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Financial Activities Report

This report outlines the financial status of the IEEE as presented by Treasurer Xiaoping Yun and VP for Finance Tony Maciejewski. Key topics include the assessment of the 2006 budget, the impact of initiatives, and a summary of income and expenses. Highlights include a net surplus of $22 million from 2004, budget management strategies, membership and non-member rates for various publications, and planned financial initiatives for the upcoming budget cycle. Detailed financial data and historical insights are also presented.

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Financial Activities Report

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  1. Financial Activities Report Barcelona, Spain April 23, 2005Xiaoping Yun Treasurer Tony Maciejewski VP for Finance

  2. Outline • Financial Status – Xiaoping Yun • 2006 Budget – Tony Maciejewski • Financial Impact of Initiatives – Tony Maciejewski

  3. Summary of Income and Expenses(All numbers in $1,000)

  4. Summary of Income and Expenses(All numbers in $1,000)

  5. Periodicals Income and Exp Summary(All numbers in $1,000)

  6. Summary of Income and Expenses(All numbers in $1,000)

  7. Summary of Income and Expenses(All numbers in $1,000)

  8. Summary of Income and Expenses(All numbers in $1,000)

  9. Historical Financial Data(All numbers in $1,000)

  10. Historical Financial Datawith Book Broker/IEL Info(All numbers in $1,000)

  11. Impact of IEEE 2004 Finances on 2006 Budget • IEEE 2004 Net Surplus of $22M • $12M operational surplus • $10M market fluctuation • 2004 reserves of $124.5M • Society budgets must be break even or better • Excludes market fluctuation • Excludes up to 3% of reserves for initiatives

  12. 2006 Publication Rate Principles • Member rates - recover incremental costs • Student rates - 1/2 of regular member rates • Non-member rates - 2/3 of market value • Page counts based on quality/service

  13. 2006 Magazine Rates • Keep membership rates same as 2005 • Regular - $21 – incremental cost $16.9 in 2004 • Student - $11 • Non-member rates at IEEE suggested rates • $315 (up 10% from $285 in 2005) • Increase page count 12% to 360 from 320

  14. 2006 Trans. Robotics Rates • Keep membership rates same as 2005 • Print - $19 ($10) – incremental cost $17.8 in 2004 • Electronic - $15 ($8) • Combo - $21 ($11) • Non-member rates at IEEE suggested rates • $660 (up 12% from $590 in 2005) • Increase page count 20% to 1291 from 1076 • Plan to print 1291 in 2005

  15. 2006 Trans. Automation Science & Engineering Rates • Keep the membership rates the same as 2005 • Print - $15 ($8) - incremental cost $14.2 in 2004 • Electronic - $10 ($5) • Combo - $17 ($9) • TASE with TRO – 25% discount on combination, same as 2005 • Print - $25 ($13) • Electronic - $18 ($9) • Combo - $29 ($15) • Non-member rates at IEEE suggested rates • $385 (up 4% from $370 in 2005) • Increase page count 3.8% to 440 from 424

  16. Publications Motions for 2006 Budget • Approval of 2006 rates for all publications • Rollover of TRO Manuscript Central budget - $19K • Increase in Magazine budget - extra $3K for electronic management system (Papercept) and extra $4.4K for travel ($14.5K total in Magazine editorial budget)

  17. Additional Motions for 2006 Budget • Increase in Conference Board budget from $13K to $15K • Award for Technology Transfer and Commercialization - $1K • Young Professional Lunch $5K per year

  18. Types of Initiatives • Society Internal Initiatives • Less than $50K (else requires TAB approval) • Total less than 3% of Society reserves ($100K) • Forecasting Initiative • Not within original budget but can be implemented if forecast is favorable • TAB Initiatives • IEEE Initiatives (abstract due April 25)

  19. Conditional Approval of Initiative Proposals • Initiatives for 2006 must be included in Society budget given to TAB on May 6 • Conditional Approval • Approve concept of proposal • Address questions from FinCom • Full proposal circulated to AdCom in next three months • Budget approved by AdCom at fall meeting

  20. Conditionally Approved Initiative Proposals • Industrial Activities Board • Robotics Technology Roadmap - $25K (2 yrs) • Standards Initiative - $20K (2 yrs) • Conference software development - $10K • Electronic Services - $105K (3 yrs)

  21. Financial Impact of Approved Initiatives • Industrial Activities Board • Innovation and Entrepreneurship Forum - $12.25K, $7.25K (2 yrs) • Technical Activities Board • Make $500 available to each technical committee for web presence - $30K (3 yrs) • IEEE EAB tutorials CD (XELL) - $20K (forecast initiative)

  22. Award for Technical Transfer and Commercialization • Good visibility of RAS conferences to industry. An incentive for industry to participate in RAS conferences. • Nominated papers must have been presented at RAS sponsored/cosponsored conferences. • Nominated commercial products must be based on papers presented at RAS sponsored/cosponsored conferences. • Authors of paper that presented the first idea and of the paper that described the final product will be awarded based on the committee’s selection. • Boards involved: Membership, Industry, Technical, Conference

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