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This is a set of training modules for Volunteers of IEEE. These volunteer training modules are meant to help volunteers understand how IEEE functions and to explain the many services IEEE has to offer.
How Society/Technical Council Finances are Managed
The following information is available throughout the year to help develop, understand, and manage the Society/Technical Council financials.
- Budgets
- Actuals
- Reports (monthly, Final Operating, adhoc)
- Forecasts
- Periodic updates
In April of the year prior to the budget year, Societies and Councils will receive their budget in Excel format for review and refinement. Budgets are the Society/Technical Councils opportunity to refine parameters and add new initiatives to arrive at the final budget for TAB and IEEE approval.
Actual versus budget financial reports are issued monthly and enable Society/Technical Councils to see where the money is coming from and being spent, thereby allowing for financial management. The year end report are issued in December (pre-close, pre-audit), March (post-close, pre-audit) and May, June (post-close, post-audit). Once per year in November or December, each Society/Technical Councils receives a reserve projection. At the end of the year Society/Technical Councils will receive copies of the December financials.
TAD Staff Forecasts each month but contacts Society/Technical Councils three times per year to provide an opportunity for Society/Technical Councils and staff to identify any potential issues and resolve them before they become a problem.
Questions on Society/Technical Councils Finances may be answered by the TAB Financial Operations Manual, which includes some Society/Technical Councils metrics, overviews of the major lines of business, and links to a number of documents. A valid IEEE Account is required for access.
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