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IEEE Region 3
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The Executive Summary worksheet has three main purposes. First it will be an aid in helping your Section develop a BUDGET by showing a comprehensive outline of the accounts used by IEEE. Second, the worksheet shows the account numbers that correspond to the IEEE L50 Annual Report and the accounts are grouped in the same order as in the L50. The Executive Summary can serve the purpose of a Chart of Accounts. A printout of this worksheet will be a handy and succinct reference for the Treasurer in finding the correct account number for transactions that are entered in the later worksheets. Third, and perhaps most useful, it will be a readily available report for the Treasurer to give to the Section Chair or the Executive Committee at any time during the year. It will automatically be up-to-date with the latest transactions entered in the Section’s accounts.
There are some sub-accounts that are shown indented that your Section can use to get more detail for a particular main account. For example, on the first page of the Executive Summary, account A-2.50 is a main account that has been expanded into two sub-accounts, A-2.51 and A-2.52 in order to account for two different conferences during the year. These sub-accounts are totaled into the "Total 2.50 – Conference Revenue" line and this is the data that is carried forward into the Form L50. If you have only one conference, leave the other data area blank. If you have no conference, leave both the data areas blank. If you have more than two conferences, insert additional sub-accounts. Be sure the Subtotal formula for the A2.50 line includes the range of the added sub-accounts. Any new sub-accounts added here must also be added to the Inc_Acct worksheet with appropriate links back to the Exec_Sum worksheet. Use the included sub accounts as a guide on how to do this.
The BUDGET data on the Executive Summary must be entered manually. The Treasurer can propose a budget on this form for approval by the Section Executive Committee. Enter your desired data in the BUDGET column leaving a budget of zero or a blank in any account line you do not want to use. Do not alter the formulas in the YTD ACTUAL column because all this data is filled in automatically during the year as your income and expense account data are entered later. Also, do not alter the sub-totals for the several groups of accounts because these cells contain formulas to generate the correct totals.
This worksheet can be printed out at any time during the year for an up-to-date report to your Section Chair or the Executive Committee of financial operation on a YTD basis. The report date at the top of page one is taken from your computer date/time information. Be sure your computer date and time are set correctly. This will automatically be copied to the other pages of the report.
The last page of the Executive Summary shows the balances in all the Section’s cash accounts and the investment account on the date of the report. These data are all brought to this report automatically from the referenced accounts.