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IEEE Sensors VP Finances Report Chris Schober November 2, 2005

This report discusses the removal of IEEE Sensors Council from the Watch List due to consecutive surplus years and adequate reserves. It includes financial highlights, conference budgets, and summary of the council's financial status.

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IEEE Sensors VP Finances Report Chris Schober November 2, 2005

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  1. IEEE Sensors VP Finances Report Chris SchoberNovember 2, 2005 IEEE Sensor Council

  2. IEEE Sensors OFF the WATCH LIST Chris SchoberNovember 2, 2005 IEEE Sensor Council

  3. Off the Watch list From: s.nadler@ieee.org [mailto:s.nadler@ieee.org] Sent: Tuesday, November 01, 2005 11:13 AMTo: t.weiner@ieee.org; rtbannon@ieee.org; c.schober@computer.orgCc: k.gilbert@ieee.org; d.hurley@ieee.org; j.rehberg@ieee.org; s.nadler@ieee.org; h.flescher@ieee.orgSubject: Sensors Council removal from the Watch List Society Officers, After considerable discussion of the 2005 Watch List at the October 25, 2005 TAB Finance Committee meeting, the following recommendation was made: That the following Societies be removed from the 2005 Watch List as a result of having 2 consecutive surplus years in a 3 year window and having adequate reserves. Note: Watch List removal is contingent on actual 2005 Society/Council forecast being met. • Consumer Electronics • Sensors Council For your information, attached is your Society's financial highlights. As mentioned above, removal from the Watch List is dependent upon your Society's 2005 forecast, which at minimum, must return a positive bottom line. There is no need to attend the November TAB Finance Committee meeting at this time. Please do not hesitate to contact me should you have any questions. (See attached file: Watch List Financial Highlights - Sensors - October'05.xls) Sharon Nadler Manager, Finance & Administration TAB IEEE Sensor Council

  4. Balance sheet reserves per TAB IEEE Sensor Council

  5. Sensors Council Report toTAB Finance CommitteeFebruary 18, 2005 Christina Schober VP Finances Bob Bannon Treasurer/ Secretary IEEE Sensor Council

  6. Reserves vs. ½ Expenses Update 11/05 ‘04 Reserves $379 1/2 Expenses $433/2 = $217k IEEE Sensor Council

  7. Reserves Update 11/05 2004 Reserves $379 • Initially 26 Societies contributed $2K each = $52k in 1999 • TAB loan of $100k in 2000 • 2002 paid back $100k TAB loan ($45.5k after taxes) • Reserves at $284k IEEE Sensor Council

  8. Cost Center Nets 2005 Conf Budget +$62k over plan 2006 Conf Budget planning for $110k surplus ($57k over plan) IEEE Sensor Council

  9. Conference Budgets Update 11/05 2004 Conf $145k profit 2002 Orlando Florida 2002 Conf loss -$59.9k *audited 2003 Toronto Canada 2003 Conference loss -$43.6k US * audited 2003 Hotel Attrition payoff –29.1k US 2004 Vienna Austria 2004 Conference gain +42.8k US ** current estimate 2005 Irvine Calif 2005 Conference gain +101k US *** Submitted most likely budget (31% surplus) 39Budget dated 1-13-05 predicts +$39k 2002 Conf Proceedings Income +$69.3k 2003 Conf Proceedings Income +111.5k 2004 Conf Proceedings Income +51k Budget 2005 Conf Pub Income budget $58k 2006 Conf Pub Income budget $59.7k 2007 Conf Pub Income budget $61.5k Update 11/05 2004 Conf Proceedings Income $114k IEEE Sensor Council

  10. Conferences • 2002 in Orlando, Florida • 2003 in Toronto, Canada • 2004 in Vienna, Austria • 2005 in Irvine, California • 2006 Gyeongju, Korea • 2008 Atlanta, Georgia or Troy, NY • 2009 Leece, Italy or Athens, Greece • 2010 Sydney, Australia or Beijing, China 11/05 update ’08 Atlanta, Georgia ’09 Leece, Italy ’10 Sydney, Australia IEEE Sensor Council

  11. Conference Budgets Update 11/05 2004 Conf $145k profit ‘05 Conf Proceedings Income $114k ‘06 $106k most likely, $30k pessimistic IEEE Sensor Council

  12. Summary • Reserves strong • Net positive budget planned for 2006 • Addressed Conference and Journal problems IEEE Sensor Council

  13. IEEE Sensors Conference Summary Chris SchoberNovember 3rd, 2005 IEEE Sensor Council

  14. Conf Registration #’s IEEE Sensor Council

  15. Conference Summary IEEE Sensor Council

  16. Conference Financial Audit report summaries 2002 Orlando 2002 Conf loss -$59.9k 2003 Toronto 2003 Conference loss -$43.6k US 2003 Hotel Attrition payoff –29.1k US ($40k CAD) not included in audit document liability was $99.2k US ($124.1k CAD) IEEE Sensor Council

  17. Conference Financial Audit report summaries 2004 Vienna Pre-audit submittal numbers 2004 Conf profit +$146k (transfer exchange rate .87 Euro to US) Note: Transfer of profits earlier to US account could have increased profit significantly because of exchange rate change. 2005 Irvine Budget numbers 2005 Conference budget $101k (based on 650 pd attendees, 120 pd tutorial) IEEE Sensor Council

  18. Sensors Conference 2004Budget preliminary $145k US – pre-audit submittal # • Includes returning $15k Seed money to Sensors Council. • Two bank accounts set up one US, one Austria. Only US received seed money (in Oct). • Multiple donations from Vienna University (meeting rooms etc) • Food & Beverages provided at lower rate from University services • Donation of city of ½ banquet costs • No exposure to hotel attrition, room block or food & bev • No proceeding sales to date IEEE Sensor Council

  19. Sensor CouncilNov 2005 update reserve vs. ½ expense IEEE Sensor Council

  20. The End IEEE Sensor Council

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