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IEEE Student Branch Treasurer

IEEE Student Branch Treasurer. IEEE Southeastern Michigan Student Branch Officer Training. Don C. Bramlett, PE, SMIEEE, FESD, FMSPE IEEE MGA Treasurer IEEE Region 4 Advisor IEEE Southeastern Michigan Section Advisor DTE Energy – Senior Project Engineer.

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IEEE Student Branch Treasurer

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  1. IEEE Student Branch Treasurer IEEE Southeastern Michigan Student Branch Officer Training Don C. Bramlett, PE, SMIEEE, FESD, FMSPE IEEE MGA Treasurer IEEE Region 4 Advisor IEEE Southeastern Michigan Section Advisor DTE Energy – Senior Project Engineer

  2. IEEE Student Branch Officer Qualifications • Undergraduate or Graduate Student Member of IEEE • IEEE Student Membership must be current (membership dues must be paid) upon entering office, and must be maintained throughout the term of office

  3. IEEE Student Branch Officers • Chair • Vice Chair • Secretary • Treasurer • Supported by Student Branch Counselor, Mentor and Committees, as applicable

  4. IEEE Student Branch Treasurer Responsibilities • The Treasurer is responsible for maintaining the financial accounts of the Student Branch. Since final approval of a project or activity may depend on the finances available, it is important that financial records be kept current and as accurate as possible.

  5. IEEE Student Branch Treasurer Responsibilities (continued) • The specific duties of the Treasurer include: • Maintain the appropriate Branch bank account(s) • Prepare an annual budget for inclusion with the Annual Plan of Activities report • Prepare the final Financial Statement for inclusion in the Annual Report of Activities • Oversee all fundraising efforts • Arrange for an orderly transfer of all Branch financial records to the incoming Treasurer

  6. Student Branch Reporting Requirements • Each year, you must submit reports to IEEE Student Activities. To encourage you to complete these, the IEEE provides you with funding - an incentive rebate. • Remember, IEEE wants to hear about your activities. • Annual Plan of Activities Due 1 November each year or two months after academic year begins Helps you plan your activities and budget for the year Allotment of either US $50 (49 members or less)or US $100 (50 members or more) Allotment based on Branch members as of 31 December statistics

  7. Student Branch Reporting Requirements (continued) • Annual Report of Activities Due 1 May each year or two months after the academic year end Detailed report of activities for past year, including financial statement Rebate of US $2 per Branch member Rebate based on Branch members as of 31 December statistics One check or payment will be sent to the Student Branch Counselor in December

  8. Student Branch Bank Account • IEEE is an IRS classified 501c3 not-for-profit • An IEEE Concentration Banking (CB) Account is the recommended banking system – there is no cost for this service; open an account via the IEEE website • A checking account with a smaller bank, a credit union or the university is a suggested alternative • The Branch bank account should have the Branch Treasurer, Chair and Counselor as authorized signers

  9. Fundraising • Normally there may be four (4) different kinds of money the Branch may need to raise: • Operating Funds - for continual expenses • Seed Money – an “advance” for an event • Subsidy Money – to reduce the cost for members • Capital Funds – to buy things

  10. Fundraising (continued) • Sources of Funding: IEEE Allotment and Rebate IEEE Region, Section, Technical Society, Chapter University – Department Head, Student Associations Local Industry Campus fundraising events or activities

  11. Fundraising (continued) • Considerations: • Brainstorming is a good way to thinks of ideas • Best Practices from other Student Branches • Be aware of University Fundraising constraints • Need to be careful not to tarnish the image of IEEE, the University and engineering, in general

  12. Fundraising (continued) • When asking outside sources for money: Donor must have funds to give (not everyone does!) Put the request in writing and include a brief budget Convince them of the merits of your cause and how their involvement with help both you and them Show them that your proposal is well-thought out and that you are soliciting form others as well Give them time to make a decision and then follow-up

  13. Student Branch Sharing • This is an opportunity for Student Branches in the IEEE Southeastern Michigan Section to share their Good Practices and Experiences

  14. Conclusion • The End • Have Fun

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