11.4 Reserves
IEEE
Reserves are defined as the total unrestricted
accumulated surpluses of all IEEE
Organizational Units. The IEEE Board of
Directors has fiduciary responsibility for,
and the right to direct and control, all IEEE
Reserves.
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Custodial
Responsibility of IEEE
Reserves. Each IEEE Organizational
Unit that generates revenue, or is
authorized by the IEEE Board of Directors to
receive assessments or a portion of IEEE dues,
may have custodial responsibility for a
portion of IEEE Reserves, to the extent
determined from time to time by the
Board of Directors.
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Investment
Returns from IEEE
Reserves. Investment returns from
Reserves may be allocated by the IEEE
Board of Directors to the IEEE Organizational
Units with custodial responsibility for reserves.
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Recommended Levels for IEEE
Reserves. It is the policy of
IEEE to maintain the highest credit rating
possible, and accordingly shall maintain reserve
levels to achieve this objective.
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Spending
Rules. IEEE Organizational
Units may establish budgets that expend portions
of the Reserves under their custodial
responsibility, subject to the
appropriate approvals as specified in the IEEE
Finance Operations Manual.
