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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

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 (e.lyman@ieee.org) 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.
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.
slide11
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 v.howland@ieee.org 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.