Financial Report: 2007

1. Financial Report: 2007 Brian R Harrington IEEE Treasurer: Region 8 b.harrington@ieee.org

2. 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

3. 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 aclaim can be readable scanned copies Reviewed

4. 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”

5. Cash Increases by $75,07K • Assets Increase by $73,75K

6. Surplus will be carried forward to 2008 expenses

7. Our Cash to Investment Ratio is 0.88 • Cash (year end) is 0.55 of our proposed 2008 Expense Budget

8. Financial Trend

9. Financial Trend

11. 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

12. BMS Concerns: • Loss of $11,000 on VCF Donations • Assessment Income down by $20,000 on expectations • One Statement of Assessment and Donations in a period of Eight months

13. ISBIR Region 8 Target

14. The Future • There will be an increase in IEEE Region Allocation for next yearFor Region 8 this will be an increase of 24% to $144,596

15. Region Allocation

16. Growth: Funding: USD Exchange: 2008 Position after Currency Value Correction Funding Support

17. The Future • There is support from MGA for Sections’ Congress and • For MGA Volunteers’ Training

19. Thank You

20. Pattern of Funds Receipts

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