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Important information for IEEE Unit Treasurers.


Responsibilities and resources

IEEE is responsible for maintaining accurate and timely financial records for all its units worldwide. By maintaining these records locally in appropriate formats, unit Treasurers assist IEEE in this effort. The consistency, completeness, and accuracy of financial reporting and compliance with IEEE financial policies and procedures are important so IEEE can maintain its nonprofit tax-exempt status with the United States government. 

Geographic units of IEEE are not independent organizations, but are integral parts of IEEE itself. As a result, IEEE is responsible for the consolidation of all unit financial reports into a single financial report for the organization each year. 

No financial activity in the fiscal year? Send an e-mail to Member and Geographic Activities (MGA) Finance staff indicating that no financial activity has been recorded for the given year. Include a copy of any applicable year-end bank statements. If there is no bank account and no financial activity, include this information in your e-mail. Also submit a copy of the "General Information and Certification" form via the MGA Compliance Reporting Web page. (Login required)

A delay in submitting the annual financial report (L50) and any accompanying paperwork will result in significant delays in processing your Section’s rebate. 

Each Subunit must provide a financial report for the fiscal year to the Section (or Council) Treasurer. Subsections, Chapters, and Affinity Groups are Subunits of Sections (alternatively, Chapters and Affinity Groups may be Subunits of a Council). The Section Treasurer should create a consolidated financial report for the Section that includes the financial information related to the Subsections and Chapters. If unable to provide a consolidated report, the Section Treasurer is required to provide separate and complete financial reports for each Subunit. 

All financial reporting should be completed and submitted via NetSuite. This reporting tool allows for both IEEE geographic unit Treasurers and IEEE MGA to accurately track the financial activity of anygeographic unit for any specific period of time.

Please e-mail MGA Finance staff for more information on the annual financial reporting process. Pages which require signatures and copies of backup, such as bank statements, can be scanned and e-mailed, faxed, or mailed.

For your reference, throughout the financial Web pages, notations are made in parenthesis referring to the official source of information. The sources are the IEEE Bylaws and IEEE Policies (PDF, 1657 KB), the MGA Operations Manual, and the Finance Operations Manual (FOM) (PDF, 225 KB).


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