Treasurer’s Tips Scott Tamashiro Region 6 Treasurer tamashiro@ieee.org Region 6 NEA March 11, 2017 11/9/2018

IEEE Center for Leadership Excellence Volunteer Training Section: Treasurer Timeline: As the Section Treasurer, there is a very strict timeline to follow in submitting some key financial reports back to IEEE Headquarters. Two extremely important dates that a Section Treasurer should have in their calendar: date to submit the sections financials [2/17 10%+ (3rd Friday), 2/28] and the second is the date to submit your Sections Annual Budget for the next financial year [varies]. Both financial responsibilities should be completed using NetSuite. http://ieee-elearning.org/CLE/course/view.php?id=20 11/9/2018

MGA Compliance Forms 11/9/2018

Center for Leadership Excellence Treasurer and Finance training available at: http://ieee-elearning.org/CLE/course/category.php?id=14 Includes Financial Management for Section and Chapters and NetSuite 11/9/2018

Section Rebate Financial, Meeting, and Officer Each Section receives US $2,000 plus: $3 / member (including Students, Associate Grade members) $4 / Senior Member & Fellow $1.50 / Affiliate $200 / eligible Chapter & Affinity Group $500 / eligible Subsection 10% bonus for reporting on time (Feb 15) Activity bonuses possible Unit & sub-units must comply with activity & annual reporting requirements. https://www.ieee.org/societies_communities/geo_activities/requir ed_reporting/rebate_schedule.html 11/9/2018

IEEE Concentration Banking The IEEE Concentration Banking account works like a standard checking account. You make deposits, write checks, earn interest on the daily ending balance and you can view your statements online. The features include: banking supplies are provided free of charge Bank by Mail: if a Wells Fargo branch is not in your area, postage-paid, Bank by Mail envelopes are provided for your convenience access to online statements 24/7 no fee, incoming wire transfers easy transfer of funds between Concentration Banking accounts IEEE Concentration Banking Program Staff E-mail: concentration-banking@ieee.org Phone: 732.562.5363 11/9/2018

IEEE Financial Management & Control IEEE and all Geo Units are exempt from US Federal Tax per section 501(c) 3. Documentation is available upon request for donors – contact the Region Treasurer. IEEE is responsible for maintaining the financial records for all Geo Units worldwide Compliance with IEEE Policies is important; in particular to IEEE maintaining the Institute’s nonprofit tax-exempt status in the U.S. IEEE’s Fiscal Year is the calendar year (1 January through 31 December) as it is for Geo Units Controls are established to ensure that the interests of the IEEE, its units and their officers are protected through Financial Reporting and Compliance 11/9/2018

IEEE Financial Management & Control Funds for geographic unit activities come directly & mostly from member dues Treasurers & Section leaders make significant contributions to IEEE’s financial management by maintaining appropriate records & timely annual financial reporting IEEE Geographic Units are not independent organizations, but instead are consolidated components of IEEE Subsections, Chapters & Affinity Groups are sub-units of Sections & their financial activities should be incorporated in the Section’s financials (L-50) Audits, Banking and Compliance Reviews are included in the annual processes 11/9/2018

Asset, Expense & Cash Controls to be performed by the local unit leaders Bi-annually: Review check register Monthly: Review accounts Annually: Review & update bank signature cards, Conduct local Section audit & Assist in IEEE Audit if requested Consider IEEE Concentration Banking program / custody account Easiest way to be compliant with most of the IEEE processes & policies Both outgoing & incoming Section Chairs / Treasurers review and sign off on annual L-50 Financial Report Why? Ensures the smooth transition of officers & mutual understanding of the unit’s financial status by both sets of officers Protection for both outgoing & incoming Volunteer Officers 11/9/2018

Contract Administration Contracts in excess of US $5,000 & less than U.S.$25,000 can be executed (signed) locally with a copy sent to IEEE Procurement Department All contracts with a stated or expected value at or above U.S. $25,000 ... negotiated & approved locally, executed (signed) at the Operations Center, after review by subject matter experts Review by subject matter experts: Staff, Legal, Volunteers (as appropriate) www.ieee.org/contractsonline contracts@ieee.org 11/9/2018

Insurance and Liability Insurance General Insurance – Certificate Required Serves as evidence for a 3rd party we are engaged with Prepared by IEEE Insurance staff – 1-3 day process time Name, address, event, description, etc. will be needed Liability - Coverage is extended to IEEE’s Organizational Units, and to sponsored and co-sponsored activities. Provides coverage in the event of liability due to bodily injury, personal injury, or damage to the property of others Volunteers are included as additional insured while acting within scope of authorized duties Contact ieeeinsurance@ieee.org or +1.732.562.5541 11/9/2018

Expense Claims Always use the current IEEE expense form with major item receipts and vouchers attached. The current form can be found on the IEEE Web site by searching for “20xx Expense Report” http://www.ieee.org/about/volunteers/committee/finance/finance _expense_report.html Claims more than 30 days after travel may be disallowed Auto mileage reimbursement requires at least three students per vehicle All expenses exceeding $25 must have a receipt attached to the expense report to be approved Receipts under $25 may be requested for reimbursement 11/9/2018

Expense Claims Travel over 50 miles one-way will be reimbursed at the IRS approved mileage rate (53.5¢ for 2017) for business travel Students living within a 50-mile radius of the Area meeting location do not normally receive any travel or meal reimbursements Be sure to sign your expense report Members who require submitting forms to Region 6 where a signature is required can optionally use an Electronic Signature technology. Any software package that meets the requirements for the UETA is acceptable 11/9/2018

Region Ground Rules “Economy” airfare only with optional luggage fees No seat upgrades, early-check in, etc. fees Accept typed-in Name (electronic signature) for signature for reports less than $600 Must be pre-approved by Director Rental car Excessive mileage > cheap airfare If you wouldn’t normally pay that price, ask “As needed, real-time” exceptions must have reason stated on report Took taxi vs free hotel shuttle Meal reimbursement even though food was provided Flight/travel delays added cost Non-hotel WiFi Special purchases Social meals (discouraged) If get pre-approval, you’re halfway there… remember to put the documentation in the Expense Report 11/9/2018

Expense Claims All claims for travel (students and faculty advisors) should be e-mailed to the Director and/or Area Chair (Area meetings) with a copy to the Region 6 Student Activities Chairman and a copy to the Region 6 Treasurer. If you don’t sign the Expense Report, you won’t get you money!!! 11/9/2018

When do I get paid? We are trying to get regular submittals to cut checks in batches and prefer to do it every 2-3 weeks to reduce labor costs at our Accounting firm Saved Region $1300 in 2016 with efficient use of firm However, if you need $$ now, send an email for an expedited check Three batches of checks have been sent this year HOP transfers also done in batches but more often as necessary 11/9/2018

Select from drop down menu Town where activity is being held– fill in each day Address, if available, add Zip+4 Member number for audit requirements X here for Personal Auto Mileage in miles Enter each day’s miles 11/9/2018

Write exceptions here, pre-approvals, abnormal charges Don’t forget to sign – electronic signatures are OK meeting UETA requirements 11/9/2018

Example 5 11/9/2018

Region Ground Rules Ideally, all winners (e.g., student competitions) need to fill out 1099 regardless of prize amount (Due 1/31, extended 2/28) Requirement is 3-year record keeping for IEEE volunteer leaders (you) 11/9/2018

What do I send to tamashiro@ieee.org and kramer@sandiego.edu? Since you asked, here’s my preference ONE .pdf file consisting of: Signed 1st page of Expense report 2nd page of Expense report (meals, parking, taxi, etc.) Receipts of expenses over $25.00 Other You may optionally send the XLS Expense report file, receipts under $25.00, supporting documentation, etc. Brownie points: PDF file name: Last-First_Event_Amount (Tamashiro-Scott_NE_$22.22.pdf) Use common sense for expenses – we serve the membership Take pictures of receipts or signed copy and convert to pdf (e.g., CutePDF) Please note all exceptions or unusual circumstances or costs on Expense report (e.g., Late at night, safest option was taxi; hotel full, R6 director approved higher room rate; screenshot of Orbitz showing lowest airfares not so low!, etc.) 11/9/2018

BUDGET 11/9/2018

2017 is Promising Approved budget Trend is improving $360K expenses $301K revenue $59K from reserves Trend is improving Net deficits 2014: -$63K (Sections Congress) 2015: -$87K (Lots of new initiatives) 2016: -$27K (Holding the fort) 11/9/2018

Area Meetings Expensive… But a Good Thing? Area Meetings reduced, cost up 2014: $76K (8 meetings (2 joint)) 2015: $69K (8 meetings (2 joint)) 2016: $86K (6 meetings (3 joint)) Spring Central: $23K (Hawaii) Fall CE/SO/SW: $22K (Includes $4.5K hotel) Fall NE/NW: $25K (F&B $12K) Increased attendance at these meetings Covering 2 students+advisor now 11/9/2018

Back to Normal for OpCom, But… OpCom costs down with no joint-Region meetings 2014: $52K 2015: $65K (joint R4) 2016: $61K (joint R4/R5/USA) 2017: $43K with maybe $4-7K in expense reports outstanding However, this does not include $6.5K for Conference Catalysts 11/9/2018

Rising Stars Conf 11/9/2018

Other PACE Pop-Ups Sections Congress registration About $6.6K of $20-$25K spent already Pop-Ups Region will pay ½ of 1st pop-up, mechanism to be determined (currently $1-2K plus Director Discretion Fund) Sections Congress registration Region is willing to help (limited number) support 2nd members of a section by paying part or all of registration fee – mechanism and funding to be determined (currently $1K freed up plus Director Discretion Fund) Likely smaller sections will get access and priority 11/9/2018