IES Treasurer Information

The IES Finance Committee shall work with the President and Treasurer to develop the following year's budget by July of the current year. The IES budget must be approved by AdCom prior to implementation. Approval may occur at a normally scheduled AdCom meeting or via email voting.

2. Adcom Travel

All IES travel that is to be reimbursed by the society must be approved in advance by the IES President.

Adcom travel for society officers will, in general, be supported subject to the availability of the funds.

IES does not support an Adcom member's travel for attending Adcom meetings. However, partial or full support may be granted by the President if the member has undertaken tasks of value to IES and that require reports, meetings, or consultations at the AdCom meetings.

Travel for reporting conference/workshop matters at an Adcom meeting should be charged to the relevant conference/workshop, and must be approved by the conference chair.

3. Business Travel for IES

A person who undertakes a travel obligation on behalf of IES must obtain travel reimbursement approval from the IES President in advance of the travel. For example, if the President requested that a member represent IES at an IEEE meeting, then the President would authorize a specific amount of money for travel reimbursement for that task.

4. President's Authority

Payments or reimbursements, which do not appear in the approved IES annual budget, or in an approved conference/workshop budget, must be approved by the President before payment.

In all cases, the President shall have the authority to handle any request for payment or reimbursement as an exceptional matter.

5. Treasurer's Authority

The IES Treasurer is authorized to make payments and reimbursements that are clearly in line with the approved IES annual budget, and also those approved by the President.

In addition, the Treasurer is granted the authority to pay for small items (under $100) based on his own judgment.

The Treasurer and President are encouraged to seek advice from the Finance Committee regarding expenditures that fall outside these guidelines.

6. Desired Society Reserve Level

The desired level of society reserves should be held above the IEEE recommended level.

7. Reserve Investment Considerations

8. Intelligent Use of Excess Reserve for IES Activities

Money in excess of the desired level of society reserves shall be prudently invested in IES activities that serve our members. The details will be studied by the Strategic Initiatives Committee who will make the necessary recommendations.

Approved by Adcom in Dallas, March 14, 1999
Kim Man, IES Finance Committee Chair

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IEEE Industrial Electronics Society

IES Financial Guidelines