The last IEEE PES Governing Board (GB) meeting was held in Atlanta, GA, USA on August 8th and 9th, 2019 where various operational and strategic issues of IEEE PES were discussed and relevant decisions and actions were taken. During this Governing Board, the IEEE PES Treasurer has presented an overview of the 2019 year-to-date (YTD) finances, the main highlights of IEEE PES 2019 finances, and the 2020 budget for discussion and approval.
The GB has voted the presented 2020 IEEE PES budget where the total budgeted expenses are $18,200,500 and the total budgeted revenues are $20,658,300.
This budget is dedicated to support financially various IEEE PES actions at the service of its members. It includes for example education, conferences and meetings, publications, chapters, technical activities, membership development, new initiatives and outreach, cooperation with other societies, etc.
The operational IEEE PES financial affairs throughout the year are treated at the finance committee (FinCom) that is scheduled regularly on a monthly basis. FinCom is in charge of following up the financial health of IEEE PES, discussing and approving as required conferences and meetings budgets financially sponsored or co-sponsored by IEEE PES as well as targeted budget requests, and issuing financial recommendations to the IEEE PES Governing Board or to the Executive Committee as needed.
IEEE PES is financially healthy thanks to the involvement of its members, the engagement of the volunteers, and the remarkably devoted PES staffs and officials. Thus, IEEE PES prepares the future serenely while detecting and developing new activities with high benefit to the society as a whole allowing not only to ensure the sustainability of the IEEE PES finances but also to continue developing membership, building image, branding the society, and fostering outreach at the best interest of its members.
Treasurer, IEEE Power & Energy Society