Treasurer s report aylin yener
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Treasurer’s Report: Aylin Yener. Presented at the BoG meeting, ISIT 2013, Istanbul Jul y 7 , 2013. Outline. Conference Closings 2013 budget and final 2012 budget numbers Initiatives 2014 b udget House keeping: Reimbursements. Conference Closing Guidelines.

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Treasurer’s Report: Aylin Yener

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Treasurer s report aylin yener

Treasurer’s Report:Aylin Yener

Presented at the BoG meeting, ISIT 2013, Istanbul

July 7, 2013


Outline

Outline

  • Conference Closings

  • 2013 budget and final2012 budget numbers

  • Initiatives

  • 2014 budget

  • House keeping: Reimbursements


Conference closing guidelines

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 ([email protected]) is our analyst.

    • 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

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 isworking to resolve the issuewith the organizers.


2013 budget

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.


2012 numbers as of feb 2013

2012 numbers as of Feb 2013


2013 numbers

2013 numbers


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.


Initiatives1

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.


Treasurer s report aylin yener

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

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 [email protected] with a cc to Aylin.

  • 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.


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