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IEEE Sensors VP Finances Report Chris Schober November 2, 2005

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Presentation on theme: "IEEE Sensors VP Finances Report Chris Schober November 2, 2005"— Presentation transcript:

1 IEEE Sensors VP Finances Report Chris Schober November 2, 2005
IEEE Sensor Council

2 IEEE Sensors OFF the WATCH LIST Chris Schober November 2, 2005
IEEE Sensor Council

3 Off the Watch list From: Sent: Tuesday, November 01, :13 AM To: Cc: Subject: Sensors Council removal from the Watch List Society Officers, After considerable discussion of the 2005 Watch List at the October 25, 2005 TAB Finance Committee meeting, the following recommendation was made: That the following Societies be removed from the 2005 Watch List as a result of having 2 consecutive surplus years in a 3 year window and having adequate reserves. Note: Watch List removal is contingent on actual 2005 Society/Council forecast being met. • Consumer Electronics • Sensors Council For your information, attached is your Society's financial highlights. As mentioned above, removal from the Watch List is dependent upon your Society's 2005 forecast, which at minimum, must return a positive bottom line. There is no need to attend the November TAB Finance Committee meeting at this time. Please do not hesitate to contact me should you have any questions. (See attached file: Watch List Financial Highlights - Sensors - October'05.xls) Sharon Nadler Manager, Finance & Administration TAB Nov 2, 2005 IEEE Sensor Council

4 Balance sheet reserves per TAB
Nov 2, 2005 IEEE Sensor Council

5 Report to TAB Finance Committee February 18, 2005
Sensors Council Report to TAB Finance Committee February 18, 2005 Christina Schober VP Finances Bob Bannon Treasurer/ Secretary Nov 2, 2005 IEEE Sensor Council

6 Reserves vs. ½ Expenses Update 11/05 ‘04 Reserves $379
1/2 Expenses $433/2 = $217k Nov 2, 2005 IEEE Sensor Council

7 Reserves Update 11/05 2004 Reserves $379
Initially 26 Societies contributed $2K each = $52k in 1999 TAB loan of $100k in 2000 2002 paid back $100k TAB loan ($45.5k after taxes) Reserves at $284k Nov 2, 2005 IEEE Sensor Council

8 Cost Center Nets 2005 Conf Budget +$62k over plan
2006 Conf Budget planning for $110k surplus ($57k over plan) Nov 2, 2005 IEEE Sensor Council

9 2004 Conf Proceedings Income $114k
Conference Budgets 2002 Orlando Florida 2002 Conf loss -$59.9k *audited 2003 Toronto Canada 2003 Conference loss -$43.6k US * audited 2003 Hotel Attrition payoff –29.1k US 2004 Vienna Austria 2004 Conference gain k US ** current estimate 2005 Irvine Calif 2005 Conference gain +101k US *** Submitted most likely budget (31% surplus) 39Budget dated predicts +$39k 2002 Conf Proceedings Income +$69.3k 2003 Conf Proceedings Income k 2004 Conf Proceedings Income +51k Budget 2005 Conf Pub Income budget $58k 2006 Conf Pub Income budget $59.7k 2007 Conf Pub Income budget $61.5k Update 11/05 2004 Conf $145k profit Update 11/05 2004 Conf Proceedings Income $114k Nov 2, 2005 IEEE Sensor Council

10 Conferences 2005 in Irvine, California 2006 Gyeongju, Korea
2002 in Orlando, Florida 2003 in Toronto, Canada 2004 in Vienna, Austria 2005 in Irvine, California 2006 Gyeongju, Korea 2008 Atlanta, Georgia or Troy, NY 2009 Leece, Italy or Athens, Greece 2010 Sydney, Australia or Beijing, China 11/05 update ’08 Atlanta, Georgia ’09 Leece, Italy ’10 Sydney, Australia Nov 2, 2005 IEEE Sensor Council

11 Conference Budgets Year Venue Net Comments 2002 Orlando -$59.9K
Proc $69.3K 2003 Toronto -$72.7K Proc K 2004 Vienna $42.8K Proc $51K 2005 Irvine $101K Budget $39K 2006 Korea $110k Budget $52k Update 11/05 2004 Conf $145k profit ‘05 Conf Proceedings Income $114k ‘06 $106k most likely, $30k pessimistic Nov 2, 2005 IEEE Sensor Council

12 Summary Reserves strong Net positive budget planned for 2006
Addressed Conference and Journal problems Nov 2, 2005 IEEE Sensor Council

13 IEEE Sensors Conference Summary Chris Schober November 3rd, 2005
IEEE Sensor Council

14 Conf Registration #’s 2002 Orlando 2003 Toronto 2004 Vienna 2005
Irvine Attendees 617 (pd 557?) 357 595 (548 pd) 584 (531 pd) Students/life included above 63 109 146 89 Tutorials 125 55 64 124 Nov 2, 2005 IEEE Sensor Council

15 Conference Summary Year Venue Net Annual Pub income from Proceedings
2002 Orlando -$59.9K Proc $69.3 K 2003 Toronto -$72.7K Proc $111.5 K 2004 Vienna $145K Proc $114.0 K 2005 Irvine $101K budget, est.$60k 2006 Korea $106k Nov 2, 2005 IEEE Sensor Council

16 Conference Financial Audit report summaries
2002 Orlando 2002 Conf loss -$59.9k 2003 Toronto 2003 Conference loss -$43.6k US 2003 Hotel Attrition payoff –29.1k US ($40k CAD) not included in audit document liability was $99.2k US ($124.1k CAD) Nov 2, 2005 IEEE Sensor Council

17 Conference Financial Audit report summaries
2004 Vienna Pre-audit submittal numbers 2004 Conf profit +$146k (transfer exchange rate .87 Euro to US) Note: Transfer of profits earlier to US account could have increased profit significantly because of exchange rate change. 2005 Irvine Budget numbers 2005 Conference budget $101k (based on 650 pd attendees, 120 pd tutorial) Nov 2, 2005 IEEE Sensor Council

18 Sensors Conference 2004 Budget preliminary
$145k US – pre-audit submittal # Includes returning $15k Seed money to Sensors Council. Two bank accounts set up one US, one Austria. Only US received seed money (in Oct). Multiple donations from Vienna University (meeting rooms etc) Food & Beverages provided at lower rate from University services Donation of city of ½ banquet costs No exposure to hotel attrition, room block or food & bev No proceeding sales to date Nov 2, 2005 IEEE Sensor Council

19 Sensor Council Nov 2005 update reserve vs. ½ expense
IEEE Sensor Council

20 The End Nov 2, 2005 IEEE Sensor Council

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