Treasurer’s ReportIEEE-Region 4-Jan08 [01]

Institute of Electrical & Electronics EngineersRegion 4 – Central USA

Treasurer’s Reporte-Meeting - January, 2008

Prepared By – Region 4 TreasurerSat Basu [satbasu@ieee.org]

January 03, 2008

Treasurer’s ReportIEEE-Region 4-Jan08 [02]

Responsibilities - I

=>Handle Region 4 Finances• Prepare Balanced Budget for the Year

– Coordinate with R4 Ex-Com Members for Budget Inputs– Obtain Region Committee Approval

• Develop new tools to provide– Financial Visibility– Up-to-date financial standing– Budget VS Actual Revenue and Expense

• Prepare Annual L-50 R4 Finance Report • Prepare Various Financial Reports as necessary

Treasurer’s ReportIEEE-Region 4-Jan08 [03]

Responsibilities - II=> Coordinate on Financial Issues• Discuss with RAB Treasurer on Funding• Obtain RAB and Other IEEE Funding• Approve Concentration Banking Transactions• Approve Transfer of Funds to and from Investments• Recommend Strategic Planning Finances as needed• Sponsor Region 4 Conferences• Recommend Finances to Sections as needed• Provide Finance Information and Guidance to Sections• Offer Partial Sponsorship for Section Organized Conferences

Treasurer’s ReportIEEE-Region 4-Jan08 [04]

Responsibilities - III=> Develop and Maintain Financial Policy• Develop/Modify Travel Policy

– Transportation - Plane, Train, Bus, Car

– Meal - Food, Beverage, Social and other– Entertainment - Personal, and Official Guests– Accommodation – Hotel, Youth Hostel, Dormitory, other

• Develop/Modify Funding Policy– Funds for Units - Sections, Chapters, Student Branches,

Affinity groups– Funds for Activities - Communication, Education,

Membership, Professional, Student, Technical

Treasurer’s ReportIEEE-Region 4-Jan08 [05]

Accomplishments 2007• Region 4 Financial Picture – A New Spread-Sheet– All Revenue and Expenses Details– Activity Budget– Region 4 Budget Versus Actual

• 2008 Budget Items prepared and coordinated• Prepared Region 4 L50 Annual Financial Report • Prepared Treasurer Training Material for e-Meeting• Negotiated & significantly reduced EIT2007 hotel Cost• Recommended Lower Cost Facility for R4 Meetings

Treasurer’s ReportIEEE-Region 4-Jan08 [06]

Plans 2008• Determine New ways to Reduce Cost• Recommend Section Congress Expenses be handled by RAB

[MGAB] Since Region does not have influence for Location, Accommodation or any other costs

• Advise Region 4 shall follow strict Financial Guidelines. All exceptions would require approval from the Director, Director-Elect, Executive Committee and/or Region Committee

• Line up Region 4 Budget Items with L50 Items• Maintain Region 4 Financial Record Keeping for Direct

preparation of IEEE Annual Financial report L50• Continue Support to Region 4 Units • Cut/Reduce Operational Costs