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SSCS Treasurer’s Report August 15, 2011 Harry Lee

SSCS Treasurer’s Report August 15, 2011 Harry Lee. Agenda. 2010 Financials [Budget vs. Actuals] 2011 Budget and Forecast 2012 Budget and Assumptions Reserve Trends. 2010 Actuals (final) Net Surplus (Deficit), $K. A- Actuals B-Budget. Lower subscription -41k Higher APP/IEL +90k

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SSCS Treasurer’s Report August 15, 2011 Harry Lee

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  1. SSCS Treasurer’s Report August 15, 2011 Harry Lee

  2. Agenda • 2010 Financials [Budget vs. Actuals] • 2011 Budget and Forecast • 2012 Budget and Assumptions • Reserve Trends

  3. 2010 Actuals (final) Net Surplus (Deficit), $K A- Actuals B-Budget Lower subscription -41k Higher APP/IEL +90k Lower printing cost 19k Higher creation expense 18k EXPERT +20k ISSCC +412k CP +59k Predoc. Fellowship +25k SPICE event +5k DL +7k Chapters -7k

  4. 2011 Forecast vs. Budget Net Surplus (Deficit), $K FC- Forecast B-Budget Indian subscription issue ISSCC +330K

  5. 2012 Budget Net Surplus (Deficit), $K • Major Assumptions • ISSCC attendance of 2600 (vs. 2011 actual of 2982) • $245K net surplus budget (vs. 2011 actual of 614k) • Design $ Test Magazine 17k Drop in subscription India issue Lower ad. Income 10k Higher printing/postage 36k May drop further (34k) due to free SSCS membership for ISSCC attendees Exec. Office salary overlap +26k Design & Test Mag. +17k Predoctoral -25k Volunt. Travel + Chapter committee +10k Marketing -10k Tax&travel +15k

  6. SSCS Reserve Trend Reserve forecast back over $5M in 2011 forecast budget

  7. SSCS Reserve-to-Expense Ratio Trend 2010 reserve=4932.3k forecast budget

  8. Summary and Outlook • The forecast for ‘11 is robust • Net surplus of 381k expected in ’11 (w/o interest income) • The financial outlook for ‘12 is of some concern • IEEE Indian vendor situation + additional expenditures put out net surplus 200k below ‘11 • Economy may affect 2012 ISSCC attendance • Need to be conservative in spending

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