The 2007 L50-S annual financial report deadline is 6 March 2008.
To report no financial activity, complete the General Information Certification Schedule Form L50-S, and submit back with full signature.
To report financial activity, complete the entire L50S reportand submit back with full signature.
Please send completed report to Lyn Hunt at l.hunt@ieee.org or Fax: +1-732-562-1571.
Please note the IEEE-SA Standards Board Operations Manual has been approved to reflect the below:policies.
5.1.2 Duties of the Sponsor: j) Without exception, the Sponsor shall ensure the submission of an annual financial report(s) for the operation of the Sponsor and all of its standards development committees (e.g., working groups, task groups). Those groups operating without treasury are required to submit an annual declaration thereof via the report (see 5.3.6).
5.3.6 Annual financial report: All Sponsors are required to submit an annual report (IEEE Form L50S) detailing financial activity for the previous fiscal year. The report will be due within four months of the completion of the previous fiscal year. Failure to submit this report shall result in action from the IEEE-SA Standards Board. Actions shall include, but not be limited to, suspension of all activities until the report is filed and accepted as complete.
5.3.7 Bank accounts:
All IEEE Standards development committees that have or intend to have bank accounts shall use the IEEE Concentration Banking Program as their only bank account. It is the policy of the IEEE that all bank accounts provide for the signatures of at least two volunteers (who shall be IEEE Member grade or higher in good standing).
Financial Reports and IEEE Policy Section 11.2E1c, Financial Manual FOM 2 E2 (d). Working Groups (WGs) that held IEEE bank accounts in the year are required to complete an L50-S for the 31 December year-end report. This form is to be submitted to the IEEE Standards Department in March of the succeeding year. As part of the IEEE and Standards Department financial policy manual, WGs that resulted in total disbursements or receipts in excess of $100k, are required to have an independent audit of the WGs financial activities. For further information, contact Mr. Frank Czapore at f.czapore@ieee.org.
