The mission of the Financial Subcommittee is to develop and maintain operating procedures for local conference committees that insure successful conferences and benefit the membership of the PCIC, while keeping within IEEE guidelines.
Members at Large
PCIC Chair, PCIC Vice Chair and PCIC Facilities SC Chair
All previous Local conference Committee Chairs, willing to serve, are considered members at large.
2013 Sept – Chicago Finance Chair’s Report
2013 Jan – Chicago Finance Chair’s Report
2012 Sept – New Orleans Finance Chair’s Report
2012 Jan – New Orleans Finance Chair’s Report
2011 Sept – Toronto Finance Chair’s Report
2011 Jan – Toronto Finance Chair’s Report
Conference Budgeting & Planning
IEEE Tax and Corporate Information
Click here for information available on the IEEE website.
Please note this IEEE Webpage also includes links to other webpages covering pertinent tax-related items, such as states with tax exemptions, tax forms for U.S. recipients, VAT & GST information for Canadian Conferences, etc.
Closing the Books
Closing of Conference Bank Accounts
The IEEE is required by IRS regulations for all conferences to close their accounts and submit a Final Financial Report to the appropriate IEEE entity within six months from the close of the conference. IRS regulations stipulate that all surplus funds from the conference must first be deposited in the sponsoring entity’s IEEE Headquarters account before they can be withdrawn for use as advance funds for a future conference. If an IEEE Region is acting as a single sponsoring entity, all conference surplus funds must first be deposited in the established Region account before withdrawal for further use, i.e., distribution to Sections. It is the responsibility of the Conference Finance Chair to ensure that this procedure is strictly followed in order to protect IEEE’s not-for-profit tax status. Closing conference finances.
Audit of Financial Records
Due to the nature and size of the PCIC Conferences, all Conferences will require an official audit of the final financial records. It is at the discretion of the Local Conference Chair whether to use the IEEE Audit Services or an independent company.
For general information, click to link to IEEE Website IEEE: Auditing Conferences
- Should IEEE Audit Services be selected to perform the Conference Audit, the Audit Department will provide a Memorandum of Understanding (MOU) and a memorandum audit fee bill to the subject conference, assessing the audit fee.
- Should an independent company be selected to perform the Conference Audit, specific guidelines and audit tests as prescribed by IEEE must be completed. For more information, refer to the pdf document linked from the IEEE webpage on Auditing Conferences above.
Note: In accordance with IEEE requirements, Conference loans are required to be repaid within one (1) month after the Conference. Proper disbursements should be made and bank accounts should be closed as soon as possible. The final report with any residual funds should be submitted to IEEE Conference Services within six (6) months after the conference.