as additional insured parties -- while acting within the scope of their duly authorized duties Insurance carrier has the duty to defend IEEE (and its Volunteers) in the event of a liability suit…IEEE Insurance Office should be notified immediately in the event of a lawsuit

19. Volunteer Travel Accident / Medical Plan Effective 1 January 2001 IEEE implemented a plan to provide IEEE Volunteers with medical coverage in the event an individual requires immediate medical attention while on authorized IEEE travel outside of the individual’s home country Does not apply to travel to and from a conference …unless the travel is for authorized IEEE business https://www.ieee.org/membership_services/membership /services/global_travel.htmlhttps://www.ieee.org/membership_services/membership /services/global_travel.html

20. Assistance is Available IEEE Treasurers’ Handbook –http://www.ieee.org/documents/finopsmanual. pdfhttp://www.ieee.org/documents/finopsmanual. pdf –http://www.ieee.org/societies_communities/ge o_activities/public_relations/gen_info.htmlhttp://www.ieee.org/societies_communities/ge o_activities/public_relations/gen_info.html IEEE Bylaws & Policies –http://www.ieee.org/documents/constitution_b ylaws_policies.pdfhttp://www.ieee.org/documents/constitution_b ylaws_policies.pdf

21. Assistance is Available IEEE Staff Contacts –L-50 preparation & Rebates help: financial-report@ieee.org financial-report@ieee.org –Concentration Banking help: concentration-banking@ieee.org concentration-banking@ieee.org –CB Card (debit card): cbcard@ieee.org cbcard@ieee.org –Insurance: Tom Lynch (t.lynch@ieee.org)

22. Required Reporting

23. All geographic units must report their officers, financial activity, and meeting activity annually to the IEEE Operations Center in Piscataway All activity should be reported through the Section, including that of Subsections, Chapters and Affinity Groups 10% bonus if all reporting postmarked no later than end of third week in February

24. Required Reporting, p.2 Report forms are sent out Nov/Dec Officer & meeting report forms sent to Secretary Financial forms (L-50) sent to Treasurer Also available on web: –http://www.ieee.org/societies_communities/ge o_activities/required_reporting/L50.htmlhttp://www.ieee.org/societies_communities/ge o_activities/required_reporting/L50.html

25. Financial Report (L-50) Responsibility of Section Treasurer Two ways to submit: –Include all unit & subunit data –Provide separate L-50s for each unit & subunit (prefer former!) Available in hard copy, or as Excel spreadsheet Questions? –financial-report@ieee.orgfinancial-report@ieee.org

26. Officer Confirmation Responsibility of Section Secretary Include all officers: Committees, Chapters, Affinity Groups Include member #s for verification Officers must be in good standing and Members Chapter Chairs must be a member of the Society http://www.ieee.org/societies_communities/geo_activities /required_reporting/officer_forms.htmlhttp://www.ieee.org/societies_communities/geo_activities /required_reporting/officer_forms.html

27. Meeting Reports Responsibility of Secretary L-31 online form vTools –Sections - 5 mtgs. (can include Chapter mtgs., ExCom mtgs.) –Subsection - 5 mtgs. (as Section) –Chapters - 2 technical mtgs. –Affinity Groups - 2 mtgs. –http://www.ieee.org/societies_communities/ge o_activities/required_reporting/meeting_form. htmlhttp://www.ieee.org/societies_communities/ge o_activities/required_reporting/meeting_form. html

28. Wrap-up Money is available, mostly from rebates. You must report meetings. You must report new officers. You must submit the L-50 report. Your rebate is larger if you are more active and you submit reports early.