Financial Activities Report

1
Financial Activities Report

• New Orleans, May 1, 2004Xiaoping Yun
• Treasurer
• Tony Maciejewski
• VP for Finance

2
Outline

• Office Transition
• Final Financial Results of 2003
• Net income for each publication and major
  conferences
• IEEE Administration and AdCom expenses
• Investment return and net asset
• 2004 Financial Status
• 2005 Budget

3
Transition

• Dave Orin hosted a one-day meeting with Tony
  Maciejewski and Xiaoping Yun at OSU in January.
• Attended IEEE Financial Workshop at IEEE HQ in
  March.
• Ongoing consultation with Dave Orin.

4
Custom Service

• Tony Maciejewski --- VP Finance
• Budget
• Initiatives/activities that have financial impact
• Xiaoping Yun --- Treasurer
• Expense reports
• Purchase orders
• Invoices
• Advance loans

5
lt- Member Fees 110.8K
lt- T-RO 501.6K
lt- Magazine 157.1K
lt- BBP 340.2K
6
T-RA Expenses 234.1K, Net 267.5K --gt
Mag Expenses 189.8K, Net (32.7)K --gt
ICRA2003 461.4K, Net 80.7K --gt
IEEE Admin 301.6K --gt
AdCom 60.1K --gt
2003 Operating Surplus 440.7K --gt
7
lt- Op 440.7K
lt- Inv 396.2K
lt- ? 836.9K
lt- IEEE 986.2K
lt- Worth 2.267M
8
2004 Financial Status

• IEEE conducts forecast three times a year.
• Stay within budget based on 1Q results.
• Out of budget item magazine page count increase.

9
2003 IEEE Finances - Impact on 2005 Budget

• IEEE
• 2003 net surplus 28.6M (reserves at 105.8M)
• 11M operations (10M above budget)
• 17.6 market fluctuation
• Society/Council, TAB net surplus 26.4M (reserves
  at 90.7M)
• 2005 Society/Council, TAB budget must be
  breakeven
• excludes market fluctuation
• excludes IEEE approved initiatives

10
2005 Publication Rate Principles

• Member rates - recover incremental costs
• Student rates - 1/2 of regular member rates
• Non-member rates - 2/3 of market value
• Page counts based on quality/service

11
2005 Magazine Rates

• Keep membership rates same as 2004
• Regular - 21
• Student - 11
• Non-member rates at IEEE suggested rates
• 285 (up from 270 in 2004)
• Increase page count to 320 from 304
• Request to publish 100 extra pages in 2004
• timely publication of paper backlog

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Effect of Extra Pages in 2004 for Magazine

• Loss of some ASPP income
• Publications within 5 of budget share in
  distribution of money taken from publications
  that are under page budget
• Pool being distributed is decreasing
• 800K (2001), 500K (2002), 273K (2003)
• Magazine portion was 0.56 in 2003, i.e., 1.53K
• Move forward cost of publication - 23K
• Magazine cost per page - 150 composition, 80
  print

13
2005 Trans. Robotics Rates

• Keep membership rates same as 2004
• Print - 19 (10) incremental cost 17.8 in
  2003
• Electronic - 15 (8)
• Combo - 21 (11)
• Non-member rates at IEEE suggested rates
• 590 (up from 545 in 2004)
• Increase page count 5 to 1076 from 1024
• already a 5 backlog for 2004

14
2005 Trans. Automation Science Engineering Rates

• Increase membership rates in line with increase
  in content
• Print - 15 (8)
• Electronic - 10 (5)
• Combo - 17 (9)
• TASE with TRO 25 discount on combination
• Print - 25 (13)
• Electronic - 18 (9)
• Combo - 29 (15)
• Non-member rates at IEEE suggested rates
• 370 (up from 175 in 2004)
• Increase page count to 424 from 180
• Increase number of issues to 4 from 2

15
Motions on 2005 Budget

• Approval of extra pages for Magazine in 2004
• Approval of 2005 rates for all publications
• Approval of 20K in start-up costs associated
  with Manuscript Central for TRO in 2005

16
Proposal from Long Range Planning Committee and
Technical Activities Board

• Young Professional's Lunch at ICRA 2005
  5,000
• Presentation of services and opportunities
  offered by RAS
• (TCs, awards, committees, conferences,
  education, )
• Platform for discussion and brainstorming on
• what can the society do for you
• Expected benefit to Society
• Establish a strong contact with our young
  members, recruit new members
• Expand and strengthen the involvement of our
  young colleagues in RAS
• Get a clear idea of the needs and wishes of our
  young colleagues

17
Proposal from Conference Activities Board

• Motion Move that the Robotics and Automation
  Society adopt the following procedure
  concerning reduction of ICRA registration fees
• ICRA surplus funds over 15 of gross income will
  be used to reduce the following years member
  registration fee up to a 100 reduction below the
  budgeted level
• Fee Reduction (surplus 15 of gross income)
  / 1000
• A mechanism will be developed, which is
  compatible with IEEE policies on conference
  closings, to pay for the next years registration
  fee reduction out of the current years surplus
  funds.

18
Proposal from Conference Activities Board

• Background
• Organization and budgeting of future ICRA
  conferences can move forward in the same manner
  as is currently in practice.
• Relief on ICRA conference registration fees is
  directly related to the financial success of the
  conference.
• A base level of surplus funds will still support
  the current activities of the Society
  (Distinguished Lecturer Program, awards, etc.).
• This provides a direct mechanism to reduce
  conference fees, which is an expressed desire of
  members surveyed.

19
Business Plan