Transcript Report to TAB Finance Committee November 14, 2003
Report to TAB Finance Committee
May 12, 2005
Christina Schober VP Finances Bob Bannon Treasurer/ Secretary
Outline
Sensors Council History
Sensors Council Activities
Sensors Council Reserves
Sensors Council Net
Plans
Issues
FinCom’s Q & Council’s A
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History
1999: Formed under the leadership of John Vig
Purpose: Foster joint activities among Societies doing sensors
26 Societies participate
2001: Sensors Journal 1 st published
2002: IEEE SENSORS conference initiated
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IEEE Sensors Conference Summary
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Conferences
Sensor Council goal is a Global rotation of locations, with a 3 year cycle
Americas
Europe & Africa
Asia
3 rd Week October is target week
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Conferences
2002 in Orlando, Florida 2003 in Toronto, Canada 2004 in Vienna, Austria
2005 in Irvine, California
2006 Daegu, Korea
2007 Venue Selection in Process
2008 Atlanta, Georgia
2009 Leece, Italy or Athens, Greece
2010 Sydney, Australia or Beijing, China
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Conference Financial budget summaries
2002 Orlando, Florida, USA 2002 Conf loss -$59.9k *audited 2003 Toronto Canada 2003 Conference loss -$43.6k US * audited (2003 Hotel Attrition payoff was –29.1k
US) 2004 Vienna Austria 2004 Conference gain +153.6k US ** in process of closing 2005 Irvine, CA, USA 2005 Conference gain +101k US *** current budget
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Publication income from Conference pubs
2002 Conf Proceedings Income +$69.3k
2003 Conf Proceedings Income +111.5k
2004 Conf Proceedings Income +51k
Budget
New usage model in effect for 2004
2005 Conf Pub Income budget $58k 2006 Conf Pub Income budget $59.7k
2007 Conf Pub Income budget $61.5k
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2002/
2003
/
2004
/2005
Florida/ Toronto/ Vienna/ Irvine
Registration #’s
Attendees 617 357 # of students in total 596 ~63 ~109 162 Tutorials 125 55 64 650 56 120
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Sensors Conf 2004
What went right!
Better Management Committee managed budget & expenses (no management company) Includes returning $15k Seed money to Sensors Council. Two bank accounts set up one US, one Austria. Only US did get seed money (in Oct).
Multiple donations from Vienna University (meeting rooms etc) Food & Beverages provided at lower rate from University services Donation of city of ½ banquet costs
No exposure to hotel attrition, room block or food & beverage minimums
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IEEE Sensors 2005 The 4th IEEE Conference on Sensors Hyatt Regency Irvine Irvine, California Oct. 31 - Nov. 3, 2005 www.ieee.org/sensors2005 Important Dates:
Abstract Submission: April 15, 2005 Author Notification: June 30, 2005 Full Paper Deadline: October 1, 2005
Sensor Conf Bids
must include
Location & Date Proposed General Chair
Experience in Org activities
Experience in IEEE CV Location Description
Advantages/Disadvantages
How easy to reach by air Visa needed?
Local transportation Nearby City Weather Tourist facilities Price Level Other attractive items?
Facilities at Location
Conference Rooms Hotels (availability, affordability) Public Transportation
Cost Plan/budget
Pessimistic, Most Likely, optimistic # of expected participants Profit Conf rooms & facilities Food & Beverages Financial backup (government, societies, industry) Financial risks (guarantee that losses will be covered?) Organizing committee
General Chair Vice chairs are fixed (past & future general chairs) Local Chair Treasurer Exhibition & sponsoring chair Publications chair Turorials chair Publicity chair TPC Chairs (concensus with VP of Conf) Local Organizing Committee Organizing agency?
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IEEE Sensors Journal Summary
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Sensor Journal
2) 1)
as of Oct 28, 2004
Nonmember subscriptions: 37 print, 7 online as of the September month end Member: 1409 print, 406 online, 271 print plus online (combo)
Pricing plan for 2006
Total paper costs are $48.9K. "Incremental" cost as defined in the budget is $23.40 ---
Using new guidelines, the 2006 price is $31 for full members.
e-subscription
There is no estimate for the cost of an e-subscription, as all Xplore costs are allocations of allocations of allocations. This journal’s flat-rate share of the expense is $10.1K. What's ignored is a missing expense for set-up of a subscription, which averages around $5 but is applied to neither the print or online membership subscription variable expenses.
It was noted in budgets during prior year, but I don't see it being done now.
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Sensors Journal Pages Budget vs. Actuals Year Budget Actual 2001 416 400 2002 720 732 2003 928 888 2004 2005 2006 1200 976 1020 (nets $117K) 916 Will meet 2007 1110
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Newsletter starting in 2005
Two issues per year (Jan & July) Contacting each member society for appointing an Associate Editor who can provide short articles on sensor activity of his society.
Use newsletter for timely reports on conferences Report on ten most popular articles published in the IEEE Sensors Journal viewed on line based on PDF views through IEEE Xplore We could also include the most frequently viewed articles from the latest IEEE SENSORS 200X proceedings.
Editor
M. Nurul Abedin, Ph.D.
Passive Sensor Systems Branch NASA Langley Research Center
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Reserves
Initially 26 Societies contributed $2K each = $52k in 1999 TAB loan of $100K in 2000 2002 paid back $100K TAB loan Reserves currently at $284K Projected 2005 yr-end reserves = $430K $500.00
$450.00
$400.00
$350.00
$300.00
$250.00
$200.00
$150.00
$100.00
$50.00
$0.00
$51.77
$222.87
$174.97
$105.67
360 284 430 1999 2001 2003 2005
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Plans
Begin fostering joint activities
Participate in Earth Observation Summit
Develop Web-based tutorials
Initiate joint workshops dealing with interface activities
Inaugurate joint Distinguished Lecturer programs
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Issues
Journal Budget
Increased publishing costs in 2004
Voluntary page charges increased in 2006 budget
Increased infrastructure allocations
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New 2006 Sensors Journal Pricing
Print - $590
Online -- $590
Combo -- $720
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FinCom Questions
In what year is your S/C expecting to achieve breakeven or better, and what specific actions are you taking to do this?
2004 was positive.
Actually 2003 was positive. +136.9k
Hotel attrition for 2003 paid in 2004
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FinCom’s Questions (Reserves)
What actions are you taking to increase the revenue line while decreasing the expense line?
Reserves > 50% of expenses Adjusted Journal costs / pricing
Budgeting conferences for 30% profit to ensure surplus (vs. IEEE recommended 20%) Positive Actions have been put in place; Sensors Council is OK!
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FinCom Questions (Business Plan)
We would also like to hear other elements of your business plan, such as:
Do your dues and member sub prices meet the incremental costs of membership and optional publications? Yes
Are conference fees high enough with respect to your competitors? Yes
Are expenses under control? Yes
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Summary
Actual or budget operating accounts positive to date
Reserves are growing
Corrected Conference and Journal problems
Initiating new, joint activities
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Summary – cont’d.
Sensors Council has a Strategic Plan
Sensors Council has a projected and sustainable growing reserves
Sensors Council has addressed all areas of financial concerns
Sensors Council should be removed from the watch list
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