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CTS Spring Planning Meeting 2011 Financials

Review and approve 2011 budget plan, funding authority, budget tracking, and approval process. Ensure compliance with IEEE requirements and CTS financial policies. List of recommendations to meet objectives.

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CTS Spring Planning Meeting 2011 Financials

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  1. Section Financials CTS Spring Planning MeetingSan MarcosJanuary 29, 2011Kenny Ricekrice@ieee.orgHm PH: 512-292-4181, Cell PH: 512-658-5967

  2. Funding Authority • Authority to Commit CTS Approved Budgeted Funds • Chairman (also final approval authority) • Section Staff • Chapter Chairs

  3. Section Funds Disbursement • By-Laws requires two Signatures for over $5,000 • Approval of Section Chair • Reimbursements must have all info before check will be released. • Summary Expense Report (CTS web-site) • Identify Function • Name/address of payee • Full description for each item • Budget Line item • Valid approval

  4. Why Budget? • IEEE Requirements • Region 5 Guidelines • CTS ByLaws • CTS Financial Policies & Procedures • Audit

  5. Who Prepares CTS Budget? • All Section Officers and Staff • Chairman, VPs, Secretary, Treasurer, PACE Chair, Awards, Conferences, Professional Activities, Membership, Electronic Communications, & Student Liaison. • ALL CTS CHAPTERS and Affinity Groups • Note: Student Branch support is part of the CTS Student Liaison Coordinators budget.

  6. Who Approves The Budget? • All Section Officers and Staff • Past two Section Chairs, Chairman, VP-Austin, VP-San Antonio, Secretary, Treasurer, & Manager Electronic Communications. • ALL CTS CHAPTERS and Affinity Group Chairs

  7. CTS Budget Approval Process • Set target net based upon sound financial logic • Identify Overall Budget Target • Review budget (handout) • Present to ExCom for approval

  8. Budget Tracking • Use Budget Units as CTS Target • However, when a Budget Unit goes over approved budget, then ExCom will be notified

  9. Summary 2010 Note: Investment Gains (Losses) are unrealized. SSC/CAS Chapter received $1000 for 2011 Funding in Dec 2010;

  10. 2011 Budget Requests

  11. CTS Asset History

  12. Impact Of Implementing Received 2011 Budget 3 times Annual Rebate

  13. Recommended Target Budgetfor 2011

  14. Impact Of Implementing Recommended 2011 Budget 3 times Annual Rebate Level Of Rec’d Budget

  15. 2011 BUDGET APPROVAL PROCESS • 1. Review 2010 revenues and expenses (handout) • 2. Review 2011 overall budget plan (-$25,000) • 3. Make motion to Approve • 4. Tom asks for a Second • 5. If Second Received, Tom asks for discussion • 6. When discussion is closed, ask for a vote • 7. If 51% of Excom members in attendance (including proxies) approve, then budget is approved.

  16. List of BIG 3 Recommendationsto meet 2011 Objectives • Meetings: Charge fee for Food • Plan Conferences, workshops, symposiums that yield a 20% net surplus • Secure Company sponsorships for attending conferences

  17. ANYQUESTIONS ??

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