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Financial Activities Report

Financial Activities Report. Barcelona, Spain April 23, 2005 Xiaoping Yun Treasurer Tony Maciejewski VP for Finance. Outline. Financial Status – Xiaoping Yun 2006 Budget – Tony Maciejewski Financial Impact of Initiatives – Tony Maciejewski.

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Financial Activities Report

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  1. Financial Activities Report Barcelona, Spain April 23, 2005Xiaoping Yun Treasurer Tony Maciejewski VP for Finance

  2. Outline • Financial Status – Xiaoping Yun • 2006 Budget – Tony Maciejewski • Financial Impact of Initiatives – Tony Maciejewski

  3. Summary of Income and Expenses(All numbers in $1,000)

  4. Summary of Income and Expenses(All numbers in $1,000)

  5. Periodicals Income and Exp Summary(All numbers in $1,000)

  6. Summary of Income and Expenses(All numbers in $1,000)

  7. Summary of Income and Expenses(All numbers in $1,000)

  8. Summary of Income and Expenses(All numbers in $1,000)

  9. Historical Financial Data(All numbers in $1,000)

  10. Historical Financial Datawith Book Broker/IEL Info(All numbers in $1,000)

  11. Impact of IEEE 2004 Finances on 2006 Budget • IEEE 2004 Net Surplus of $22M • $12M operational surplus • $10M market fluctuation • 2004 reserves of $124.5M • Society budgets must be break even or better • Excludes market fluctuation • Excludes up to 3% of reserves for initiatives

  12. 2006 Publication Rate Principles • Member rates - recover incremental costs • Student rates - 1/2 of regular member rates • Non-member rates - 2/3 of market value • Page counts based on quality/service

  13. 2006 Magazine Rates • Keep membership rates same as 2005 • Regular - $21 – incremental cost $16.9 in 2004 • Student - $11 • Non-member rates at IEEE suggested rates • $315 (up 10% from $285 in 2005) • Increase page count 12% to 360 from 320

  14. 2006 Trans. Robotics Rates • Keep membership rates same as 2005 • Print - $19 ($10) – incremental cost $17.8 in 2004 • Electronic - $15 ($8) • Combo - $21 ($11) • Non-member rates at IEEE suggested rates • $660 (up 12% from $590 in 2005) • Increase page count 20% to 1291 from 1076 • Plan to print 1291 in 2005

  15. 2006 Trans. Automation Science & Engineering Rates • Keep the membership rates the same as 2005 • Print - $15 ($8) - incremental cost $14.2 in 2004 • Electronic - $10 ($5) • Combo - $17 ($9) • TASE with TRO – 25% discount on combination, same as 2005 • Print - $25 ($13) • Electronic - $18 ($9) • Combo - $29 ($15) • Non-member rates at IEEE suggested rates • $385 (up 4% from $370 in 2005) • Increase page count 3.8% to 440 from 424

  16. Publications Motions for 2006 Budget • Approval of 2006 rates for all publications • Rollover of TRO Manuscript Central budget - $19K • Increase in Magazine budget - extra $3K for electronic management system (Papercept) and extra $4.4K for travel ($14.5K total in Magazine editorial budget)

  17. Additional Motions for 2006 Budget • Increase in Conference Board budget from $13K to $15K • Award for Technology Transfer and Commercialization - $1K • Young Professional Lunch $5K per year

  18. Types of Initiatives • Society Internal Initiatives • Less than $50K (else requires TAB approval) • Total less than 3% of Society reserves ($100K) • Forecasting Initiative • Not within original budget but can be implemented if forecast is favorable • TAB Initiatives • IEEE Initiatives (abstract due April 25)

  19. Conditional Approval of Initiative Proposals • Initiatives for 2006 must be included in Society budget given to TAB on May 6 • Conditional Approval • Approve concept of proposal • Address questions from FinCom • Full proposal circulated to AdCom in next three months • Budget approved by AdCom at fall meeting

  20. Conditionally Approved Initiative Proposals • Industrial Activities Board • Robotics Technology Roadmap - $25K (2 yrs) • Standards Initiative - $20K (2 yrs) • Conference software development - $10K • Electronic Services - $105K (3 yrs)

  21. Financial Impact of Approved Initiatives • Industrial Activities Board • Innovation and Entrepreneurship Forum - $12.25K, $7.25K (2 yrs) • Technical Activities Board • Make $500 available to each technical committee for web presence - $30K (3 yrs) • IEEE EAB tutorials CD (XELL) - $20K (forecast initiative)

  22. Award for Technical Transfer and Commercialization • Good visibility of RAS conferences to industry. An incentive for industry to participate in RAS conferences. • Nominated papers must have been presented at RAS sponsored/cosponsored conferences. • Nominated commercial products must be based on papers presented at RAS sponsored/cosponsored conferences. • Authors of paper that presented the first idea and of the paper that described the final product will be awarded based on the committee’s selection. • Boards involved: Membership, Industry, Technical, Conference

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