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IEEE Student Branch Treasurer
IEEE Southeastern Michigan Student Branch Officer Training
Don C. Bramlett, PE, SMIEEE, FESD, FMSPE
IEEE MGA TreasurerIEEE Region 4 Advisor
IEEE Southeastern Michigan Section AdvisorDTE Energy – Senior Project Engineer
IEEE Student Branch Officer Qualifications
Undergraduate or Graduate Student Member of IEEE
IEEE Student Membership must be current (membership dues must be paid) upon entering office, and must be maintained throughout the term of office
IEEE Student Branch Officers
Chair
Vice Chair
Secretary
Treasurer
Supported by Student Branch Counselor, Mentor and Committees, as applicable
04/21/233
IEEE Student Branch Treasurer Responsibilities
The Treasurer is responsible for maintaining the financial accounts of the Student Branch. Since final approval of a project or activity may depend on the finances available, it is important that financial records be kept current and as accurate as possible.
04/21/234
IEEE Student Branch Treasurer Responsibilities (continued)
The specific duties of the Treasurer include:
Maintain the appropriate Branch bank account(s)
Prepare an annual budget for inclusion with the Annual Plan of Activities report
Prepare the final Financial Statement for inclusion in the Annual Report of Activities
Oversee all fundraising efforts
Arrange for an orderly transfer of all Branch financial records to the incoming Treasurer
04/21/235
Student Branch Reporting Requirements
Each year, you must submit reports to IEEE Student Activities. To encourage you to complete these, the IEEE provides you with funding - an incentive rebate.
Remember, IEEE wants to hear about your activities.
Annual Plan of Activities
Due 1 November each year or two months after academic year begins
Helps you plan your activities and budget for the year
Allotment of either US $50 (49 members or less) or US $100 (50 members or more)
Allotment based on Branch members as of 31 December statistics
04/21/236
Student Branch Reporting Requirements (continued)
Annual Report of Activities
Due 1 May each year or two months after the academic year end
Detailed report of activities for past year, including financial statement
Rebate of US $2 per Branch member
Rebate based on Branch members as of 31 December statistics
One check or payment will be sent to the Student Branch Counselor in December
04/21/237
Student Branch Bank Account
IEEE is an IRS classified 501c3 not-for-profit
An IEEE Concentration Banking (CB) Account is the recommended banking system – there is no cost for this service; open an account via the IEEE website
A checking account with a smaller bank, a credit union or the university is a suggested alternative
The Branch bank account should have the Branch Treasurer, Chair and Counselor as authorized signers
04/21/238
Fundraising
Normally there may be four (4) different kinds of money the Branch may need to raise:
Operating Funds - for continual expenses
Seed Money – an “advance” for an event
Subsidy Money – to reduce the cost for members
Capital Funds – to buy things
04/21/239
Fundraising (continued)
Sources of Funding:
IEEE Allotment and Rebate
IEEE Region, Section, Technical Society, Chapter
University – Department Head, Student Associations
Local Industry
Campus fundraising events or activities
04/21/2310
Fundraising (continued)
Considerations:
Brainstorming is a good way to thinks of ideas
Best Practices from other Student Branches
Be aware of University Fundraising constraints
Need to be careful not to tarnish the image of IEEE, the University and engineering, in general
04/21/2311
Fundraising (continued)
When asking outside sources for money:
Donor must have funds to give (not everyone does!)
Put the request in writing and include a brief budget
Convince them of the merits of your cause and how their involvement with help both you and them
Show them that your proposal is well-thought out and that you are soliciting form others as well
Give them time to make a decision and then follow-up
04/21/2312
Student Branch Sharing
This is an opportunity for Student Branches in the IEEE Southeastern Michigan Section to share their Good Practices and Experiences
04/21/2313
Conclusion
The End
Have Fun