Financial Planning
2016
CTS Fall Planning Meeting
San Marcos
29 August 2016
Don Drumtra
drumtra@ieee.org
512-291-0315
IEEE Central Texas Section
Topics
• Process overview
• Form completion
IEEE Central Texas Section
Financial Planning Process
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The CTS financial process provides:
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Financial estimates and an approved budget
for the section, chapters, and affinity groups
based on their input
Three tools to gather inputs and document
ExCom decisions.
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Chapter/AG Financial Plan form.
A guide on how to complete the form
Sample completed form
A time table on process events
IEEE Central Texas Section
Time Table
Chapter Affinity Groups
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Form completion: 1-30 November 2015
Submission to CTS Chair and Treasurer:
30 November 2015
IEEE Central Texas Section
Financial Plan Form
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Heading and general Chapter/AG info
2016 Beginning balance
2016 Revenue estimates
2016 Expense estimates
2016 Ending surplus/loss estimates
2016 Chapter/AG budget
Requested additional 2016 CTS funding
IEEE Central Texas Section
Heading
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Current officers complete ID data
Work with new officers
Include email addresses, phone
numbers, preparation date, approval
date, and submission date
Please do not modify form or enter data
in shaded cells.
IEEE Central Texas Section
Line 1
2016 beginning balance
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Enter 2015 chapter surplus
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(revenue minus expenses).
IEEE active chapter rebate - $200
IEEE chapter activity bonus - $75
Added funding from CTS – entered later
and auto copied here
Beginning balance for 2016 auto added
All from CTS reserves available 1 Jan
IEEE Central Texas Section
Line 1
2016 beginning balance
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Notes
2015 surplus is 2015 revenue minus
expenses—best guess. The Treasurer
will update the amount in January as
final inputs are receives
2015 Surplus amounts are from CTS
reserves, 2016 rebates are from
Member Dues
IEEE Central Texas Section
Line 2 Revenue
2a Monthly Admin meetings
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Enter estimate of collections from regular
admin meetings (events times average)
Includes regular ChapComm, planning,
and similar meetings
Two or more L-31 reported attendees
Some chapters meet less often
Normally 0
IEEE Central Texas Section
Line 2 Revenue
2b Monthly technical meetings
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Enter estimate of collections from regular
tech meetings (events times average)
Includes lectures, presentations, panels,
tours, and similar regular meetings
Few or more L-31 reported attendees
Some chapters meet less often
IEEE Central Texas Section
Line 2 Revenue
2c Non-tech/social meetings
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Enter estimate of collections from nontech social meetings
Includes award and appreciation dinners,
presentations, member development,
outreach, STEM, and similar meetings
Many L-31 reported attendees
IEEE Central Texas Section
Line 2 Revenue
2d Revenue sharing from workshops
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For future use
Requires revision to workshop policy and
procedures
IEEE Central Texas Section
Line 2 Revenue
2e Society support
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Enter the amount of support expected
from the Chapter’s society
Joint chapters enter revenue from the
most generous society
You have to ask usually more than once
IEEE Central Texas Section
Line 2 Revenue
2f Other society support
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Joint chapters enter expected revenue
from the other societies
You usually have to ask more than once
Late requests not a problem
IEEE Central Texas Section
Line 2 Revenue
2g Corporate support
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Enter expected corporation support
Many corporations have programs to
support professional societies.
Best programs support employees dues
Second is chapter and section support
Employees are the best marketers
IEEE Central Texas Section
Line 2 Revenue
2h Other revenue
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Enter any other expected revenue
IEEE Central Texas Section
Line 3 Revenue
Total estimated revenue for 2016
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Automatically calculated from the
revenue lines above
IEEE Central Texas Section
Line 4 Expenses
4a Monthly Admin meetings
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Enter estimate of expenses from regular
admin meetings (events times average)
Includes regular ChapComm, planning,
and similar meetings
Two or more L-31 reported attendees
Some chapters meet less often
Most chapters have 0 for this
IEEE Central Texas Section
Line 4 Expenses
4b Monthly technical meetings
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Enter estimate of expenses from regular
tech meetings (events times average)
Includes lectures, presentations, panels,
tours, and similar regular meetings
Some chapters meet less often
Must file L-31 reports
IEEE Central Texas Section
Line 4 Expenses
4c Non-tech/social meetings
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Enter estimate of expenses from nontech social meetings
Includes award and appreciation dinners,
presentations, member development,
outreach, STEM, and similar meetings
Must file L-31 reports
IEEE Central Texas Section
Line 4 Expenses
4d General supplies
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Enter the expected cost of supplies not
included in 4a, 4b, and 4c.
Describe the supplies in the space
provided
IEEE Central Texas Section
Line 4 Expenses
4e, 4f, 4g Other needs
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Enter the expected cost of other needs
not included in 4a, 4b, 4c, and 4d.
Describe the needs in the space
provided
IEEE Central Texas Section
Line 5 Expenses
Total estimated expenses for 2015
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Automatically calculated from the expense
lines above
IEEE Central Texas Section
Line 6 Total estimated
surplus or loss for 2015
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Calculated
Equal to revenue less expenses
When approved this is the chapter budget
More revenue allows more expenses
Losses are covered by CTS
Surpluses are carried over to 2016
IEEE Central Texas Section
Line 7
Expected ending balance for 2015
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Calculated (line 1 minus line 6)
Equal to beginning balance less budget
Financial plan approval requires ending
balance be $0 or more.
Negative ending balance requires greater
revenue, fewer expenses, and/or CTS
funding support to correct to $0.
IEEE Central Texas Section
Line 8
Request for CTS funding
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Make a good faith effort to keep ending
balance above $0 by adjusting revenue
and expense. If you cannot then-Enter requested CTS support funding on
line 8 (an amount equal to the loss on line
7 will result in $0 loss)
The ExComm must approve
IEEE Central Texas Section
Due Dates
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1 September—draft call/instruction with
schedule and forms to ExCom
15 September—comments to Section
Chair and Treasurer
30 October—Formal call to ExCom
30 November—Chapter Fin Plans to
Section Chair and Treasurer
IEEE Central Texas Section
QUESTIONS?
IEEE Central Texas Section