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Commissions
and Reports
Finance commission (FC) report to the Ex Com March 21, 2004-03-04
This report deals
with the following issues
1. Status for 2003
a. Balance sheet
as of December 31, 2003 (attached)
b. Profit and loss January through December 2003 (attached)
c. Transaction details (ledger) for 2003 (attached)
d. Dues (attached)
2. Outcome for
2001-2003 (2001-2004)
a. Balance
b. Profit and loss
3. Fundraising
a. Sponsor letter
(attached)
b. Activities of JMG
c. Activities of GS
d. For 5CTDC
e. ICT X fellowships
4. 5CTDC in Guilin
a. Finance report
(attached)
5. Comments to
the original FC plan for 2001-2004
6. Remaining tasks
a. Recruitment
of IUTOX sponsors
b. Establish guidelines for the treasurer
c. Reporting to the General assembly at ICT X
d. Legacy
1.Status for 2003
a. Balance sheet
as of December 31, 2003 (attached)
Comments
The total assets has decreased with about 10% which is partly due
to a slight negative income and lower sponsoring that previous
year.
b. Profit and loss January through December 2003 (attached)
Comments
The negative income is much less than was budgeted. That was due
mainly to lower expenses than expected, particularly for the
5CTDC and educational
activities. On the other hand the administrative costs were lower
than expected.
c. Transaction details (ledger) for 2003 (attached)
Comments
Gives all details, which I suppose we do not have to check or
discuss in detail
d. Dues (attached)
A separate list of the members, which have paid or not paid,
is attached.
2. Outcome for 2001-2003 (2001-2004)
a. Balance (included
in the 2003 sheet)
Comments
b. Profit and loss
Comments
3. Fundraising
a. Sponsor letter
(attached)
Comments
A previous version has been modified in order to make it up to
date, shorter and more simple.
b. Activities of JMG. During the past
year funding was solicited from sponsors
for 5CTDC
fellowships.
A funding request to NIEHS
was also successful
and resulted in an 8,000 USD donation.
A presentation was made to SOT council
covering all Educational
programs including RASS.
SOT will continue
to fund our programs. Funding from SOT
was increased to 10,000 USD this year,
5,000 USD
for fellowship
and 5,000 USD for other
educational programs.
In addition, a 3,000 USD contribution
to educational programs was made by ChevronTexeco
(JMG)
c.
Activities of GS
(Glenn, Please add)
d. For 5CTDC
Comments
Despite a lot of work the outcome
was not sufficient support a fellowship
programme
ICT X fellowships
Comments
Announcement has been placed on the
website and our members have been
informed. Soliciting
letters
have been sent to organisations
and companies
but not to the member societies,
which, however, have been encouraged
to support
their own members
to go to ICT X in Finland.
4. 5CTDC in Guilin
Finance report (attached)
Comments
The final report has been received and there
is a positive income which will give IUTOX
around
10,000USD
5. Comments to the original FC plan
General objectives
Sound finances of IUTOX, including accurate
accounting
This point has been strongly enhanced
by handing over the economic administration
to AIM. The
collaboration with AIM has been excellent
and the agreement
has been prolonged.
Specific objectives
for 2001-2004
Double the annual income
This goal have to been reached
due to the changed global economic
situation.
General
tasks
Overlook the finances of IUTOX
In order to simplify and improve
the overview of the financial
transactions, the accounts
at UBS
in Switzerland have been closed
and the assets transferred
to the First Union bank in Washington
DC,US.
Prepare budgets
Based at activities to be decided
at the Ex Com meetings budgets
have been
constructed
Specific tasks
Establish guidelines for the
treasurer (2004)
Propose a detailed plan for fundraising
(2001)
Review of the tax procedure (2002)
The guidelines for the administrative
tasks have been put on hold but
will now be taken
care of
in collaboration with AIM.
A proposed letter for recruitment
of IUTOX sponsors is being prepared
Activities
Working through electronic communication
complemented with meetings when
feasible
Visiting potential financial
supporters
Timeline
In relation to dates for EC meetings
and other deadlines plus dates
given for each specific
task
The reporting of the finances
is proposed to be changed
from ICT
to ICT to calendar
year.
Budget
No costs expected. Expenses for
soliciting money in relation
to the amount expected
Assets
overview
As can be seen the
assets increased slightly
last
year (7%), mainly
because cheaper
USD. It is doubtful
if we will be able
to retrieve
outstanding
dues but we will work
on that even if the
amount is limited...
Profit and Loss
Thanks to a positive
balance of the finances
of the continuing
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