Professional Memo - DOC 7 by lXK4rdzv


									                                                                American Institute of
                                                                Chemical Engineers

 To:      Kurt Koelling
 From:    Nihar Patel
 CC:      Samer Cheblak
 Date:    8/9/2012
 Re:      Winter 2002 Expense Report

The attached sheet represents the quarterly expense and income report for Winter 2002. As of
March,13 , 2002 our 5/3 account balance is $474.10. This quarter we experienced a large amount of
account activity. This is partly due to the numerous events held throughout the quarter, science day, and
the publication of the Catalyst.

Taking a closer look at our expenditures for the quarter reveals a large variance in the actual expense
and budgeted expense amount. This can be explained in part by the fact that we greatly underestimated
for science day. We overspent by approximately $470.00. We are dipping into the departmental AIChE
funds to pay for the costs beared by students who purchased materials for science day. We are hoping
that some of the materials spent this year can be reused for next year’s science day.

Analyzing the quarterly income reveals a large portion from membership. We are looking at alternative
sources for funding currently. On a side note, the organization expected to receive some money in
fundraising, but we fell short on getting a credit card company to come to campus. This fundraiser would
have generated close to $500.00.

The remaining balance from the department as of end of Winter Quarter is $642.90.

For Spring Quarter, I hope to establish a permanent fundraiser with the Office of Commencement and
Special Events. The organization would perform graduation clean-up every quarter. This is a good
opportunity because it is on campus, it is continuous revenue, and it does not interfere with anybody’s
academic schedule. Currently, I am in the middle of negotiations for the details. I am also in the process
of coming up with a method for industry relations and donations, more on this later.

I expect spring quarter to be as productive as the last, and I hope we can finally come up with a solution
for our monetary shortcomings. It looks as if we are coming close.

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