Financial Report and Recommendations for IEEE Central Texas Section
Explore the financial results, highlights, and plans for the IEEE Central Texas Section in 2015 and 2016. Gain insights into revenue, expenses, budget allocations, and strategic recommendations for optimizing financial operations in the future.
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Presentation Transcript
Treasurer Financial Committee Report CTS Spring Planning Meeting San Marcos January 16, 2015 Don Drumtra Drumtra@ieee.org 512-291-0315 IEEE Central Texas Section
Overview 2015 Financial Results 2016 Financial Plan 2001-2016 Planned Reserves 2016 Highlights 2016 Financial Plan Approval (The plan was provided via email) IEEE Central Texas Section
2015 Financial Results Revenue $ 83,346 $ 91,809 $ (8,463) 123.376 86,333 (1,974) Expenses Results Planned Act Cash Investment 36,943 (1,974) 0 Total 122,100 86,333 35,787 Investment losses are unrealized. IEEE Central Texas Section
CTS Financial Plan Highlights for 2016 Revenue Expenses Net Budget Chapter Operations SecCom Operations Chapter Travel Section Travel Conferences Workshops Events Student Branches $ 14,815 27,044 4,700 14,000 12,500 3,700 14,800 39,620 12,000 (12,229) (4,700) (6,000) (12,250) (2,700) 4,600 (4,845) (12,000) 0 8,000 0 1,000 19,400 37,525 0 IEEE Central Texas Section
CTS Financial Plan Highlights for 2015 Revenue Expenses Net Budget Awards SecCom, ExCom, Award Meetings Student Branches Education K-12 Investments 0 1,171 (1,171) 0 8,000 (6,075) 0 0 12,000 1,300 (12,000) (1,300) 2,000 2,000 0 Rebate 23,000 0 23,000 IEEE Central Texas Section
CTS Financial Plan Highlights for 2015 Revenue Expenses Net Budget (38,574) TOTAL 106,490 145,064 IEEE Central Texas Section
2001-2016 Reserves 180000 160000 140000 120000 100000 3 times Annual Rebate $69,000 80000 60000 40000 20000 0 2001 2003 2005 2007 2009 2011 2013 2015 IEEE Central Texas Section
Recommendations Meetings: Select cost effective venues Workshops, symposia: plan for at least a 20% surplus Travel: Limit trips to essential days. All activities: Secure company and society funding IEEE Central Texas Section
CTS Financial Plan Approval CTS Executive Committee All Section Officers (Chairman, two Past Chairmen, VP- Austin, VP-San Antonio, Secretary, Treasurer, Manager of Electronic Communications) Chairmen of all CTS Chapters and Affinity Groups IEEE Central Texas Section
CTS Financial Planning Process 1. 2. 3. 4. 5. 6. 7. 8. Treasurer calls for input Chapter & Staff officers provide input Treasurer combines with prior year data Treasurer and Chair develop draft fin plan SecComm reviews and approves the plan Treasurer presents the plan to the ExComm Motion to approve budget is automatic ExComm discusses and approves IEEE Central Texas Section
