finance

The Finance subteam

AIESEC International Q3 2014 Report

PROJECT/SUBTEAM BOTTOMLINE The VP Finance is responsible for the financial and legal management of AIESEC International in order to guarantee the sustainable growth and evolution of the organization. The VP Finance is also responsible for all the global investments and decision making process management as well as the overall governance of the AIESEC International to different stakeholders. Lastly the role also includes the administrative responsibilities inside AIESEC International, contracts management and the support to the network in terms of financial and legal management.  

PEOPLE INVOLVED Johannes Ide. Vice President Finance Supported by Patricia Sureveen. Office  Manager  FLB.

efforts

AIESEC International Q3 2014 Report

GENERAL COMMENT Q1 is a quarter of high external pressure for finance, especially the external audit phase (till July) and IC (August) demand a high efficiency in the normal operations. The transition of the office manager was something new and hence not as efficient as planned.  

INDIVIDUAL EFFORTS Johannes Ide. Financial management (inlc audit) (40%), Legal management (10%), Risk management (10%), ILM management (10%), Office manager transition (10%), Legislation (10%), other contributions to team (10%)

OUTCOMES

AIESEC International Q3 2014 Report

Q3 MILESTONES CHECK Finance Quarter

Review (achieved)

Regional Finance Summits

(achieved)

Risk Management – Israel Proposal

(achieved 60 – 80%)

Ongoing Office and Finance Management

(achieved 80-90%)

New quarter review process with acountant in place and executed

First out of 3 summits delivered, next summits folllow in Q2

Awaiting final proposals, then decision making process

Transition to new office management not as efficient, but

crucial deadlines were fulfilled

MAIN KPIs MONITORING

KPI Name Planned Achieved %

Budget achievement 100% see budget 33%

Transparency 70% TBA

Sustainability 90% TBA

Legality 60% TBA

To have accurate data for the quarter the FLB is only released on the 1° of October and will close on 31° of October. The Budget quarter is according to the financial year from 1° of June till 31° of August.

Results

BD Revenue: Budget Target: 604.000 € - 100 % Already Secured: 259.938 € - 43 %

Incl. contracts to be signed: 449,630 € - 74 % Projected Result: 617.397 € - 102 %

Budget 1415 realized

Quarter Balance Sheet realized

Finance network related KPIs: •  Transparency – results end of October after FLB survey •  Sustainability – results end of October after FLB survey •  Legality – results end of October after FLB survey •  Empowerment – results end of October after FLB survey

FLB Results