financial report: 2007

IEEE Region 8 Committee Meeting: Malta April 2008

Financial Report: 2007

Brian R HarringtonIEEE Treasurer: Region 8

b.harrington@ieee.org

IEEE Region 8 Committee Meeting: Malta April 2008

Objectives

A Report to the Region 8 Committee

on the Financial Results for year 2007

Factors Affecting Region 8

Budget Proposal for this Year: 2008

IEEE Region 8 Committee Meeting: Malta April 2008

Housekeeping

Use the Region 8 Expense Report:

On the R8 Web Site and I will send a copy

Can be sent to Treasurer by email

Documents and vouchers supporting a

claim can be readable scanned copies

Reviewed

IEEE Region 8 Committee Meeting: Malta April 2008

Audit Proviso

Scanned Copies should be Readable

Originals should be retained until the end of the financial year following

“Scanned Documents Can Count as Audit Evidence where the Appropriate Controls

are in Place”

Cash Increases by $75,07K

Assets Increase by $73,75K

Surplus will be carried forward to 2008 expenses

Our Cash to Investment Ratio is 0.88

Cash (year end) is 0.55 of our proposed 2008 Expense Budget

IEEE Region 8 Committee Meeting: Malta April 2008

Financial Trend

Tre nds: 2001 to 2007

0200

400600

8001000

1200

1 2 3 4 5 6 7

Year: 200x

Fu

nd

s:

US

D

Investment

A ssets

IEEE Region 8 Committee Meeting: Malta April 2008

Financial Trend

Tre nds: 2001 to 2007

0200

400600

8001000

1200

1 2 3 4 5 6 7

Year: 200x

Fu

nd

s:

US

D

Investment

Assets

Sevilla $91K

Edinburgh $97K

Budapest (02) $82K

S.C. (’02) $152K

Iceland $130K

Zagreb $111K

Stockholm

Paris $101K

S.C. (’05) $170K

Vilnius $117K

Belgrade $120K

Sofia $107K

Bucharest $106K

BMS Concerns:

1. Loss of $11,000 on VCF Donations

2. Assessment Income down by $20,000 on expectations

3. One Statement of Assessment and Donations in a period of Eight months

ISBIR

Region 8

Target

IEEE Region 8 Committee Meeting: Malta April 2008

The Future

There will be an increase in IEEE Region Allocation for next year

For Region 8 this will be an increase of 24% to $144,596

Region Allocation

Region 2008 2007 Variance % Increase

1 69,840 59,045 10,435 18%

2 63,094 53,620 9,474 18%

3 81,037 68,499 12,538 18%

4 58,617 49,691 8,926 18%

5 63,973 54,160 9,813 18%

6 98,228 83,554 14,674 18%

7 83,031 69,122 13,909 20%

8 144,596 116,817 27,779 24%

9 94,483 79,067 15,416 19%

10 150,860 119,824 31,035 26%

  907,400 753,399 154,000

IEEE Region 8 Committee Meeting: Malta April 2008

Funding Support

Growth:

Funding:

USD Exchange:

2008 Position after Currency Value Correction

IEEE Region 8 Committee Meeting: Malta April 2008

The Future

There is support from MGA for Sections’ Congress and

For MGA Volunteers’ Training

IEEE Region 8 Committee Meeting: Malta April 2008

Thank You

IEEE R8 Committee Meeting - Belgrade - Oct 2006

Pattern of Funds Receipts

Assessment - 2005

0

20000

40000

60000

80000

1 3 5 7 9 11

Months

US

D

IEEE Region 8 Committee Meeting: Malta April 2008

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