Treasurer’s Report:Aylin Yener

Presented at the BoG meeting, ISIT 2013, Istanbul

July 7, 2013

OutlineConference Closings

2013 budget and final 2012 budget numbers

Initiatives

2014 budget

House keeping: Reimbursements

Conference Closing GuidelinesConference 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 StatusUpdate: 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 closedSurplus: $22,892 (partially in possession)Closing process started 8/12For 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 is working to resolve the issue with the organizers.

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.

2013 IEEE S/C BUDGETFOR THE PERIOD ENDING DECEMBER 31, 2013

{EDIT-PASTE-SPECIAL ;"VALUES"}

Bus Unit - 0120 {SET "WORKSHEET-TAB-COLOR";14}~SUMMARY BY COST CENTER 2006 2007 2008 2009 2010 2011 2012 2013{HOME}{SELECT A1..E1;A1}{SHOW-COLUMNS}~{DOWN 8}~ACTUALS ACTUALS ACTUALS ACTUALS ACTUALS ACTUALS BUDGET BUDGET

00100 INTEREST INCOME 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.000420 TRANS ON INFORMATION THEORY 994.0 1,253.4 1,088.5 1,058.9 1,041.5 967.9 1,009.8 1,160.900421 INFORMATION THEORY FEES 82.3 80.9 81.3 79.6 80.9 80.0 69.4 69.400422 ITS CONFERENCE DIGITAL LIBRARY 0.0 0.0 1.1 0.1 0.1 0.1 0.0 0.001499 PERIODICAL RELATED - OTHER 1.1 1.8 0.1 1.0 0.3 0.0 0.3 0.301500 NEWSLETTERS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.001600 NON PERIODICAL 0.2 0.1 0.0 0.0 0.1 0.5 0.0 0.001700 MEETINGS/CONFERENCES 1,174.3 1,076.0 822.9 1,394.5 959.7 1,053.5 841.4 871.301701 CONFERENCE RELATED - OTHER 10.7 0.0 0.0 0.0 0.0 0.4 0.0 0.001702 GRANTS 10.0 2.3 8.5 0.5 0.0 0.0 0.0 0.001800 ADMINISTRATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.001900 COMMITTEE & OTHER 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0TOTAL INCOME 2,272.6 2,414.4 2,002.3 2,534.5 2,082.6 2,102.7 1,921.0 2,102.0

00100 RMBSVC-INTEREST INCOME (151.3) (98.6) 1,234.8 (759.4) (203.9) 317.6 0.0 0.000420 TRANS ON INFORMATION THEORY 656.2 571.6 692.9 637.5 695.0 833.3 737.9 836.100421 INFORMATION THEORY FEES 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.000422 ITS CONFERENCE DIGITAL LIBRARY 0.0 5.0 6.5 7.8 7.7 8.2 9.4 7.801499 PERIODICAL RELATED - OTHER 4.9 3.2 2.4 2.4 1.9 5.0 3.2 3.001500 NEWSLETTERS 23.2 34.9 38.6 26.4 21.5 23.0 22.4 23.201600 NON PERIODICAL 6.8 4.1 6.7 6.9 7.2 6.0 6.6 9.201700 MEETINGS/CONFERENCES 844.9 699.3 526.7 965.9 643.7 768.5 537.6 533.001701 CONFERENCE RELATED - OTHER 2.9 2.1 5.4 2.3 1.1 1.1 1.1 1.101702 GRANTS 0.0 12.3 8.5 0.5 0.0 0.0 0.0 0.001800 ADMINISTRATION 262.8 376.7 255.4 308.1 336.0 374.2 406.6 408.401900 COMMITTEE & OTHER 56.2 70.0 117.0 85.9 79.6 54.8 111.5 120.8TOTAL EXPENSE/RMBSVC 1,706.6 1,680.5 2,894.8 1,284.4 1,589.9 2,391.7 1,836.3 1,942.6

TOTAL NET 566.0 733.8 (892.5) 1,250.1 492.7 (288.9) 84.7 159.4

PRIOR YEAR ACTUALS

2012 numbers as of Feb 20132012 INFORMATION THEORY

FOR THE PERIOD ENDING DECEMBER 31, 2012{EDIT-PASTE-SPECIAL ;"VALUES"}

Bus Unit - 0120 {SET "WORKSHEET-TAB-COLOR";14}~SUMMARY BY COST CENTER 2012 2012 2012{HOME}{SELECT A1..E1;A1}{SHOW-COLUMNS}~{DOWN 8}~PRELIM BUDGET VARIANCE

00100 INTEREST INCOME 00420 TRANS ON INFORMATION THEORY 1,116.3 1,009.8 106.400421 INFORMATION THEORY FEES 76.5 69.4 7.100422 ITS CONFERENCE DIGITAL LIBRARY 0.2 0.0 0.201499 PERIODICAL RELATED - OTHER 0.2 0.3 (0.1)01500 NEWSLETTERS 0.0 0.0 0.001600 NON PERIODICAL 0.4 0.0 0.401700 MEETINGS/CONFERENCES 912.0 841.4 70.601701 CONFERENCE RELATED - OTHER 0.0 0.0 0.001702 GRANTS 0.0 0.0 0.001800 ADMINISTRATION 0.0 0.0 0.001900 COMMITTEE & OTHER 0.0 0.0 0.0TOTAL INCOME 2,105.5 1,920.9 184.6

00100 RMBSVC-INTEREST INCOME 00420 TRANS ON INFORMATION THEORY 770.9 737.9 (33.0)00421 INFORMATION THEORY FEES 0.0 0.0 0.000422 ITS CONFERENCE DIGITAL LIBRARY 8.4 9.4 1.101499 PERIODICAL RELATED - OTHER 4.2 3.2 (1.0)01500 NEWSLETTERS 29.6 22.4 (7.2)01600 NON PERIODICAL 5.2 6.6 1.401700 MEETINGS/CONFERENCES 527.7 537.6 9.801701 CONFERENCE RELATED - OTHER 23.7 1.1 (22.5)01702 GRANTS 0.0 0.0 0.001800 ADMINISTRATION 397.5 406.6 9.001900 COMMITTEE & OTHER 118.7 111.5 (7.2)TOTAL EXPENSE/RMBSVC 1,886.0 1,836.3 (49.7)

TOTAL NET 219.5 84.6 134.9

2013 numbers

Initiatives50% 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.

InitiativesInitiatives <$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.

2014Print 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 expensesFor 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.