IEEE Region 8 Committee Meeting: Malta April 2008 Financial Report: 2007 Brian R Harrington IEEE Treasurer: Region 8

IEEE Region 8 Committee Meeting: Malta April 2008 Objectives l A Report to the Region 8 Committee on the Financial Results for year 2007 l Factors Affecting Region 8 l Budget Proposal for this Year: 2008

IEEE Region 8 Committee Meeting: Malta April 2008 Housekeeping l Use the Region 8 Expense Report: On the R8 Web Site and I will send a copy l Can be sent to Treasurer by l Documents and vouchers supporting a claim can be readable scanned copies Reviewed

IEEE Region 8 Committee Meeting: Malta April 2008 Audit Proviso l Scanned Copies should be Readable l Originals should be retained until the end of the financial year following “Scanned Documents Can Count as Audit Evidence where the Appropriate Controls are in Place”

Cash Increases by $75,07K Assets Increase by $73,75K

Surplus will be carried forward to 2008 expenses

Our Cash to Investment Ratio is 0.88 Cash (year end) is 0.55 of our proposed 2008 Expense Budget

IEEE Region 8 Committee Meeting: Malta April 2008 Financial Trend

IEEE Region 8 Committee Meeting: Malta April 2008 Financial Trend

Sevilla$91K Edinburgh$97K Budapest (02)$82K S.C. (’02)$152K Iceland$130K Zagreb$111K Stockholm Paris$101K S.C. (’05)$170K Vilnius$117K Belgrade$120K Sofia$107K Bucharest$106K

BMS Concerns: 1.Loss of $11,000 on VCF Donations 2.Assessment Income down by $20,000 on expectations 3.One Statement of Assessment and Donations in a period of Eight months

ISBIR Region 8 Target

IEEE Region 8 Committee Meeting: Malta April 2008 The Future l There will be an increase in IEEE Region Allocation for next year For Region 8 this will be an increase of 24% to $144,596

Region Allocation Region Variance% Increase 169,840 59,04510,43518% 263,094 53,6209,47418% 381,037 68,49912,53818% 458,617 49,6918,92618% 563,973 54,1609,81318% 698,228 83,55414,67418% 783,031 69,12213,90920% 8144, ,81727,77924% 994,483 79,06715,41619% 10150, ,82431,03526% 907, ,399154,000

IEEE Region 8 Committee Meeting: Malta April 2008 Funding Support Growth: Funding: USD Exchange: 2008 Position after Currency Value Correction

IEEE Region 8 Committee Meeting: Malta April 2008 The Future l There is support from MGA for Sections’ Congress and l For MGA Volunteers’ Training

IEEE Region 8 Committee Meeting: Malta April 2008 Thank You

IEEE R8 Committee Meeting - Belgrade - Oct 2006 Pattern of Funds Receipts

IEEE Region 8 Committee Meeting: Malta April 2008