Treasurer’s Report: Aylin Yener

1. Treasurer’s Report:Aylin Yener Presented at the BoG meeting, ISIT 2013, Istanbul July 7, 2013

2. Outline • Conference Closings • 2013 budget and final2012 budget numbers • Initiatives • 2014 budget • House keeping: Reimbursements

3. Conference Closing Guidelines • Conference Closings is a process that involves IEEE conference services. • This involves submitting documentation, closing of the bank accounts, transferring the surplus to our budget and the audit. • Erin Lyman (e.lyman@ieee.org) is our analyst. • Organizers need to be responsive to the analyst. • Timeline: 3 months after the conference concludes, max within one year. • We receive financial fines after 1 year (twice in 2012-both reversed with some effort).

4. Current Status • Update: the closing process for ISITs, ITWs, and Schools are within the timelines IEEE suggests, and are now being completed swiftly without problems. • Healthy surplus reported in all of them, e.g. ISIT’12. • 2011 ITW is still not closed • Surplus: $22,892 (partially in possession) • Closing process started 8/12 • For tax reasons, part of the surplus needed to be transferred to IEEE South Brazil Section, documentation on that is needed. • This money needs to be transferred to the IEEE-USA account in order for the society to receive it. • Erin isworking to resolve the issuewith the organizers.

5. 2013 Budget • Budget as finalized in November 2012 was predicting 159k surplus. • As of May 2013, the predicted end-of-year surplus is 120k • This is likely because we have not yet received most of the revenue due during the year. This should not deter us from our goal of taking new initiatives. • We can spend up to 50% of the amount of our operational surplus from 2012 ($219k) on initiatives.

7. 2012 numbers as of Feb 2013

8. 2013 numbers

9. Initiatives • 50% spending rule gives us the opportunity to take on initiatives. • We have 120k-160k expected surplus. • We have upto~109k to spend on initiatives. • We have just implemented a page budget increase (per Helmut’s request) to add about $50k to the expenses. • This leaves about $70k-$110k for initiatives.

10. Initiatives • Initiatives <$50k: no need for IEEE “approval” • First initiative (already approved): Student Committee Video Contest and Lunch with Shannon Award Winner • Other expected initiatives: Online Committee initiative, WITHITS video interviews, new schools. • We need to let IEEE know by July 12.

11. 2014 • Print subscription fees have been increased to $80 for non-IT IEEE members and $105 for non-IEEE members (student rates at %50). • IEEE has changed the “algorithm” for publication revenues. • As a result, we have been presented with a budget that is projecting in the negative (-35k).

12. Reimbursement of expenses • For committee chairs and officers. Please (pretty please): • submit expenses within one-month of occurrence. • e-mail all scanned receipts with the “Expense Form” to Valerie Howland v.howland@ieee.org with a cc to Aylin. • remember to include the list of attendees for meal reimbursements. • Distinguished lecturers follow the same exact procedure above. M&C committee chair (Michelle): please communicate that we have $2k/visit “guideline” to DLs.