Form L50 Step by Step Instructions

Table of Contents
*** Please show all amounts in local currency on all schedules.***
Send questions/comments to financial-report@ieee.org

Schedule I - Receipts and Expenses:

Page 1 of 3 - Receipts
Page 2 of 3 - Expenses
Page 3 of 3 - Net Receipts (Expenses) and Reconciliation to Cash Accounts

Schedule II - Assets, Liabilities and Net Worth

Schedule III - Analysis of Other Receipts (Line 3.00 - Schedule I)

Schedule IV - Analysis of Program Expenses and Management / General Expenses

Schedule V - Analysis of Purchases and Sales:

Page 1 - Investments
Page 2 - Furniture and Equipment and Depreciation

Schedule VI - Analysis of "Cash" Loans and Advances Receivables/Payables:

Page 1 - Cash Loans/ Advances Receivable/ Payable
Page 2 - Accrued Accounts Receivable/ Payable

Schedule VII - Reconciliation of Checkbook to Bank Statements

General Information and Certification Schedule

SCHEDULE I - RECEIPTS AND EXPENSES
Page 1 of 3

Did your Unit have any Cash Receipts or Accruals in the current year that are required to be reported within Section A, Schedule I? o Yes o No

If you answered "No," disregard this schedule, and proceed to Section B, Schedule I. If you answered "Yes," please complete the applicable Lines of Section A, Schedule I using the step-by-step instructions noted below:

SECTION A - RECEIPTS: If using currency other than U.S. Dollars, please enter the name of the local currency used in the box provided on this Schedule.

STEP #1	If you received cash during the year for Contributions (Line 1.00), Program Revenue (Line 2.00) or Other Receipts (Line 3.00), enter the amounts under Column A. If the "Other Receipts" lines require that Support Schedule III or V be completed, prepare the support schedule first before forwarding the line balances to Schedule I.
STEP #2	If you have earned/ pledged receipts for Contributions (Line 1.00), Program Revenue (Line 2.00) or Other Receipts (Line 3.00) which are expected to be received after year-end, enter the amounts under Column B. If the "Other Receipts" lines require that Support Schedule III or V be completed, prepare the support schedule first before forwarding the line balances to Schedule I. Remember, if you enter an amount in Column B, you should also have an entry on Schedule VI, Pg. 2-Analysis of Accrued Accounts Receivable.
STEP #3	Under Column C, enter the total of amounts reported for Columns A plus B.
STEP #4	Enter the totals for Columns A through C : Contributions (Line 1.00), Program Revenue (Line 2.00), Other Receipts (Line 3.00), and Section A – Total Receipts.

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SCHEDULE I - RECEIPTS AND EXPENSES
Page 2 of 3

Did your Unit have any Cash Expenses or Accruals in the current year that are required to be reported within Section B, Schedule I? o Yes o No

If you answered "No," disregard this schedule, and proceed to Section C & D, Schedule I. If you answered "Yes," please complete the applicable Lines of Section B, Schedule I using the step-by-step instructions noted below:

SECTION B - EXPENSES:

STEP #1	If you paid cash during the year for Program Expenses (Line 4.00), Management & General Expenses (Line 5.00) or Fundraising Expenses (Line 6.00), enter the amounts under Column A. If any of the expense line items require that Support Schedule IV or V be completed, prepare the support schedule first before forwarding the line balances to Schedule I.
STEP #2	If you’ve incurred expenses for Program Expenses (Line 4.00), Management & General Expenses (Line 5.00) or Fundraising Expenses (Line 6.00), which are expected to be paid after year-end, enter the amounts under Column B. If the expense line items require that Support Schedule IV or V be completed, prepare the support schedule first before forwarding the line balances to Schedule I. Remember, if you enter an amount in Column B, you should also have an entry on Schedule VI, Pg. 2-Analysis of Accrued Accounts Payable.
STEP #3	Under Column C, enter the total of amounts reported for Columns A plus B.
STEP #4	Enter the totals for Columns A through C : Program Expenses (Line 4.00), Management & General Expenses (Line 5.00), Fundraising Expenses (Line 6.00) and Section B – Total Expenses.

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SCHEDULE I - RECEIPTS AND EXPENSES
Page 3 of 3

Did your Unit have any Receipts, Disbursements or Accruals in the current year that affect Fixed Assets, Investments & Liabilities which are required to be reported within Sections C, D or E, Schedule I? o Yes o No

If you answered "No," disregard these schedules, and proceed to Schedule II. If you answered "Yes," please complete the applicable Lines of Section C, D and E of Schedule I using the step-by-step instructions noted below:

SECTION C - RECEIPTS & DISBURSEMENTS AFFECTING ASSETS AND LIABILITIES:

STEP #1	For Lines 7.10 through 7.40, enter the balances from Support Schedule V, pages 1 and 2 & Support Schedule VI, pages 1 and 2, to Column A. The support schedules must be completed first before the balances are forwarded to Section C of Schedule I.
STEP #2	For Lines 8.10 through 8.40, enter the balances from Support Schedule V, pages 1 and 2 & Support Schedule VI, pages 1 and 2, to Column A. The support schedules must be completed first before the balances are forwarded to Section C of Schedule I.
STEP #3	Enter the totals under Columns A through C for Line 7.00, and Line 8.00. Also, enter the totals for Columns A through C for the Total Section C-Net Receipts (Disbursements).

SECTION D - TOTAL NET RECEIPTS (EXPENSES) - SECTION A, B AND C:

STEP

For Columns A, B and C, enter the totals of Sections A, B and C.

SECTION E - RECONCILIATION TO CASH ACCOUNTS:

STEP #1	On Line E-1, enter the Cash on Hand at the Beginning of the Year in Column A. This amount should agree to the Ending Cash on Hand, Line E-2, Schedule I of the prior year’s L-50 Report.
STEP #2	Add the total under Column A of Section D with Line E-1, noted in Step #1 above, and enter on Line E-2. The total of Line E-2 should agree to Line A, Column D, Schedule II-Statement of Net Worth.

Upon completing Schedule I, proceed to Schedule II

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SCHEDULE II - STATEMENT OF NET WORTH

Did your Unit have any Assets or Liabilities in the current year that are required to be reported on Schedule II? o Yes o No

If you answered "No," disregard this schedule. If you answered "Yes," please complete the applicable sections of Schedule I using the step-by-step instructions noted below:

ASSETS SECTION:

STEP #1	Lines A through D in the Asset Section require that you first complete the Support Schedules V, VI, and VII. Once the support schedules are complete, transfer the values for each Line item as instructed on the support schedules.
STEP #2	Support Schedule VII-Reconciliation of Checkbook to Bank Statements, is an analysis of all of the Unit’s Cash Accounts (Line A). Since Schedule VII only analyzes the December 31st cash balances, and the total cash value is only transferred to Line A, Column D (year-end balance), the Treasurer should enter the beginning balance of all cash accounts on Line A, Column A. If the total cash accounts have increased during the year, enter the increase under Column B, Line A. If the total cash accounts have decreased during the year, enter the decrease under Column C, Line A.
STEP #3	Line E, "Other Assets ": If your Unit has other assets not included under Lines A through D, enter the total amount of the other assets under Line E, Columns A through D. The Treasurer should then provide an attachment which lists the other assets, and the activity and balances for the current year. This line was previously used to report "Prepaid Postal Deposits." These expenses should now be reported as current period expenses on Schedule I.
STEP #4	Enter the Total Assets for Columns A through D on Line F. Make sure that Column A plus Column B less Column C = Column D.
STEP #5	Lines A, "Cash Accounts," and B, "Investments," should have bank statements & investment statements attached to confirm the value of their balances.

LIABILITIES & NET WORTH SECTION:

STEP #1	Line G-Loans, Advances & Accounts Payables in the Liability Section requires that you first complete Support Schedules VI. Once this support schedule is completed, transfer the values for Line G as instructed on the Schedule VI.
STEP #2	Line H-Other Liabilities: if your Unit has other liabilities not included under Line G, enter the total amount of the other liability under Line H, Columns A through D. An attachment should be provided which lists the other liabilities, and the activity and balances for the current year.
STEP #3	Enter the Total Liabilities for Columns A through D on Line I. Make sure that Column A plus Column B less Column C = Column D.
STEP #4	Line J: Enter the Net Worth for Columns A through D. The Net Worth is equal to Line F less Line I. Also, make sure that Column A plus Column B less Column C = Column D.

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SCHEDULE III - ANALYSIS OF OTHER RECEIPTS

Did your Unit have any activity in the current year for the following income items that require reporting on Schedule I, Section A, Line 3.00 - Other Receipts:

Regional Receipts?	o Yes	o No
Section or Council Receipts?	o Yes	o No
MGA Board / Other Major Board Receipts?	o Yes	o No
IEEE Hq. / Societies Receipts?	o Yes	o No
Other Miscellaneous Receipts?	o Yes	o No

If you answered "No" to all of the above items of income, disregard this schedule. If you answered "Yes" to any one of the above income items, please complete this schedule using the step-by-step instructions below:

STEP #1	For each Line item receipt, complete the descriptive information that’s required under the Purpose column, and enter the applicable IEEE Unit/Group for Lines 3.20 through 3.34, and Non-IEEE Entity/Group under Line 3.70.
STEP #2	If the receipt was received in cash within the reporting period, enter the amount under the Cash Amount column.
STEP #3	If the receipt was either pledged or in the process of being received, but the cash was not received in the reporting period, enter the amount under the Accrued Amount column. Any amounts entered in the accrued column should also represent an increase in Accounts Receivable-Schedule VI, page 2 of 2, under Column B.
STEP #4	Once you’ve entered the details for the type of receipts listed on Schedule III, total the columns (both Cash & Accrued) for each of the Other Receipts.
STEP #5	Transfer the Other Receipts totals to the applicable lines (Lines 3.20 through 3.70) within Section A of Schedule I under the Cash and Accrued Columns.

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SCHEDULE IV - ANALYSIS OF PROGRAM EXPENSES AND MANAGEMENT / GENERAL EXPENSES

Did your Unit have any activity in the current year for the following expense items that require reporting on Schedule I, Section B, Lines 4.00 & 5.00:

Other Program Expenses?	o Yes	o No
Support to Sections & Chapters?	o Yes	o No
Support to Regions?	o Yes	o No
MGA Board/ Major Board Expenses?	o Yes	o No
IEEE HQ. / Society Expenses?	o Yes	o No
Other Management & General Expenses?	o Yes	o No

If you answered "No" to all of the above expense items, disregard this schedule. If you answered "Yes" to any one of the above expense items, please complete this schedule using the step-by-step instructions below:

STEP #1	For each Line item expense, complete the descriptive information that’s required under the Purpose column, and enter the applicable IEEE Unit/Group for Lines 4.90 through 5.56, and Non-IEEE Entity/Group under Line 5.60.
STEP #2	If the expense was paid in cash within the reporting period, enter the amount under the Cash Amount column.
STEP #3	If the expense was incurred or in the process of being paid, but the cash was not paid in the reporting period, enter the amount under the Accrued Amount column. Any amounts entered in the accrued column should also represent an increase in Accounts Payable-Schedule VI, page 2 of 2, under Column B.
STEP #4	Once you’ve entered the details for the type of expenses listed on Schedule IV, total the columns (both Cash & Accrued) for each of the Program or Management / General Expenses.
STEP #5	Transfer the expense totals to the applicable lines (Lines 4.90 through 5.60) within Section B, of Schedule I under the Cash and Accrued Columns.

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SCHEDULE V - ANALYSIS OF PURCHASES AND SALES
Did your Unit have any activity in the current year for the following items that require reporting on Schedules I and II:

REGARDING PAGE 1 OF 2 - INVESTMENTS
Investment Balances & Purchases	o Yes	o No
Sales of Investments	o Yes	o No

REGARDING PAGE 2 OF 2 - FURNITURE AND EQUIPMENT
Furniture & Equipment Balances & Purchases	o Yes	o No
Sales of Furniture & Equipment	o Yes	o No
Depreciation on Furniture & Equipment	o Yes	o No

If you answered "No" to all of the above items, disregard this schedule. If you answered "Yes" to any one of the above items, please complete the applicable section of Schedule V using the step-by-step instructions noted below:

PAGE 1 OF 2 - INVESTMENTS SECTION, COST BASIS SCHEDULE:

STEP #1	Enter a brief description of all the Investments held by your Section; this includes any IEEE Short Term or Long Term Investment Funds.
STEP #2	Under Column A, enter the "cost" balance at the beginning of the year for each investment listed, which should agree to the "cost" balance you reported at the end of the prior year. With regard to IEEE Investments, the new revised Investment Statement will provide the cost balance at the beginning and end of year. If the cost balance doesn’t agree to your Unit’s investment records, please contact the IEEE Treasury Dept.
STEP #3	Under Column B, enter the amount of any purchases made in the current year for each investment listed (if any). Purchases include dividend/interest reinvestments. For IEEE Investments, this information is available on the IEEE Investment Statement that is provided to your Unit at year-end.
STEP #4	Under Column C, enter the Section’s cost basis of each investment that was sold, or redeemed during the current year (if any). Cost basis is normally the purchase price of the investment plus reinvestment of dividends/interest relative to the investment that was sold. This information can be obtained from the IEEE Investment Statement for investments that the Unit holds in IEEE Investment accounts.
STEP #5	Under Column D, enter the year-end cost basis balance of each investment. The balance should equal Col. A plus Col. B less Col. C.
STEP #6	Under Column E, enter the gross sales price your Section received on the "Sale or Redemption" of each investment (if any). For IEEE Investments, the Gross Sales Price can be obtained from the IEEE Investment Statement.
STEP #7	Under Column F, enter the "Gain" or "(Loss)" incurred on the sale or redemption of each investment (if any). Gain or loss is determined by the value of Column E less Column C for each investment sold in the current year. For IEEE Investments, the "Gain" or "(Loss)" can be obtained from the IEEE Investment Statement.
STEP #8	Total columns A through F, and transfer the value of Col. F to Line 3.60, Col. A, Sch. I, as indicated just below the total section.

SCHEDULE V - ANALYSIS OF PURCHASES AND SALES

PAGE 1 OF 2 - INVESTMENTS SECTION-MARKET VALUE BASIS SCHEDULE:

STEP #1	Enter a brief description of all the Investments held by your Section; this includes any IEEE Short Term or Long Term Investment Funds.
STEP #2	Under Column A, enter the "market value" balance at the beginning of the year for each investment listed, which should agree to the "market value" balance you reported at the end of the prior year. With regard to IEEE Investments, the new revised Investment Statement will provide the market value balance at the beginning and end of year.
STEP #3	Under Column B, enter the amount of any purchases made in the current year for each investment listed (if any). Purchases include dividend/interest reinvestments. For IEEE Investments, this information is available on the IEEE Investment Statement that is provided to your Unit at year-end.
STEP #4	Under Column C, enter the Section’s cost basis of each investment that was sold, or redeemed during the current year (if any). Cost basis is normally the purchase price of the investment plus reinvestment of dividends/interest relative to the investment that was sold. This information can be obtained from the IEEE Investment Statement for investments that the Unit holds in IEEE Investment accounts.
STEP #5	Under Column D, enter the market value "unrealized" gains from your Unit’s investments at year-end. . The amount is determined by first adding the amounts in Columns A and B, and reduced by the amounts in Column C. If this net amount is less then the year-end market value of the investment, enter the market value increase (Unrealized Gain) in Column D. For IEEE Investments, the unrealized gain amounts can be obtained from the IEEE Investment Statement.
STEP #6	Under Column E, enter the market value "unrealized" losses from your Unit’s investments at year-end. The amount is determined by first adding the amounts in Columns A and B, and reduced by the amounts in Column C. If this net amount is more than the year-end market value of the investment, enter the market value decrease (Unrealized Loss) in Column E. For IEEE Investments, the unrealized loss amounts can be obtained from the IEEE Investment Statement.
STEP #7	Under Column F, enter the year-end market value balance of each investment. The balance should equal Col. A plus Col. B less Col. C plus Col. D and less Col. E. For IEEE Investments, the balance at year-end should agree to the year-end market value on the IEEE Investment Statement.
STEP #8	Total columns A through F, and transfer the values of each column to the applicable Report Lines as indicated just below the totals sections.

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SCHEDULE V - ANALYSIS OF PURCHASES AND SALES

PAGE 2 OF 2 - FURNITURE & EQUIPMENT SECTION:

STEP #1	Enter a brief description of the Furniture and Equipment owned.
STEP #2	Under Column A, enter the balance at the beginning of the year for each Asset listed, which should agree to the balance you reported at the end of the prior year.
STEP #3	Under Column B, enter the amount of any purchases made in the current year for each Asset listed (if any).
STEP #4	Under Column C, enter the Section’s cost basis of each Asset that was sold, or otherwise disposed during the current year (if any). Cost basis is normally the purchase price of the asset.
STEP #5	Under Column D, enter the year-end balance of each Asset. The balance should equal Col. A plus Col. B less Col. C.
STEP #6	Under Column E, enter the gross price your Section received on the "Sale or Disposal" of each Asset (if any).
STEP #7	Under Column F, enter the "Gain" or "(Loss)" incurred on the sale or disposal of each asset (if any). Gain or loss is determined by the value of Column E less Column C for each Asset.
STEP #8	Total columns A through F, and transfer the values of Columns A through D to the applicable Report Lines as indicated just below the totals sections.

PAGE 2 OF 2 - DEPRECIATION SECTION:

STEP #1	Enter a brief description of the Furniture and Equipment owned and depreciated by your Section.
STEP #2	Under Column A, enter the Accumulated Depreciation balance at the beginning of the year for each Asset listed, which should agree to the balance you reported at the end of the prior year.
STEP #3	Under Column B, enter the current year’s depreciation amount for each Asset listed (if any). [See Treasurers Handbook for Depreciation Method.]
STEP #4	Under Column C, enter the Section’s amount of "accumulated depreciation" of each Asset that was sold, or otherwise disposed during the current year (if any).
STEP #5	Under Column D, enter the year-end balance of accumulated depreciation for each Asset. The balance should equal Col. A plus Col. B less Col. C.
STEP #6	Total columns A through D, and transfer the values of Columns A through D to the applicable Report Lines as indicated just below the totals sections.

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SCHEDULE VI - ANALYSIS OF "CASH" LOANS AND ADVANCES RECEIVABLES / PAYABLES
Page 1 of 2

Did your Unit have any activity in the current year for the following items that require reporting on Schedules I and II:

Loans or Advances made to Other Units?	o Yes	o No
Loans or Advances received from Other Units?	o Yes	o No

If you answered "No" to both of the above items, disregard this schedule. If you answered "Yes" to any one of the above items, please complete the applicable section of Schedule VI, Page 1 of 2, using the step-by-step instructions noted below:

CASH LOANS AND ADVANCE RECEIVABLES SECTION:

Step #1	Enter a brief description of the Loan or Advance receivable made by your Section to another IEEE Unit or person. Enter the unit or person’s name or description (indicate the Chapter, Section, Region, Member, etc.)
STEP #2	Under Column A, enter the balance at the beginning of the year for each loan or advance receivable listed, which should agree to the balance you reported at the end of the prior year.
STEP #3	Under Column B, enter the amount of any additional or new cash loans or advances your Section made to another unit/person in the current year (if any).
STEP #4	Under Column C, enter the amount of cash received during the current year (if any) for each loan or advance receivable that you’ve listed.
STEP #5	Under Column D, enter the year-end balance of each loan or advance receivable. The balance should equal Col. A plus Col. B less Col. C.
STEP #6	Total columns A through D, and transfer the values to the applicable Report Lines as indicated just below the totals sections.

CASH LOANS AND ADVANCE PAYABLES SECTION:

STEP #1	Enter a brief description of the Loan or Advance payable your Section received with regard to another IEEE Unit or person. Enter the unit or person’s name or description (indicate the Chapter, Section, Region, Member, etc.)
STEP #2	Under Column A, enter the balance at the beginning of the year for each loan or advance payable you’ve listed, which should agree to the balance you reported at the end of the prior year.
STEP #3	Under Column B, enter the amount of any additional or new cash loans or advances your Section received in the current year (if any).
STEP #4	Under Column C, enter the amount of cash paid during the current year (if any) towards the repayment of each loan or advance payable that you’ve listed.
STEP #5	Under Column D, enter the year-end balance of each loan or advance payable. The balance should equal Col. A plus Col. B less Col. C.
STEP #6	Total columns A through D, and transfer the values to the applicable Report Lines as indicated just below the totals sections.

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SCHEDULE VI - ANALYSIS OF "ACCRUED" ACCOUNTS RECEIVABLES / PAYABLES
Page 2 of 2

Did your Unit have any activity in the current year for the following items that require reporting on Schedules I and II:

Accrued Accounts Receivables?	o Yes	o No
Accrued Accounts Payables?	o Yes	o No

If you answered "No" to both of the above items, disregard this schedule. If you answered "Yes" to any one of the above items, please complete the applicable section of Schedule VI, Page 2 of 2, using the step-by-step instructions noted below:

ACCRUED ACCOUNTS RECEIVABLES SECTION:

STEP #1	Enter a brief description of the Accounts Receivable made by your Section to an IEEE Unit or person, or any unrelated company or person. Enter the unit, company or person’s name or description.
STEP #2	Under Column A, enter the balance at the beginning of the year for each accounts receivable listed. This should agree to the balance you reported at the end of the prior year.
STEP #3	Under Column B, enter the amount of any additional or new accounts receivables your Section accrued in the current year (if any).
STEP #4	Under Column C, enter the amount of cash received during the current year (if any) with regard to the accounts receivable that you’ve listed.
STEP #5	Under Column D, enter the year-end balance of each accounts receivable. The balance should equal Column A plus Column B less Column C.
STEP #6	Total columns A through D, and transfer the values to the applicable Report Lines as indicated just below the totals sections.

ACCRUED ACCOUNTS PAYABLES SECTION:

Step #1	Enter a brief description of the Accounts Payable incurred by your Section with an IEEE Unit or person, or any unrelated company or person. Enter the unit, company or person’s name or description.
STEP #2	Under Column A, enter the balance at the beginning of the year for each accounts payable you’ve listed, which should agree to the balance you reported at the end of the prior year.
STEP #3	Under Column B, enter the amount of any additional or new accounts payables your Section accrued in the current year (if any).
STEP #4	Under Column C, enter the amount of cash paid during the current year (if any) towards the repayment of each accounts payable that you’ve listed.
STEP #5	Under Column D, enter the year-end balance of each accounts payable. The balance should equal Column A plus Column B less Column C.
STEP #6	Total columns A through D, and transfer the values to the applicable Report Lines as indicated just below the totals sections.

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SCHEDULE VII - RECONCILIATION OF CHECKBOOK TO BANK STATEMENT AS OF THE END OF THE YEAR

Did your Unit have any of the following bank or cash accounts in the current year that require reporting on Schedule II:

Did your Unit have any Checking Bank Accounts?	o Yes	o No
Did your Unit have any Savings/CDs Bank Accounts?	o Yes	o No
Did your Unit have Other IEEE Cash Accounts or Custody Account?	o Yes	o No
Did your Unit have any Petty Cash?	o Yes	o No

If you answered "No" to all of the above items, disregard this schedule. If you answered "Yes" to any one of the above items, please complete the applicable section of Schedule VII, using the step-by-step instructions noted below:

SECTION A - CHECKING ACCOUNTS RECONCILIATION:

STEP #1	Enter the Bank Checking Account identification numbers in the applicable column.
STEP #2	Enter the Bank names where you have a checking account in the applicable column
STEP #3	Under Column (a), enter your Unit’s checkbook year-end balance for each checking bank account.
STEP #4	Under Column (b), enter any outstanding checks or debit transactions that have not cleared the bank at year-end.
STEP #5	Under Column (c), enter any outstanding deposits or credit transactions that have not cleared the bank at year-end.
STEP #6	Under Column (d), enter the Unit’s Bank account balance at December 31st as reported on the Bank’s year-end checking account statement.

SECTION B - SAVINGS & TIME DEPOSITS (CD) RECONCILIATION:

STEP #1	Enter the Bank Savings Account identification numbers in the applicable column.
STEP #2	Enter the Bank names where you have a savings account or time deposit in the applicable column
STEP #3	Under Column (a), enter your Unit’s savings book or time deposit year-end balance for each account.
STEP #4	Under Column (b), enter any outstanding withdrawls or debit transactions that have not cleared the bank at year-end.
STEP #5	Under Column (c), enter any outstanding deposits or credit transactions that have not cleared the bank at year-end.
STEP #6	Under Column (d), enter the Unit’s Bank account balance at December 31st as reported on the Bank’s year-end savings/time deposit account statement or a letter from the bank confirming the balance at year-end.

SECTION C - PETTY CASH:

STEP

Under Column (a), enter all cash held personally by the Unit Treasurer.

SECTION D & E* – OTHER IEEE ACCOUNTS:

STEP #1	Under Column (a), enter the other IEEE Account Balance at December 31st.
STEP #2	In the space provided next to Column (a) for the Other IEEE Accounts, enter the description of the type of IEEE account.

*SECTION E – CUSTODY ACCOUNTS (only for Sections in R 8 - 10 that have Custody Accounts):

STEP #1	Under Column (a), enter the IEEE Custody Account Balance in Local Currency at December 31st.
STEP #2	In the space provided next to Column (a) for Custody Accounts, enter the Custody Account Number, and the year-end balance of the account in U.S. Dollars.

TOTAL CASH & DEPOSITS:

STEP #1	Total the balances in Column (a) for Sections A through E, and enter the total in the Total Cash & Deposits Line.
STEP #2	Transfer the balance determined from Step #1 above to Line A, Column D, Schedule II.

BANK ACCOUNT STATEMENTS – CHECKING AND SAVINGS ACCOUNTS:

STEP

If you’ve reported Checking, Savings or Time Deposit Accounts, please make sure you attach the year-end bank statements to Schedule VII.

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GENERAL INFORMATION AND CERTIFICATION SCHEDULE

The preparation of this schedule is mandatory, and must be included with the Form L50 Financial Report when returned to the IEEE Financial Services Tax Group. The information you provide on this schedule assists us in determining whether your Unit has received basic audit reviews, filed various Tax Returns or reports, and certifies that the financial reports submitted were prepared and reviewed in accordance with IEEE guidelines. The following are step-by-step instructions for completing this schedule:

STEP #1	Enter the Unit Number and Name in the spaces provided. Note you must provide information for the 2008 and 2009 Chair & Treasurer.
STEP #2	Complete the 2008/2009 Treasurer Profile including Name, Term of Office, Telephone and FAX numbers, and E-mail address. All officers must sign and date in the spaces provided in this profile. The 2008 Treasurer's signature certifies that the Form L50 Report was prepared in accordance with IEEE Policies.
STEP #3	Complete the 2008/2009 Chair's Profile including Name, Term of Office, Telephone and FAX numbers, and E-mail address. The 2008 Chair, after reviewing the completed Form L50 Report, should sign and date in the spaces provided in this profile. Remember, the Chair's signature certifies that the financial report is accurate, and authorizes IEEE to include the financial information in IEEE’s annual information filing to the Internal Revenue Service.
STEP #4	Audit Review Profile. Under this profile, put an "X" in the box that applies: Independent Auditor - Units that have annual revenues or expenses of U.S.$100,000 or more require an independent audit. A copy of the audit report will be required upon completion and issuance of the report. Internal Audit Committee.
STEP #5	Registration & Tax Compliance Profile - Please place an "X" in the appropriate box that indicates if your unit is registered with local governmental authorities (within your country)

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