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CPMT Treasurer’s Report 10 February 2001

CPMT Treasurer’s Report 10 February 2001. 2000 Preliminary Financial Results Year 2001 Budget CPMT Travel Support Policy Year 2002 Budget Planning IEEE Financial Issues. 2000 Financial Results (Preliminary, Pro Forma). See separate spreadsheet. Description Actual Budget

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CPMT Treasurer’s Report 10 February 2001

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  1. CPMT Treasurer’s Report10 February 2001 2000 Preliminary Financial Results Year 2001 Budget CPMT Travel Support Policy Year 2002 Budget Planning IEEE Financial Issues

  2. 2000 Financial Results(Preliminary, Pro Forma) See separate spreadsheet. DescriptionActualBudget Net surplus from Transactions $344K $350K Net surplus from Conferences 276K 235K Interest earnings 20K 80K IEEE/TAB charges 78K 69K Executive Office expense 149K 149K BoG and OpCom meetings expense 36K 35K Committees, etc. expenses 134K 268K Total net surplus 189K 90K

  3. 2000 YTD Financial Results (2) 2000 Budget2000 ActualVariance “Underspending” Committees and Initiatives Expense Budgets: Transactions CD ROM 65.0K 74.2K < 9.2K (14%) > Meetings & Conferences V.P. 9.0K 1.9K 7.1K (78%) Chapter Comm. 48.5K 22.9K 25.6K (47%) Distngsed Lecturer 20.0K 13.3K 6.7K (34%) Technical Comm. 22.0K 2.8K 13.8K (87%) Membership Comm 39.4K 9.5K 29.9K (76%) Web Development 15.0K 0 K 15.0K (100%) 50th Anniv. Commem. 22.0K 9.6K 12.4K (56%) Far East Delegations 0 15.0K < 15.0K > The yearly budget is our operating plan for the year. Underspending usually means underperforming. Or that we didn’t plan well.

  4. 2001 CPMT Budget • See separate spreadsheet • $1.62M budget; $7.4K surplus • 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 long term investment earnings

  5. 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

  6. 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) • Clarify eligibility of members with limited vote • No other BoG travel support • Travel support for other purposes: • Identified in budget, amount and purpose • Otherwise, by approved of VP/Pres + Treasurer

  7. Year 2002 Budget Planning(September 2000 BoG slide, except as modified) • 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 April • CPMT BoG Ballot in April March • Second pass (“Final”) budget due early August • CPMT BoG Ballot in July

  8. Year 2002 Budgeting Process • Approve “Input Parameters” at this meeting • CPMT Finance Committee will evaluate requests and formulate a budget proposal • Evaluation will be “ROI”, i.e. Cost vs. Benefit • Benefits need to be identified with the request • Requests will be selected for merit vs. affordability • Benefit realization as well as expenditures will be tracked for accountability and future planning

  9. 2002 Budget Requests • Inputs were requested for this meeting • See separate spreadsheet for requests to date • Only one initiative: IEEE Field Level Award • $9K start-up costs + $210K endowment • $367K deficit, even without requests from several committees • Requests and justification needed by 2/26/01 • Specific proposals; not “placeholders”

  10. 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 • However, IEEE BoD is exercising budget restraint • Policy and Procedure Manual changes: • Policy Manual implemented Initiatives controls, Concentration Banking, centralized contracting • (Details) Procedures Manual is still in work

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