--------------------------------
Financial Management & Reporting
--------------------------------

Please visit IEEE Conferences Organization Manual - Section 9 for a more detailed explanation of all the below bullets. 

== Bank Accounts ==
Establish a Conference Bank Account for receipt and disbursement of conference funds (IEEE Concentration Banking program is strongly recommended)

<Account Identification>
IRS regulations require that all conference bank accounts in Regions 1-6 be opened as "The Institute of Electrical & Electronics Engineers, Inc., d/b/a Year IEEE Conference Title."

Accounts must never be in an individual's name 

<IRS Tax Identification Number>
IEEE conferences sponsored by entities, other than Sections or Regions, holding funds outside the IEEE treasury is 13-1656633

Section or Region-sponsored conferences have been assigned a uniform identification number of 13-6117748 

<Signatory Powers for Bank Accounts>
Require that all conference bank accounts have alternate signature designated. The minimum signatures for an account are:
   - One volunteer from the Conference Committee, usually the Finance Chair (or Treasurer).
   - One volunteer alternate from the Conference Committee, usually the Conference Chair. 

The IEEE Staff Director Financial Services or designee. Alternate signatory arrangements may be necessary for non-U.S. conferences.

IEEE Requirements - It is the responsibility of the Conference Treasurer to report to IEEE at the end of each calendar year, indicating: 

   - Principal Amount 
   - Annual Accrued Interest 
   - Account Number, Name and Address of any financial institution at which any open conference account exists.

The Institute requires this information for its IRS Information Return. 

<Closing of Bank Accounts>
IRS regulations require that all IEEE conferences close their accounts and submit a Final Financial Report to the appropriate IEEE Organizational Unit(s) within six months from the close of the conference. IRS regulations stipulate that all surplus funds from the conference first be deposited in the sponsoring entity's IEEE Headquarters account before they can be withdrawn for use as advance funds for a future conference.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. 

<Conference Loan Request>
Conference loans may be requested from the sponsoring IEEE OU anytime during the planning cycle.  The sponsoring IEEE OU will approve the loan and contact IEEE Conference Services to process the request. 

Conference loans are required to be repaid within one (1) month after the conference.