--- Begin IEEE S/C Finances Overview Transcript ---
In this module, you will learn:
• Which IEEE business units govern IEEE Society and Council (S/C) Finances and the
roles of these departments
• The structure that determines how S/C finances are managed
• The yearly calendar for S/C financials
• Who is responsible for what activities in managing S/C finances
Please note that this overview only provides some financial management highlights.
Additional information is available in the TAB Operations Manual
(http://www.ieee.org/portal/pages/tab/tabopman/index.html). S/C officers are
encouraged to contact any member of the TAD Finance Staff
(http://www.ieee.org/web/volunteers/tab/tad_contact.html#fin) as the first point of
contact for any financial questions.
What are TA, TAB, TAB FinCom, and TAD?
Four parts of IEEE figure prominently in the Society/Council (S/C) financial
management process: TA, TAB, TAB FinCom, and TAD. All of these acronyms are
related but have different roles.
Technical Activities is an operating unit of IEEE that is committed to being:
• the first place people go for the highest quality technical information in the areas
of interest of IEEE
• acceleration and nurturing of innovation, and
• the technical professional's lifelong network of choice
The Technical Activities Board, or TAB, oversees the work of IEEE Technical Activities.
TAB fosters technological innovation and progress by advancing the technical activities
of the IEEE for the benefit of the profession and humanity worldwide, and represents the
interests of Societies and Technical Councils within the IEEE. TAB has three business
• Publications (business rules, threats, opportunities)
• Conferences (Conference community)
• Membership (adding member value)
TAB also participates in fostering new initiatives and new technology development.
To do business in each of these areas, TAB provides
• Aggregate S/C Management and Oversight
• Cross Society/Council Activities
• Packaged Products
• Tool Development
• Issue Resolution
• Recommends Policy and Process changes
TAB Membership is composed of:
• TAB Chair (VP - Technical Activities)
• TAB Vice Chair (VP-elect Technical Activities)
• Past Chair (Past VP Technical Activities)
• Secretary (non-voting)
• 10 Division Directors
• 44 Society & Technical-Council Presidents (3 provisional non-voting)
• TAB Periodicals Committee Chair
• TAB/PSPB Products & Services Committee Chair
• IEEE Conferences Committee Chair
• Liaison Reps (non-voting)
TAB FinCom is a committee of TAB that oversees the budgeting and financial operations
of IEEE Societies and Councils. TAB FinCom
• Develops Financial goals, procedures, and forecasts for TAB and S/C
• Implements the TAB budget
• Advises and informs TAB Management Committee on all financial matters
• Reviews and monitors
• Financial performance of all TAB
• Financial audits of TAB operations
• Institute-wide financial actions that impact TAB and S/Cs
• Reviews & endorses at (S/C & pub level):
• Internal vs external publication alternatives
• Subscription rates for packaged products
• Financial aspects of new periodical proposals
• S/C Fees, member and non-member periodical prices
• S/C Budgets (+ recommends actions)
• Maintains the TAB Finance Manual
• Reports financial status at each TAB meeting
• Maintains the TAB Finance Manual
• Reports financial status at each TAB meeting
TAD refers to the Technical Activities staff members who assist volunteers in carrying
out the activities of Societies and Councils, including conference management, budgeting
and financial management, information processing, communications, and travel. The
TAD Finance Staff provides financial support for TAB, Societies, TAD, and Executive
• Budgets & forecasts
• Monthly research of actuals
• Reimbursements / expense reports
• Independent contractors agreements / temporary employee agreements
• Purchase Orders
• Special analysis
TAD Finance Staff also support the TAB Finance Committee. TAD Finance Staff and the
TAB Finance Committee will assist TAB and the S/Cs on any/all financial issues. For
ALL questions on Budgets, Forecasts, Financial Statements please contact your
designated analyst. Please visit the TAB Web Site for a list of which analysts are
assigned to which S/Cs (http://www.ieee.org/web/volunteers/tab/tad_contact.html#fin).
For all inquiries regarding PO's Independent Contractor Agreements, Reimbursements,
Invoices, Expense Reports, etc. (Except for S/Cs with Executive Offices), contact TAD
Finance Staff (http://www.ieee.org/web/volunteers/tab/tad-contact.html#fin).
How Do We Manage S/C Finances?
A variety of information is available throughout the year to help develop, understand, and
manage the S/C financials, including:
• Reports (monthly, Final Operating, adhoc)
• Periodic updates
In April of the year prior to the budget year, Societies and Councils will receive their
budget in Excel format for review and refinement. Budgets are the S/Cs opportunity to
refine parameters and add new initiatives to arrive at the final budget for TAB and IEEE
Actual versus budget financial reports are issued monthly and enable S/Cs to see where
the money is coming from and being spent, thereby allowing for financial management.
Three times a year, summary Final Operating reports are provided. Once per year in
November or December, each S/C receives a reserve projection.
Forecasts are done three times per year by TAD Staff and provide the opportunity for
S/Cs and staff to identify any potential issues and resolve them before they become a
Questions on S/C Finances may be answered by the TAB Financial Operations Manual,
which includes some S/C metrics, overviews of the major lines of business, and links to a
number of documents. This manual is online at:
A valid IEEE Web Account is required for access.
Later in this module, we will take an in-depth look at each component of managing S/C
The S/C Budgeting Cycle
Society and Council budgets are created and approved in a regular cycle, beginning the
year before the January where the budget goes into effect. Here is the calendar for the
In Early April, S/C Officers receive the April Budget Memo and the First Pass Budget for
the coming year. S/C Officers then review the budget, refine inputs and add new items.
Major budget parameters that are typically adjusted include:
• Member & Non-Member Subscription prices
• Member Fee (Dues Rate)
• Publications Page Counts and/or Number of Issues
• Conference Budgets
Other revenue and expense lines are also adjusted.
In addition, S/C Officers identify any items to be added to the budget, including:
• Potential new publications
• Projects and new S/C Initiatives
The goal is the have a good idea of where the S/C stands financially by June. Changes
made after June should be net neutral, if possible.
In May, the S/Cs return the First Pass Budget with their refinements and additions. TAB
FinCom then reviews and endorses S/C parameter submissions.
In June, TAB approves S/C budget parameters. TAB also votes on Member & Non-
Member Subscription Prices and Member Fees. These parameters cannot be changed
after the June TAB meeting.
In July, the updated budgets are returned to the S/Cs for final changes.
In early August, S/Cs return Final Budgets to staff. After 1 September, any requested
changes reducing the S/C net will need to go through a TAB re-approval process.
In September and October, TAB FinCom reviews all the S/C budgets and prepares the
final Technical Activities budget, which includes the S/C budgets, for submission to TAB
and the IEEE Board of Directors.
During November, TAB and the IEEE Board of Directors meet separately and approve
the TAB and S/C budgets. S/C Presidents are required to present their S/C budget to TAB
In January, the approved S/C budgets take effect.
Roles and Responsibilities in the S/C Budgeting Process
Numerous entities interact during the S/C budgeting process. Clear roles and
responsibilities ensure that the process goes smoothly.
TAD finance staff:
• Provides complete “first pass” base budgets.
• Reviews and consolidates all S/C budget input.
• Provides ongoing communication.
• Conducts problem solving/sanity checks with S/C officers.
• Revise the first pass budgets: parameters, new publications, initiatives,
• Review budgets with S/C Advisory Committee or Executive Committee.
• Submit the budget to TAD Finance by the due date.
S/C Presidents should be in the loop. The mechansims for their involvement varies by
Once the budget is ready, it begins the approval process.
• The TAB Finance Committee Reviews/endorses S/C & TAB budgets.
• TAB endorses TAB and S/C budgets.
• The IEEE Finance Committee integrates TAB and S/C budgets into the overall
• The IEEE Executive Committee endorses the overall budget for approval by the
IEEE Board of Directors.
• The IEEE Board of Directors gives final approval to the budget.
For More Information
For more information, please utilize one of the following resources:
• TAB Operations Manual (http://www.ieee.org/portal/pages/tab/tabopman/index.html)
• TAB Finance Manual
• TAD Finance Staff (http://www.ieee.org/web/volunteers/tab/tad_contact.html#fin)
• Technical Activities (TA) Home Page
• Glossary of S/C Finances Terms (online in module)
--- End IEEE S/C Finances Overview Module Transcript ---