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Funding Authority

Section Financials CTS Spring Planning Meeting San Marcos January 29, 2011 Kenny Rice krice@ieee.org Hm PH: 512-292-4181, Cell PH: 512-658-5967. Funding Authority. Authority to Commit CTS Approved Budgeted Funds Chairman (also final approval authority) Section Staff Chapter Chairs.

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Funding Authority

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  1. Section Financials CTS Spring Planning MeetingSan MarcosJanuary 29, 2011Kenny Ricekrice@ieee.orgHm PH: 512-292-4181, Cell PH: 512-658-5967

  2. Funding Authority • Authority to Commit CTS Approved Budgeted Funds • Chairman (also final approval authority) • Section Staff • Chapter Chairs

  3. Section Funds Disbursement • By-Laws requires two Signatures for over $5,000 • Approval of Section Chair • Reimbursements must have all info before check will be released. • Summary Expense Report (CTS web-site) • Identify Function • Name/address of payee • Full description for each item • Budget Line item • Valid approval

  4. Why Budget? • IEEE Requirements • Region 5 Guidelines • CTS ByLaws • CTS Financial Policies & Procedures • Audit

  5. Who Prepares CTS Budget? • All Section Officers and Staff • Chairman, VPs, Secretary, Treasurer, PACE Chair, Awards, Conferences, Professional Activities, Membership, Electronic Communications, & Student Liaison. • ALL CTS CHAPTERS and Affinity Groups • Note: Student Branch support is part of the CTS Student Liaison Coordinators budget.

  6. Who Approves The Budget? • All Section Officers and Staff • Past two Section Chairs, Chairman, VP-Austin, VP-San Antonio, Secretary, Treasurer, & Manager Electronic Communications. • ALL CTS CHAPTERS and Affinity Group Chairs

  7. CTS Budget Approval Process • Set target net based upon sound financial logic • Identify Overall Budget Target • Review budget (handout) • Present to ExCom for approval

  8. Budget Tracking • Use Budget Units as CTS Target • However, when a Budget Unit goes over approved budget, then ExCom will be notified

  9. Summary 2010 Note: Investment Gains (Losses) are unrealized. SSC/CAS Chapter received $1000 for 2011 Funding in Dec 2010;

  10. 2011 Budget Requests

  11. CTS Asset History

  12. Impact Of Implementing Received 2011 Budget 3 times Annual Rebate

  13. Recommended Target Budgetfor 2011

  14. Impact Of Implementing Recommended 2011 Budget 3 times Annual Rebate Level Of Rec’d Budget

  15. 2011 BUDGET APPROVAL PROCESS • 1. Review 2010 revenues and expenses (handout) • 2. Review 2011 overall budget plan (-$25,000) • 3. Make motion to Approve • 4. Tom asks for a Second • 5. If Second Received, Tom asks for discussion • 6. When discussion is closed, ask for a vote • 7. If 51% of Excom members in attendance (including proxies) approve, then budget is approved.

  16. List of BIG 3 Recommendationsto meet 2011 Objectives • Meetings: Charge fee for Food • Plan Conferences, workshops, symposiums that yield a 20% net surplus • Secure Company sponsorships for attending conferences

  17. ANYQUESTIONS ??

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