1. Section Treasurer Responsibilities IEEE Region 4 Meeting Jan 31 – Feb 1, 2004 Presenter: Bob Dawson, R4 Treasurer

2. IEEE Overview (1) IEEE is responsible for maintaining records for all Units Worldwide Treasurers contribute significantly by maintaining appropriate records locally and by filing timely annual reports Compliance with IEEE Policies is important to maintaining the IEEE nonprofit tax-exempt status

3. IEEE Overview (2) Delays in submitting the annual report will delay receipt of the section rebate/allocation Sections of IEEE are not independent organizations but integral parts of IEEE Subsections, Chapters and Affinity Groups are sub-units of Sections – Sub-units must provide the Section Treasurer with their annual report for consolidation into the Section’s Annual Report. (Alternatively the Section Treasurer may provide separate and complete financial reports for each sub-unit)

4. IEEE Revenue 2002 Revenue = $200.6 million Entire IEEE

5. IEEE Expenditures 2002 Expenditures = $208.6 million

6. Term of Office Defined in the Section Bylaws Begins on January 1 and ends on December 31 each year The Section Treasurer must file the L-50 Annual Report for his/her term of office by the filing deadline in February of the following year The Treasurer retains his office until the successor Treasurer is elected and takes office

7. Typical Duties (1) Become familiar with IEEE accounting procedures (www.ieee.org/policies)(www.ieee.org/policies) Collect financial records from outgoing treasurer Prepare annual budget Enter all receipts & disbursements in an account book and/or computer record (Quicken/Quick Books/Excel) Deposit money received in the name of the Section in a depository determined by the Section Executive Committee

8. Typical Duties (2) Prepare a monthly bank account reconciliation Make disbursements in accordance with approved budget and IEEE reimbursement guidelines Attend all meetings of Unit Executive Committee Prepare & forward to IEEE by the end of the third week in February, a Financial Statement of Operations (L50) as of 31 December of the preceding year

9. Annual Financial Report (L-50) Timely and accurate preparation of the L-50 report is an important responsibility A unit officer (other than Treasurer) must review the financial report Treasurer & Chair must sign the certification page agreeing that they believe to the best of their knowledge the report to be true, correct & complete. Annual L50 financial report should include: –Reporting of all Section activities

10. Bank Accounts The legal name of the IEEE is the "Institute of Electrical and Electronics Engineers, Incorporated" Must never be in an individual's name To the maximum extent possible IEEE Geographical units are encouraged to participate in the IEEE Concentration Banking Program Local depository accounts are permissible Bank Account Signatures (www.ieee.org/treasurers) (www.ieee.org/treasurers)

11. Funding Sources Section Rebate Contributions to/from Sections PACE Projects (http://www.ieeeusa.org/pace/funding.asp) SSVR (Section Support Via Regions)

12. Financial Responsibilities Unit Reserves Conflict of Interest Employer Identification Number –EIN = 13-1656633 Exemption from Federal Income Tax

13. Information Region 4 Treasurer: Bob Dawson r.j.dawson@ieee.org Section Rebate Schedule: (www.ieee.org/organizations/rab/scs/Required_Re porting/rebateschedule.html) Treasurer Training: (www.ieee.org/organizations/rab/scs/Officer_Traini ng/index.html)