ieee region 8 committee meeting: malta april 2008 financial report: 2007 brian r harrington ieee...
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IEEE Region 8 Committee Meeting: Malta April 2008
Financial Report: 2007
Brian R HarringtonIEEE Treasurer: Region 8
IEEE Region 8 Committee Meeting: Malta April 2008
Objectives
A Report to the Region 8 Committee
on the Financial Results for year 2007
Factors Affecting Region 8
Budget Proposal for this Year: 2008
IEEE Region 8 Committee Meeting: Malta April 2008
Housekeeping
Use the Region 8 Expense Report:
On the R8 Web Site and I will send a copy
Can be sent to Treasurer by email
Documents and vouchers supporting a
claim can be readable scanned copies
Reviewed
IEEE Region 8 Committee Meeting: Malta April 2008
Audit Proviso
Scanned Copies should be Readable
Originals should be retained until the end of the financial year following
“Scanned Documents Can Count as Audit Evidence where the Appropriate Controls
are in Place”
Cash Increases by $75,07K
Assets Increase by $73,75K
Surplus will be carried forward to 2008 expenses
Our Cash to Investment Ratio is 0.88
Cash (year end) is 0.55 of our proposed 2008 Expense Budget
IEEE Region 8 Committee Meeting: Malta April 2008
Financial Trend
Tre nds: 2001 to 2007
0200
400600
8001000
1200
1 2 3 4 5 6 7
Year: 200x
Fu
nd
s:
US
D
Investment
A ssets
IEEE Region 8 Committee Meeting: Malta April 2008
Financial Trend
Tre nds: 2001 to 2007
0200
400600
8001000
1200
1 2 3 4 5 6 7
Year: 200x
Fu
nd
s:
US
D
Investment
Assets
Sevilla $91K
Edinburgh $97K
Budapest (02) $82K
S.C. (’02) $152K
Iceland $130K
Zagreb $111K
Stockholm
Paris $101K
S.C. (’05) $170K
Vilnius $117K
Belgrade $120K
Sofia $107K
Bucharest $106K
BMS Concerns:
1. Loss of $11,000 on VCF Donations
2. Assessment Income down by $20,000 on expectations
3. One Statement of Assessment and Donations in a period of Eight months
ISBIR
Region 8
Target
IEEE Region 8 Committee Meeting: Malta April 2008
The Future
There will be an increase in IEEE Region Allocation for next year
For Region 8 this will be an increase of 24% to $144,596
Region Allocation
Region 2008 2007 Variance % Increase
1 69,840 59,045 10,435 18%
2 63,094 53,620 9,474 18%
3 81,037 68,499 12,538 18%
4 58,617 49,691 8,926 18%
5 63,973 54,160 9,813 18%
6 98,228 83,554 14,674 18%
7 83,031 69,122 13,909 20%
8 144,596 116,817 27,779 24%
9 94,483 79,067 15,416 19%
10 150,860 119,824 31,035 26%
907,400 753,399 154,000
IEEE Region 8 Committee Meeting: Malta April 2008
Funding Support
Growth:
Funding:
USD Exchange:
2008 Position after Currency Value Correction
IEEE Region 8 Committee Meeting: Malta April 2008
The Future
There is support from MGA for Sections’ Congress and
For MGA Volunteers’ Training
IEEE Region 8 Committee Meeting: Malta April 2008
Thank You
IEEE R8 Committee Meeting - Belgrade - Oct 2006
Pattern of Funds Receipts
Assessment - 2005
0
20000
40000
60000
80000
1 3 5 7 9 11
Months
US
D
IEEE Region 8 Committee Meeting: Malta April 2008
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