IEEE Region 3 Leadership Development Committee Section Treasurer Training

Principles of IEEE Financial Operation

1. Capital assets are possessions intended for long-term use, usually having a minimum cost of $1000.
    
2. Notify the IEEE Tax Compliance office of the price and location of all capital assets as acquired to assure proper insurance coverage and identification.
    
3. Notify the IEEE Tax Compliance office of the sale or disposal of all capital assets.
    
4. The IEEE follows an established depreciation policy as follows:

Equipment: 3 – 5 year write-off
Furniture/fixtures 10 year write-off

5. The acquisition, sale and current location associated with capital assets must be included in the Section’s annual financial report.
    
6. Contacts:

IEEE Tax Compliance Office
1 732 562 5351
financial-report@ieee.org

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