Finance

John Stone

Overall Status• CB account closed

– All transactions cleared• Loan repaid to IEEE - $ 45,000• Income sent to NPSS - $ 121,387

– Adjusted return: $ 94,869– Adjusted percentage (excluding loan): 20.2%

• Final report submitted• Audit report received

– No remaining issues2011 NSREC Conference Status

Conference Income

2011 NSREC Conference Status

Conference Expenses

2011 NSREC Conference Status

Conference Bottom Line

2011 NSREC Conference Status

TNS mailing and audit expenses will be paid by IEEE journal transfer

Final Report Content• Final IEEE reporting spreadsheet• Supporting documentation including:

– Cash flow by tag (category) reporting– Transaction Report by month split by tag– Income report from ETC

• Expense Receipts for– Checks– Bank card – EFT items

• Tax forms (1099/1042)

2011 NSREC Conference Status

IEEE Procedures Audit• Additional Submittals

– Income summaries from ETC (thanks Anne!)• Monthly, weekly, bi-weekly as available• Broken down by check, card, cash

– Scanned copies of registration forms

• Report Summary (we passed)– Financial Statements were supported by appropriate

documentation– NSREC ‘11 conference financial transactions were,

generally, in compliance with applicable IEEE Policy– The major categories of receipts and disbursements

were properly recorded in the financial reports.2011 NSREC Conference Status

Suggestions for 2012 (from Audit)

• Maintain soft copies of periodic income reports from ETC (e-mail or scan)

• Scan 10 % of registration forms into computer up-front– Exhibit– Attendee (mixed check and credit card)

• Provide corporate supporters with IRS donor letter (can provide sample)

2011 NSREC Conference Status

Summary

• We made our return (and then some)• We paid all our bills• We passed our Audit• We’re done!

• Thanks:– Anne, Cindy, Carl at ETC– Kay, Dale, Robert, Mike, and the rest of the gang

• Didn’t we have fun!