IEEE Region 3 Leadership Development Committee Section Treasurer Training

Principles of IEEE Financial Operation

1. Money held and managed by Sections is the property of the IEEE.
    
2. Sections may use money held for purposes necessary to promote IEEE objectives as long as commitments are within the terms of the approved budget.
    
3. Section funds may be used to supplement the operation of a local Student Branch.
    
4. No Section officer has the authority to contract debts for, pledge the credit of, or in any way bind the IEEE for activities prohibited by the IEEE Bylaws.
    
5. Section funds, wherever held, may not be used for:

Payments for preparation or presentation of papers, except reasonable travel expense reimbursement.
Prizes or awards over $500 for any one individual.
Electioneering of any kind for any IEEE office.
Electioneering of any kind for any local, state, or federal office.
Commercial promotional activities.
Donations including scholarships unless authorized in advance by IEEE Executive Committee
Personal or commercial loans of any kind.
Purchase of real estate without prior authorization from IEEE Executive Comm.
Investment of surplus funds in non-IEEE accounts without IEEE Executive Committee Approval.

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