Financial Report (L50)

Please read the "Seven Easy Steps for Preparing the L50" before beginning to complete the L50 form. 

The L50 financial report form has been specifically designed for geographic unit use, including built in formulas.  Please do not attempt to change the form in any way.  If you feel it does not meet your needs or if you have any problems, please e-mail MGA Finance Staff.

Macro warning: When opening the file, if you receive a message warning about macros, please be assured that you can trust the integrity of the files.  The warning may be ignored.

E-mail the completed L50 form, checklist, applicable bank signature cards, and bank and investment statements to the IEEE Member and Geographic Activities (MGA) Department.

Scanned and electronically submitted forms are sufficient for reporting requirements.  There is no need to mail hard copies with the same information.  Original bank statements (not IEEE Concentration Banking and Investment Accounts) must be provided.  Some banking institutions do not provide hard copies of the banking statements.  If your unit is not able to provide the original bank statement with your financial report, please e-mail MGA Finance Staff.

The L50 and supporting documents can also be submitted via fax:

+1 732 463 3657

or, mail to:

IEEE MGA Department
Finance Administrator
445 Hoes Lane
Piscataway, NJ 08854 USA

Section and council treasurers are responsible for submitting the 2009 L50 financial report form for their unit and any subunits (subsections, technical chapters, and/or affinity groups), by 19 February 2010.  

Units submitting reports later than 31 March 2010 will not receive rebate payment for 2009 activity.  

If the section or council is unable to obtain financial records from a subunit, it may opt to submit a statement that the subunit has failed to submit a timely financial report and waive its right to a rebate for that particular subunit.  Delinquent subunits may be subject to probation or even dissolution.

If all reports are submitted or postmarked by the February deadline, your unit will earn an additional 10% bonus to the total rebate.  However, if the information submitted is not complete or contains errors, and if corrections are not submitted within 60 days of a written request, the 10% bonus will be forfeited.  The written request provided by IEEE will clearly state what action is expected, the date by which it must be submitted, and the consequence if not submitted.

Chapters/affinity groups
Income and expense information and year end bank statements (if applicable) should be submitted to your Section's Treasurer as soon as possible after 31 December, for consolidation into the Section L50.