Budget Committee

Director-Elect
Audit Committee Chair

 

Duties

The Budget Committee, in consultation with the Officers and Committee Chairs of Region 1, shall prepare a budget for the next fiscal year, and shall submit it for approval at the BoG Annual Meeting. Copies of the budget shall be mailed to the BoG at least twenty days prior to the Annual Meeting.

Chair

The most immediate Past Region Director, who is willing and able to serve, shall serve as the Chair of the Budget Committee. If a Past Region Director is unable to serve, for whatever reason, the Region Director shall appoint some other present or past BoG member to serve as Chair.

Committee Members

The Budget Committee shall consist of at least four members, the Chair, the Region Director-Elect, the Regional Treasurer, the Chair of the Audit Committee and others as may be appointed.

Responsibilities

  • Prepare a budget (in consultation with the Officers and Committee Chairs of Region 1 for the next fiscal year, and shall submit it for approval at the Annual Meeting.
  • Forward copies of the budget mailed to the Board of Governors at least twenty days prior to the Annual Meeting.
  • Monitor the budget throughout the year, working with the Region 1 Treasurer.

How appointed and term of office

The Past Director is the Chair of the Budget Committee. The members are appointed by the Region Director, with the concurrence or recommendation of the Committee Chair.

The annual budget is developed in the spring of each year and approved at the Annual Meeting. As soon as possible after its approval, a copy of the budget is forwarded to MGA for their information. The incoming Region 1 BoG reviews the previously approved budget for any required modifications. Such modifications are approved at the BoG winter meeting.

February/March. The Regional Director appoints Committee members. Recommended Committee members could be the Treasurer, the Chair of the Audit Committee, the Director-Elect, and the Region Director as ex-officio.

Mid-March. The Chair of the Budget Committee requests from the Treasurer a spreadsheet listing all of the budget line items and three columns: The first column lists the ACTUALS for the previous year. The second column lists the APPROVED budget for the current year, and the third column lists the SUGGESTED amounts for the next year (the year for the new budget).

Mid-March to Mid-April. The Budget Committee issues a CALL for budget items requests for the following year. The CALL is issued to all Board of Governor members and committee chairs responsible for budget line items. The CALL can be made by email through the Region Secretary. It includes:

  1. The spreadsheet from the treasurer as an attachment
  2. A deadline for submission of budget request, allowing sufficient time for the Committee to prepare a draft budget for review by the ExCom at its spring meeting. It is recommended that the deadline be approximately two weeks prior to the ExCom meeting.

Approximately two weeks prior to ExCom meeting. Deadline for budget submission. Approximately one week to two weeks prior to the ExCom meeting. The Budget Committee meets by telecon or face-to-face to draft the preliminary budget by completing the new budget column from the received inputs. If there is no response is received by time of Budget Committee meeting, the Committee fills the items in question from common sense and historical data.

Spring ExCom meeting. The preliminary budget is submitted to ExCom. The Budget Committee works with ExCom for review and fine-tuning, and request ExCom endorsement of the budget.

At least 20 days before Annual Meeting in August. The Secretary distributes the final budget to the Board of Governors as an action item for vote at the Annual meeting.

August Annual meeting. The Budget Committee Chair submits the budget to the Board for approval (typically a PowerPoint presentation highlighting the budget, followed by a motion for approval. Being a motion by a Committee, it does not need to be seconded).

October1. Submit the approved budget to IEEE Regional Activities Department.

Committee

Duties

The Budget Committee, in consultation with the Officers and Committee Chairs of Region 1, shall prepare a budget for the next fiscal year, and shall submit it for approval at the BoG Annual Meeting. Copies of the budget shall be mailed to the BoG at least twenty days prior to the Annual Meeting.

Chair

The most immediate Past Region Director, who is willing and able to serve, shall serve as the Chair of the Budget Committee. If a Past Region Director is unable to serve, for whatever reason, the Region Director shall appoint some other present or past BoG member to serve as Chair.

Committee Members

The Budget Committee shall consist of at least four members, the Chair, the Region Director-Elect, the Regional Treasurer, the Chair of the Audit Committee and others as may be appointed.

Chair

Responsibilities

  • Prepare a budget (in consultation with the Officers and Committee Chairs of Region 1 for the next fiscal year, and shall submit it for approval at the Annual Meeting.
  • Forward copies of the budget mailed to the Board of Governors at least twenty days prior to the Annual Meeting.
  • Monitor the budget throughout the year, working with the Region 1 Treasurer.

How appointed and term of office

The Past Director is the Chair of the Budget Committee. The members are appointed by the Region Director, with the concurrence or recommendation of the Committee Chair.

Timeline

The annual budget is developed in the spring of each year and approved at the Annual Meeting. As soon as possible after its approval, a copy of the budget is forwarded to MGA for their information. The incoming Region 1 BoG reviews the previously approved budget for any required modifications. Such modifications are approved at the BoG winter meeting.

February/March. The Regional Director appoints Committee members. Recommended Committee members could be the Treasurer, the Chair of the Audit Committee, the Director-Elect, and the Region Director as ex-officio.

Mid-March. The Chair of the Budget Committee requests from the Treasurer a spreadsheet listing all of the budget line items and three columns: The first column lists the ACTUALS for the previous year. The second column lists the APPROVED budget for the current year, and the third column lists the SUGGESTED amounts for the next year (the year for the new budget).

Mid-March to Mid-April. The Budget Committee issues a CALL for budget items requests for the following year. The CALL is issued to all Board of Governor members and committee chairs responsible for budget line items. The CALL can be made by email through the Region Secretary. It includes:

  1. The spreadsheet from the treasurer as an attachment
  2. A deadline for submission of budget request, allowing sufficient time for the Committee to prepare a draft budget for review by the ExCom at its spring meeting. It is recommended that the deadline be approximately two weeks prior to the ExCom meeting.

Approximately two weeks prior to ExCom meeting. Deadline for budget submission. Approximately one week to two weeks prior to the ExCom meeting. The Budget Committee meets by telecon or face-to-face to draft the preliminary budget by completing the new budget column from the received inputs. If there is no response is received by time of Budget Committee meeting, the Committee fills the items in question from common sense and historical data.

Spring ExCom meeting. The preliminary budget is submitted to ExCom. The Budget Committee works with ExCom for review and fine-tuning, and request ExCom endorsement of the budget.

At least 20 days before Annual Meeting in August. The Secretary distributes the final budget to the Board of Governors as an action item for vote at the Annual meeting.

August Annual meeting. The Budget Committee Chair submits the budget to the Board for approval (typically a PowerPoint presentation highlighting the budget, followed by a motion for approval. Being a motion by a Committee, it does not need to be seconded).

October1. Submit the approved budget to IEEE Regional Activities Department.