IEEE Contract Administration

Contract Administration Overview

In response to the recommendations received from the Institute's legal counsel and its external auditors, at its 8 May 2000 meeting, the Executive Committee considered several enhancements to financial controls over all IEEE units, including geographic units and conferences. After considering the possible ramifications of these items, the Executive Committee recommended that the Board of Directors approve Policy & Procedures Manual revisions that would require execution of all contracts with an expected value equal to or greater than $25,000 at the Operations Center. This was approved by the Board June 2000.

This recommendation was made as part of an overall plan to improve the Institute's ability to achieve proper fiduciary controls over its financial operations, including those for its geographic units and conferences, and, thereby, among other things, ensure its not-for-profit status under paragraph 501(c)(3) of the Internal Revenue Service Code is retained. This action has the full support of the Institute's legal counsel and external auditors.