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Concentration
Banking Program
The Concentration Banking Program offers IEEE's
Organizational Units and Conferences a bank
account with no monthly fees, unlimited check
writing privileges, and no minimum balance
requirements. The unit or conference
Treasurer controls the account activity by writing
checks and making deposits. Each
treasurer receives their own checkbook and
sends their deposits directly to the bank.
In conjunction with the IEEE Conference Services Department, the IEEE Operations Audit Department (OA) has developed a budgeting tool and a standard chart of accounts for use by conference planners in preparing conference budgets and keeping track of conference income and expenses in QuickBooks Pro, respectively. OA has also developed a conference final financial report form in Excel that is linked to the reports generated by QuickBooks Pro, making the preparation of conference final financial reports virtually automatic. At your request, the Conference Services Department will provide you the budgeting tool, the chart of accounts, the Excel files for the final financial reports and the associated instructions for the use of these tools. In addition, at your option the IEEE Conference Management Services Department can provide you a full menu of services in support of your conferences at very competitive fees.
The IEEE Operations Audit Department is prepared to
audit your conference financial statements and
provide you an excellent rate for this service.
All conferences with budgeted/actual
revenues/expenses of $100,000 or more are
required to have an audit of their financial
statements by a professional independent
outside source. Conferences with revenues of
less that $100,000 will be audited on a rotational
basis. In either case, the audit can be
arranged by the IEEE Audit Department, or you may
deal directly with an outside source.
If your Section or Chapter is planning a major meeting or conference which involves a contract with a hotel for sleeping rooms, function space, and meals, take advantage of the expertise available at IEEE before you sign anything. Your contract will be reviewed for items which might increase your Section's liability beyond an acceptable level (e.g., did you commit to too large a room block? Is your guarantee for food and beverage realistic? Are the penalties the hotel can impose fair?) A knowledgeable review can save your Section from many potential problems.
Contracts in excess of $25,000 must be
reviewed by the IEEE Procurement department.
IEEE Units may negotiate contracts with a
value of $25,000 or above, but should not give
final approval or "execute" contracts.
IEEE Financial Advantage Program The Financial Advantage Program (FAP) is a complete package of resources and benefit opportunities available exclusively to IEEE members and their families. It allows access to insurance plans, investment programs, credit cards, business and home services, and much more! Presently, your access to various components of the program depends upon where you live. Efforts are underway to extend access to as much of the program as possible to as many IEEE members as possible. Watch IEEE Spectrum, The Institute and the website at www.ieee.org/fap for updates about the Program.
The benefits of the IEEE FAP are so competitive that
it is worth being an IEEE member just to have
access to them. The program should be featured
in any Membership Development project your Section
undertakes.
Financial Monitoring of Conferences IEEE Policy requires that all IEEE entities who organize Conferences, Symposia, Workshops, Tutorials, Short Courses, Expositions & Conventions with budgeted income/expense greater than $25,000 USD to submit their budgets for ExCom approval. Technical Activities-Conference Services is the only entity with a mechanism to provide budget approval and final financial review (See "Audit Services").
Fees : all IEEE entities involved in
conferences will be charged a nominal fee based on
the type of sponsorship. A conference
profile sheet must be completed in full to
receive pricing specific to your conference needs.
An IEEE Conference Management Professional
will be happy to assist you in determining your
individual conference needs and pricing upon
completion of the profile
form.
This program provides added incentive for Sections to submit required reporting in a timely manner by offering substantial financial rebates.
Eligibility for benefits - which include an annual
allowance, per capita membership
rebates, Chapter rebates, Affinity Group
rebates, Subsection rebates, activity bonus
and a 10% bonus for reporting by the February
deadline - is based on officer, financial, and
meeting activity reporting.
The Society Chapter Funding Guide details the dissemination of available funds and other support from the technical Societies for their Chapters. The information comes directly from the Societies, and is intended to provide a general idea of each Society's support and application of funding, speakers programs, travel subsidy, etc.
Additional information desired on any
Societies’ activities should be
requested from the Society Chapter Coordinator in
the Technical Activities Department.
IEEE Travel Services, available to you 24 hours a day, 7 days a week…. IEEE Travel goes the extra miles for you, more than today’s no service Internet travel sites. Backed by the IEEE’s buying power, IEEE Travel Services has exclusive rates with our preferred vendors; Continental, United, and American Airlines; Avis, Budget, Enterprise and Hertz Rental Cars. The Travel team also offers substantial benefits with other carriers, and discounts off hotels worldwide. No time for phone calls? No problem - they offer you an online booking option, 24 hours a day, 7 days a week. You can search availability, pricing, select your seat, and complete your booking without ever placing a call. A detailed itinerary summarizing your purchase will be sent to you within 24 hours of booking. Other services available through IEEE Travel are Visa and Passport Service, Travel Protection Insurance, Internet Fare Searches, and much more. To obtain your member discounts, travel arrangements must be made through IEEE Travel Services. In nearly every case, IEEE Travel Services beats the prices available through other services. Find out how they can help you get where you need to be:
Treasurer's Handbook AND FINANCIAL OPERATIONS MANUAL The " Treasurer's Handbook" is a helpful web-based guide containing information about the responsibilities of an IEEE Unit Treasurer, the proper way to open bank accounts, principles of financial operations at IEEE, suggested record retention schedule and more. These web pages will answer many questions regarding IEEE Unit fiscal responsibility and contain contact information for the appropriate staff in case you have further questions.
The " Financial
Operations Manual" is a formal
document detailing IEEE policy on various financial
issues.
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