IEEE%20Student%20Branch%20Treasurer

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IEEE Student Branch Treasurer

• IEEE Southeastern Michigan Student Branch
  Officer Training

• Don C. Bramlett, PE, SMIEEE, FESD, FMSPE
• IEEE MGA Treasurer
• IEEE Region 4 Advisor
• IEEE Southeastern Michigan Section Advisor
• DTE Energy Senior Project Engineer

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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

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IEEE Student Branch Officers

• Chair
• Vice Chair
• Secretary
• Treasurer
• Supported by Student Branch Counselor, Mentor and
  Committees, as applicable

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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.

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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

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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

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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

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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

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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

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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

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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

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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

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Student Branch Sharing

• This is an opportunity for Student Branches in
  the IEEE Southeastern Michigan Section to share
  their Good Practices and Experiences

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Conclusion

• The End
• Have Fun