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CPMT Treasurer’s Report 16 September 2000

CPMT Treasurer’s Report 16 September 2000. 2000 Year to Date Financial Results Year 2001 Budget CPMT Travel Support Policy Year 2002 Budget Planning IEEE Financial Issues. 2000 YTD Financial Results. See separate spreadsheet of actuals vs. budget

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CPMT Treasurer’s Report 16 September 2000

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  1. CPMT Treasurer’s Report16 September 2000 2000 Year to Date Financial Results Year 2001 Budget CPMT Travel Support Policy Year 2002 Budget Planning IEEE Financial Issues

  2. 2000 YTD Financial Results See separate spreadsheet of actuals vs. budget • Overall YTD surplus is $138K, vs. $76K budget • Packaging Fellowship expenditures YTD = 0 • Transactions YTD net looks okay • CPT net is $32.9K low, but offset by AP and EPM • Conferences YTD net is cause for concern • Many Committees are spending less than budget

  3. 2000 YTD Financial Results (2) 2000 Budget YTD BudgetYTD ActualYTD Variance Publications Revenue $667.2K $523.0K $548.9K $ 25.9K Publications Expense 317.5K 161.8K 185.2K< 23.4K> Publications Net $349.7K $361.2K $363.7K <$ 2.5K> Conferences Revenue $600.0K $354.1K $146.7K <$207.4K> Conferences Expense 365.0K 243.3K 143.3K<100.0K> Conferences Net $235.0K $110.8K $ 3.4K <$107.4K> Conference financials are difficult to forecast and track • Conference surplus or deficit is accounted when the conference closes • Accounts are adjusted later for total revenue and expense figures • Book Broker Program revenue (~$70K in 2000) is credited at year end • Much of our surplus comes from ECTC, which has not hit the books yet this year • Some change of forecasting and tracking method will be considered

  4. 2000 YTD Financial Results (3) 2000 Budget YTD BudgetYTD ActualYTD Variance “Underspending” Committees and Initiatives Expense Budgets: Chapter Comm. 48.5K 32.1K 10.6K < 21.5K (67%)> Distngsed Lecturer 20.0K 13.2K 7.3K < 5.9K (45%)> Technical Comm. 22.0K 14.4K 0.6K < 13.8K (96%)> Membership Comm 39.4K 26.2K 5.3K < 20.9K (80%)> Graduate Fellowships 40.0K 26.4K 0 < 26.4K (100%)> Web Development 15.0K 10.0K 0 < 10.0K (100%)> 50th Anniv. History 15.0K 10.0K 0.3K < 9.7K (97%)> 50th Anniv. Commem. 22.0K 21.2K 4.0K < 17.2K (81%)> • The yearly budget is our operating plan for the year. • Underspending usually means underperforming. Archival CD ROM $65.0K $65.0K $74.2K $ 9.2K (14%) CD ROM Sales 0 0 7.8K 7.8K

  5. 2000 YTD Financial Results Summary • YTD income from conferences is a concern, but not necessarily cause for alarm • In general, no Committees are overspent YTD • Several committees and projects are underspending • Potential negative financial impacts • Hire this year of full-time administrator • Approved BoG travel in excess of budget • Costs of Asia delegations

  6. 2000 YTD Financial ResultsAdditional Information • July YTD Investment Fund return 1.89% • vs. <0.44%> for strategic asset allocation index. • To be accounted this year, 2000 expenses need to be to Marsha by mid-December.

  7. 2001 CPMT Budget • See separate spreadsheet • $1.66M budget; $41.0K deficit • Adds full time administrator at IEEE • Funds strategic programs • Increases available BoG travel support • Does not reflect potential “hit” from IEEE Infrastructure and Institute-level deficits • Does not include interest or investment earnings

  8. CPMT 2001 Initiatives • Full-time administrator at IEEE $72K • Increased BoG Travel Support + $40K • Graduate Fellowship additional year $40K • Web-based courses development $30K • Marketing $15K • Industry Support Programs $10K • Student Programs $10K • IEEE Packaging Award initial expense $ 9K • Reprint CPMT Brochure $ 8K • Newsletter Upgrade $ 3K $ 237K

  9. CPMT Travel Support Policy • Travel support to attend BoG Meetings: • Voting members of the BoG and Strategic Program Directors only, not to exceed $2K to attend BoG meetings ($3K if intercontinental). • No other BoG travel support • Travel support for other purposes: • Identified in budget, amount and purpose • Otherwise, by approved of VP/Pres + Treasurer

  10. Year 2002 Budget Planning • February 2001 BoG Meeting: • Approve all proposed 2002 initiatives • Approve input parameters: fees, page counts, etc. • Submit all requests for 2002 budget • CPMT Finance Committee will develop budget • First pass budget due to IEEE early May • CPMT BoG Ballot in April • Second pass (“Final”) budget due early August • CPMT BoG Ballot in July

  11. IEEE Financial Issues • Infrastructure/Institute-level deficit issues are not resolved • No report on New Financial Model effort • Potential reduction of CPMT reserves if nothing changes: $183K in 2000, $298K in 2001 • Policy and Procedure Manual changes: • Method for approving and budgeting new initiatives • Mandatory Concentration Banking • Centralized contracts authority

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