1 / 6

AESS Finance Committee April 2009

This document provides background information on the AESS Finance Committee, the 2010 budget outlook and recommendations, and adjustments made to the budget. It also highlights the impact on the budget due to market fluctuations and changes in reserve rules. The revised estimated surplus for 2010 is mentioned along with suggestions to enhance revenues and reduce expenses.

annal
Télécharger la présentation

AESS Finance Committee April 2009

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. AESS Finance CommitteeApril 2009 • Background • IEEE 2010 Outlook/Recommendations • 2010 Budget

  2. AESS Finance CommitteeBackground • Operational Surplus in 2008 was: • $2796.4K (Income) - $2657.7K (Expenses) = $347K (Net) • Market Fluctuation (Interest Income) loss in 2008 was ($1508K) • Net Loss in Reserve was ($1161K) • Impact on 2010 Budget • 50% rule suspended - Can’t use 50% of previous year surplus • 3% rule suspended - Can’t use 3% of Reserves for Initiatives • I

  3. AESS Finance Committee • 2010 IEEE outlook/recommendations: • “Create the most realistic budget you can” • “Keep our key activities healthy and use this time to trim things that do not hurt our core mission” • Conference, Member and Non-Member Revenue are projected to decrease • Cut down on travel by using conference calls or having fewer people travel • Add workshops and tutorials at conferences to enhance revenues • Consider adding exhibits to conferences • Scale back entertainment at events

  4. AESS Finance Committee • 2010 Budget • Budget from IEEE showed an Operational Surplus of • $138K • Finance Committee (Rassa, Dean, and Reyes) adjusted the Budget by adding or deleting some Society activities

  5. Finance Committee • 2010 Budget Adjustments • Additions: Was Is • President’s Office +$46.8K $33.2K $80K • AdCom Committee +$8.7K $61.3K $70K • Chapter Comm Student Inc +$25K $0 $25K • Distinguished Lecturer +$16.8K $8.2K $25K • Technical Committee +$3.2K $1.8K $5K • Membership Committee +$1.8K $8.2K $10K • Web Site Maintenance +$10K $0 $10K • Education Committee +$1K $0 $1K • Student lecturers +$25K $0 $25K • Other +$4.4K • Total +$147.2 • Deletions

  6. Finance Committee • Deletions Was Is • Chapter Committee ( $22.9K) $37.9K $15K • International Directors ($14.6K) $14.6K $0 • Total Deletions ($37.5K) Total Additions – Deletions = +$110K Revised estimated surplus is $138.7K-$110K = $28.7K Additions Due to Revised Conference Estimates = +$112K Final Estimated Surplus for 2010 is $140.7K

More Related