Treasurer and Post-Treasurer

From IVSA Wiki
Jump to: navigation, search

Treasurer

Ideally before being nominated for an ExCo position, and certainly after being elected to such a position, the Officer should familiarise themselves with the Constitution and Bylaws of IVSA, and with the relevant Manual(s) to their position.

In order to be considered suitable for nomination for a position on the ExCo or Secretariat, the member should have sufficient English language skills to communicate effectively with the other members of the IVSA governing entities. This is because English is the official language of IVSA and it is the language in which all official ExCo and Secretariat communication is in. English language skills should therefore be considered necessary for all nominees. Other language skills, while they may be useful, are optional.

All ExCo members should seek advice on problems they encounter from the Trust, as the Trust is an advisory body which has experience to support the ExCo. Personal contact with the Trust is encouraged in the case of difficulties.

Constitution and Bylaws

Become familiar with the new C&B.

Some important parts (BUT NOT ALL):

Constitution

Finances

The income of IVSA is generated from membership fees, subsidies, donations, legacies and other contributions. IVSA may establish funds for special purposes.

A) The membership fees shall be fixed annually at Congress by the General Assembly.

B) The financial year of IVSA runs from September 1st to August 31st of the following year.

C) The Executive Committee is, during its administration, liable for all financial actions of IVSA.

D) The Financial Report shall be composed in accordance with generally recognized accounting principles.

E) The Financial Report shall be audited by two (2) Auditors appointed by the General Assembly.

F) The Executive Committee shall report to the General Assembly about the developments and the pursued financial policy of IVSA.

G) The Executive Committee shall submit the accounts and the statements of assets and liabilities for approval to the General Assembly at the Symposium following the end of the financial year.

H) Approval by the General Assembly of the documents as referred to in this paragraph, discharges the Executive Committee for its management, unless the General Assembly makes a reservation.


Bylaws

ExCo

Responsibilities

Treasurer

The responsibilities of the Treasurer include but are not limited to:

handling all financial transactions of IVSA according to the decisions of the ExCo,

calculating and collecting the membership fees of all members of IVSA in a way that causes no unnecessary bank charges,

maintaining a list of active Member Organizations and their votes to be handed to the Secretary General before the start of a Congress or Symposium,

maintaining legally appropriate bookkeeping,

presenting a preliminary Financial Statement to the ExCo during Symposium,

preparing the annual budget of IVSA for the next ExCo in cooperation with the President-Elect.

In addition to these responsibilities the Treasurer will hold signatory power to the bank accounts of IVSA.


Post-Treasurer

The responsibilities of the Post-Treasurer are limited to:

preparing and presenting the Financial Report of IVSA to the General Assembly at Symposium following the end of the term of the ExCo in which the current Post-Treasurer held the position of Treasurer.


Expenses

The positions of the ExCo shall be honorary and members of the ExCo shall be entitled to expenses necessarily incurred in the course of work for IVSA.

ExCo members shall be reimbursed for their travel expenses at a minimum cost rate from the IVSA central fund for attending the Symposium and Congress during which all mandatory meetings are held.

The President-Elect shall be reimbursed for their travel expenses at a minimum cost rate from the IVSA central fund for attending the Congress of IVSA.

The Post-Treasurer shall be reimbursed for their travel expenses at a minimum cost rate from the IVSA central fund for attending the Symposium of IVSA following their term as Treasurer.

Half of the registration fee of the members of the current ExCo for the Symposium and Congress of IVSA, not including the surcharge for the IVSA Central Fund, shall be covered by the Organizing Committee of the Congress or Symposium in question.

Half of the registration fee of the President-Elect for the Congress of IVSA, not including the surcharge for the IVSA Central Fund, shall be covered from the IVSA Central Fund.

Half of the registration fee of the Post-Treasurer for the Symposium of IVSA following their term as Treasurer, not including the surcharge for the IVSA Central Fund, shall be covered from the IVSA Central Fund.

No expenses shall be reimbursed before valid receipts documenting the expenses are handed to the Treasurer and the ExCo has agreed in an ExCo meeting to grant these specific expenses to the recipient.


Secretariat

Expenses

The positions of the Secretariat shall be honorary and Secretaries shall be entitled to some of the expenses necessarily incurred in the course of their work for IVSA.

Secretaries shall be reimbursed for their travel expenses at a minimum cost rate from the IVSA central fund for attending the Congress at the end of their term.

Half of the registration fee of the members of the current Secretariat for the Congress of IVSA, not including the surcharge for the IVSA Central Fund, shall be covered from the Central Fund of IVSA.

No expenses shall be reimbursed before valid receipts documenting the expenses are handed to the Treasurer and the ExCo has agreed in an ExCo meeting to grant these specific expenses to the recipient.


Trust

Expenses

The positions of the Trustees shall be honorary and Trustees shall be entitled to the expenses necessarily incurred in the course of their work for IVSA only in special circumstances when so decided by the GA.


Membership

Active member status

A member will be considered active if they have by November 1st of the current Financial year or the end of the application period for the Symposium of the current Financial year, whichever comes first,

  • paid their membership fee
  • updated their contact information by sending the current name and email of their Exchange Officer and local President to the ExCo

If these conditions are not met the member shall be considered inactive.

Inactive member status

If a member is considered to be inactive they will not be allowed to vote nominate or be nominated become delegates of Congresses or Symposia. If a member has been inactive for two (2) full Financial years, their membership will terminate automatically and they will need to reapply should they wish to rejoin IVSA.

Until the membership is terminated, all past membership fees (up to a maximum of two (2) years) are due for the member to be reinstated as an active member.

Once membership has terminated, all membership dues will be considered lost and reapplication will not require payment of past dues.


Finances

Official currency

The official currency of IVSA is the Euro.

Regulations for the Annual Budget

The Annual Budget includes all income and expenses related to the management of IVSA and the expenses of the ExCo and the Secretariat. The Treasurer together with the President-Elect shall draft the Annual Budget for the upcoming Financial year to be presented to the General Assembly during Congress.

The Annual Budget must be adopted by the General Assembly. In case the proposed Annual Budget is not adopted, the General Assembly shall make the necessary amendments for the Annual Budget to be adopted.

Travel expenses exceeding the Annual Budget will not be refunded. Expenses, which are not related to travel, may exceed the budget, but not by more than 25 %.


Regulations for the Financial Report

The Financial Report shall be audited by the Auditors with the assistance of the Post-Treasurer.

Any member of IVSA in good standing may serve as an Auditor unless the General Assembly considers there to be a conflict of interest.

Members of the outgoing ExCo and outgoing Secretariat are not eligible to serve as Auditors.

The Auditors shall be appointed by the General Assembly at Congress.

The term of the Auditors shall be the same as that of the Post-Treasurer.

The Auditors shall report directly to the General Assembly at Symposium.

The Post-Treasurer is responsible for producing electronic copies of the financial records of IVSA as well as the adopted Annual Budget for the Financial year to the Auditors. The Secretary General is responsible for producing electronic copies of the current IVSA Constitution and Bylaws to the Auditors.


Funds

Central Fund

Aims

The aim of the Central Fund is to enable the functioning of IVSA.

Finances

The Central Fund shall be financed by Membership fees, and in addition may be financed by subsidies, donations, legacies and other contributions.

The accounts of the Central Fund shall be managed by the Treasurer. The account details shall be made available for membership fees to be paid and donations to be made into the Central Fund.

The Financial Report shall include the accounts of the Central Fund.

Management

The ExCo shall have sole responsibility for the management of the Central Fund.

Development Fund

Aims

The aim of the Development Fund is to enable veterinary education in disadvantaged countries. Receipt of a Development Fund grant automatically entitles the recipient to free membership of IVSA for the current Financial year.

Finances

The Development Fund may be financed by subsidies, donations, legacies and other contributions.

The Development Fund shall be separate from the Central Fund of IVSA.

The accounts of the Development Fund shall be managed by the Treasurer. The account details shall be made available for donations to be made into the Development Fund.

The Financial Report shall include the accounts of the Development Fund.

Management

The ExCo shall have sole responsibility for the management of the Development Fund.

Scholarship Fund

Aims

The aim of the Scholarship Fund is to financially assist disadvantaged veterinary students in their attempts to see practice outside their native country or to attend an IVSA Congress or Symposium.

Finances

The Scholarship Fund may be financed by subsidies, donations, legacies and other contributions.

The Scholarship Fund shall be part of the Central Fund of IVSA.

The accounts of the Scholarship Fund shall be managed by the Treasurer. The account details shall be made available for donations to be made into the Scholarship Fund.

The Financial Report shall include the accounts of the Scholarship Fund.

Management

The ExCo will appoint a member of the Secretariat to manage the Scholarship Fund.

The application procedure for the Scholarship Fund shall be made available online.

The appointed Secretary shall collect and present all received applications to the ExCo.

The ExCo shall decide the student or students awarded with funds from the Scholarship Fund.

Reserve Fund

To ensure the continuity of the organization, IVSA shall possess a Reserve Fund consisting of no less than 10 % of the Annual Budget.

Finances

The Reserve Fund shall be financed from the Central Fund.

The Reserve Fund shall be separate from the Central Fund of IVSA.

The accounts of the Reserve Fund shall be managed by the Treasurer.

The Financial Report shall include a statement about the Reserve Fund.

The capital of the Reserve Fund may only be released with the approval of the General Assembly.

The Reserve Fund may be invested in low risk investments.


Meetings

  1. Attend Congress, Symposium, internet meetings (3-4) and two live meetings (at least via skype)
  2. Dates of internet and live meetings to be decided on by Exco during the year.


Treasurer reports

  1. Pre-Symposium report – formal
  2. Pre-Congress report – formal

The President will let you know when the formal reports (those are printed in the proceedings of the Symposium and the Congress) are due.


Presentations to the General Assembly

Symposium halfway through your term

  1. Preliminary Financial Report of the first half year of your term.
    1. Work with Treasurer’s Budget for the current fiscal year which began in September
    2. Not for approval

Congress at the end of your term as Treasurer

  1. Budget for next fiscal year 2015-2016
    1. Create the budget based on last year’s file, in cooperation with the President-Elect, then check it with the whole ExCo in an ExCo meeting before presenting it to the GA.
    2. This is a rough estimate of the budget for the next year projected from the IVSA financial uses of this year.
    3. The budget is to be presented to the GA at Congress, and it requires approval of the GA
  2. Preliminary Financial Report covering the whole year until the Congress month.
    1. Not for approval
  3. Membership fee of each MO for coming fiscal year (which will depend on the base facto)

Printing out the files before presentation helps delegates understand better. Showing charts or other formats to visualize financial status is also useful.


Bank Accounts

  1. One account is in use by IVSA
    1. Danske – Danish account
      1. You will be given access to the Danske Bank account following Congress (ID and code).
      2. This should be the sole account used from now on
    2. Keep track of money in accounts, payments made, and money received
    3. All payments and reimbursements are made in Euros from the currency account.
    4. All the incoming transfers in Euros come into the DF account and all those in USD come into the CF account. It requires constant relocation and management.


Reimbursements (made through bank accounts online)

  1. Send “Expense Report” to officers for reimbursements
  2. Receipts (or copies of) are required for reimbursements
  3. Reimburse Exco Officers for travel fees to the IVSA Congress, the IVSA Symposium, and half of the travel costs for each of the two live meetings in between (spring and fall)
  4. Reimbursements for Secretariat are only foreseen at Congress, except in exceptional circumstances, e.g. if the DAD couldn't be present at Symposium, when the Secretary takes over the Officer’s work. In such a case, the reimbursement should be discussed and decided by the ExCo!
  5. Reimbursements for Trustees are only possible in special circumstances when the GA grants this.
  6. ExCo can ask for ‘Early Approval’ if needed, in special circumstances.
  7. Request everyone to send in their reports within a month or so after each event. Designate a date for executing the transfers (for example: 1st of each month) Confirm once again everyone’s reimbursement details before the transfer and check if they received it well.
  8. Reimbursement can be made in their own currency if requested.
  9. IVSA covers the transfer fee, either by adding the fee to the reimbursement amount (to EU countries with constant transfer fee) or by selecting ‘sender bears the cost’ option.


Payments and fees

Fee calculation: Base * GDP * Size factor

Base factor = € 22,- (2012-13, 2013-14)

  • The Base factor is a constant determined annually by the General Assembly. The value of the Base factor will be updated into the Manuals each year (including the “Decisions Made by the GA” Manual) to make it easy to see how and when the fee has changed
  • The GDP factor stands for nominal per capita gross domestic product and is aimed at equalizing the membership fees between high and low income countries. The statistics used are the latest available nominal per capita GDP figures from the International Monetary Fund (IMF). The basis of the comparison is the highest nominal per capita GDP of the countries with an IVSA member to which all other countries will be compared.
nominal per capita GDP GDP factor
> 55 % 6
> 45 % ≤ 55 % 5
> 35 % ≤ 45 % 4
> 25 % ≤ 35 % 3
> 15 % ≤ 25 % 2
≤ 15 % 1
  • The Size factor stands for member size and is aimed at creating tiers in the membership fees according to the size of the Member
Number of members Size factor
< 50 0,5
< 100 1
< 250 2
< 500 3
< 750 4
< 1000 5
< 1500 6
< 2000 7
< 3000 8
< 5000 9
≥ 5000 10


  1. Membership fees:
    1. Update the excel document “Fees Database” and generate new membership fees for the fiscal year with the following changes:
      1. GDP of most recent year – GDP values for calculations are from the UN website: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita
      2. Changes to number of members for group memberships if any
      3. “Fees Database” will generate membership dues numbers in the “Fees 2013/14 (Euro)” column
    2. Group and Individual Membership fees
      1. Invoices are sent at the start of September of that fiscal year. (“Member Invoice” template already made) Payment is due 14 days after receiving the invoice and a reminder is sent again if payment is still not received after those 14 days.
      2. Payment must be done by November 1st of the current Financial year or the end of the application period for the Symposium of the current Financial year, whichever comes first, otherwise the MO becomes inactive and attendance to the Symposium is not allowed.
      3. Some members will request to pay at Symposium as the wire transfer fee may be more than the membership fee. This is acceptable if a clear agreement has been made and payment is done immediately upon arrival. You can inform MOs about paying membership fees in cash at Symposium.
      4. Resend the invoices multiple times, be patient and try to give MOs time to stay active, instead of categorizing them as inactive too soon. Update the Inactive MO list and the Terminated MO list after the Symposium to keep track of which MOs turned inactive or had their membership terminated and when.
    3. New Members (group and individual)
      1. Invoices are sent throughout the year when they apply
      2. Usually, if we receive an application before or at Symposium the Treasurer will apply their dues for the current fiscal year, if received after Symposium of that fiscal year their fees and their membership will be applied towards the following year’s dues (they won't have a chance to be accepted as a new MO until Congress at the end of that fiscal year).
      3. Applications will be sent to the MOD who will then forward you the application for an invoice to be sent to the applying member.
  2. Additional Invoices:
    1. It is ideal to contact the OC Treasurer long before the event, explain exactly about the Central Fund surcharge (CF surcharge), and calculate the amount together
    2. 10% of Congress Fees - following event (CF surcharge of 10% is added onto the Congress fee that the OC decide)
      1. Invoices are sent following the event within two weeks to both the OC President and Treasurer. To calculate the amount from the total Congress fee that delegates paid, you can divide the total fee by 1.1.
    3. 10% of Symposium Fees – following event (CF surcharge of 10% is added onto the Symposium fee that the OC decide)
      1. Invoices are sent following the event within two weeks to both the OC President and Treasurer. To calculate the amount from the total Symposium fee that delegates paid, you can divide the total fee by 1.1.

Financial check

In order to prevent any mistakes and to have an updated budget throughout the whole year, the financial status will be checked every two months. The Treasurer updates the finances and adds the current expenses and incomes to the budget. This file, together with an excel file of the bank accounts and all the receipts for reimbursements are send to the following people:

  • Treasurer's Secretary
  • Post-Treasurer (1st half year of the term only)
  • An additional member of the ExCo, Secretariat or Trust (up to the ExCo to decide which person will do this for the whole term)

These people will check if all the finances are in order and report back to the Treasurer.

When everything is in order the current balance is sent to the President and President-Elect (2nd half year of the term only) and can be shown to any IVSA member who would make a request to see this.


Petty Cash

  • Keep track of the petty cash for live reimbursements and payments
  • Amount kept in petty cash is at the Officer’s discretion
  • We have a small lock box with a key that can be used by either the DAD or the Treasurer


Treasurer’s monthly To-Do-list

!! Always keep up to date with the Books !!

September

  • Read Constitution & Bylaws
  • Create Membership Fee invoices and send them in the beginning of the month.
  • Check Membership Fee payments and remind chapters that haven’t payed.

October

  • Live meeting (usually around this time)
  • Prepare report (informal)
  • Prepare a summary of money in the accounts (informal)
  • Send out remaining membership payment confirmations and send out suspension letters for those who did not pay (discuss with ExCo first)
  • Make an active chapter list together with the MOD
  • Get in touch with the OC for Symposium and make sure that all applying members come from active chapters

November

  • Reimburse ExCo for 2nd Live Meeting

December

  • Prepare for the Symposium

January

  • Attend Symposium
  • Prepare a summary of money in the accounts (informal)
  • Prepare an updated budget for the ExCo meeting and the GA
  • Send Symposium Invoice ((total registration fees paid minus exco fee)/1.1)
  • Transfer DF money raised at Symposium to the bank account (or make sure an ExCo member in a euro country does this to avoid costly bank fees)

February

  • Send invoices to new MOs
  • Update inactive MO list

March

  • Live meeting (usually around this time)
  • Prepare report (informal)
  • Prepare a summary of money in the accounts (informal)
  • SAVMA-Symposium: reimburse IVSA members according to the Hill's agreement and send an invoice – including all receipts – to Hill's

April

May

June

  • Create IVSA Budget for next fiscal year 2014-2015 in collaboration with the President and President-Elect
  • Prepare for transfer of Officer duties and documents (electronic and paper) for new Treasurer
  • Prepare for Congress

July

  • Attend Summer Congress
  • Update the current year’s financials as much as possible to be able to answer the GA’s questions correctly
  • Give a presentation on the next year’s budget

Information About the Danske Account

Payment Details

Account Holder: IVSA Int. Veterinary Students Association

Account Holder Address: IVSA Int. Veterinary Students Association, Dyrlagevej 9, DK-1870 Frederiksberg, Denmark.

Bank: Danske Bank, Denmark

Mailing Address: Frederiksberg Afdeling, Falkoner Alle 55, 2000 Frederiksberg, Copenhagen, DK

Domicile Address: Frederiksberg Afdeling, Falkoner Alle 55, 2000 Frederiksberg, Copenhagen, DK

Account Number: 3306720430

SWIFT (BIC): DABADKKK

IBAN: DK4630003306720430


Access to the Danske account:

This will be given by old Treasurer (ID, password and codes).

Within the Danske account there are the following sub-accounts:

  1. Corporate account, Credit card (Nr: 4571 3306 2335 3309)
  2. Currency (main) account – used for reimbursement of officers and other payments (number: 3306720430)
  3. Currency DF account – used for Development Fund transactions (number: 3719326730)
  4. Currency SF account – used for Scolarship Fund reimbursements (number: 3719326749)

Access http://danskebank.dk - Log on eBanking

Transferring money within the accounts:

  • To shift funds from one IVSA account to the other, use “Pay and Transfer” - “Transfer funds”

Transferring money abroad:

  • Use “Pay and Transfer” - “Transfer funds abroad” – money should be moved from the currency account only unless it is a payment from the DF-Fund.


Sponsors

Hills:

Hills is our main sponsor. We receive a sum of €20 000 every year. Additionally they double the money raised at the DF auction up to a maximum of €5000. They sponsor 2 ExCo members, the Top EO and the winner of the Hills contest to go to the SAVMA symposium. Also they agreed to give €5000, to sponsor group exchanges between countries that otherwise could not afford this. Please read the Hill's contract very carefully and make sure you understand all the details and your duties.

Invoices need to be sent separately for Central Fund sponsorship, SAVMA support, and DF. If requested, the Treasurer should create an ‘expense report’ and ‘budget expenses’ which includes only expenses part, for the Hill’s report.

Bayer:

We receive €15,000 for the Central Fund.

MSD:

MSD is the sponsor for the Scholarship Fund (SF). They give us €2000, in order to hand out two SFs. You send them an invoice for this €2000, and afterwards you can reimburse the two lucky recipients of the SF up to a €1000 maximum each. This money cannot be used for anything other than the SF.

Talk to the External Relations Officer and the Development Aid Director about the MAH-IVSA Sponsorship and Travel Grant Program.

Reserve Fund

This is currently set at minimum 10% of the annual budget, but the intention is that over the next few years, this should gradually be increased to a more substantial reserve fund.

The AVS (Association of Veterinary Students of Great Britain and Ireland) has a reserve fund to cover 300% of the annual budget - this would be a good target to aim towards.

Once a savings account has been opened for the Reserve Fund and we can clarify exactly how much we have there, the Treasurer should consider a Bylaws change to increase the minimum % of the annual budget in the Reserve Fund.


Funds

The IVSA has several funds. All of these funds are incorporated in the Currency account (with exception of the DF). The money in these funds has a specific purpose and cannot be used for anything else. Therefore, the incomes and expenses of these funds should not be put in the general budget but should be presented in their own little budgets.

The following funds are not described in the C&B:

Reduced fee fund:

The RFF has been started with money left from the Congress in Norway. This money was given to the IVSA in order to fund additional reduced fee spots at the Congress and Symposium in order to have more people from less privileged countries. The OC of the Congress should arrange 3 RF spots and the OC of the Symposium 2 RF spots (as stated in the C&B). The ExCo can decide how many extra spots they will fund for every event and inform this to the OC. As a guideline, perhaps not more than double the spots should be generated in order to maintain a healthy fund for the coming years.

Ideally, the coming OCs will also transfer their leftover money, if there is any, to this fund to keep it going. Please make sure the ExCo informs all starting OCs about this fund.

NEAT fund:

We have received a sum of money from NEAT that is only meant to reimburse travel and subsistence expenses of ExCo members in order to attend NEAT meetings (subsistence can include necessary food, local travel, and accommodation, with a maximum per diem rate depending on the country, which is far greater than IVSA representatives should need to spend).

The attending ExCo member should be able to get 74% of the costs reimbursed from this fund, the remaining 26% should be reimbursed from the Central Fund.

We haven’t spend a lot of money compared to the amount we received for this purpose. In 2013-14, the Treasurer suggested to NEAT to increase IVSA attendance at NEAT meetings and got a positive answer, so we are sending more people and spending more money. Still, we are not going to spend all the money we are allocated, hence a suggestion has been made to NEAT about redistribution of funds. They have not responded, but if they decide to reduce our allocated amount it might not necessarily mean we need to send money back, since we have received only part (€2200) of the amount budgeted for us, not the whole amount. If we don’t spend the money we have received for NEAT before the end of the project, we have to give the money left back to NEAT.

IVSA has been budgeted €5415 total staff costs and €2802 travel costs, i.e. €8217 total project costs.

Of these total costs, the EC will fund €5465 which in fact is about 66.5%. The remaining €2752 (roughly 33.5%) is expected to come from IVSA’s own resources.


Future Bank Plan

Because of previous problems with Danske Bank we are currently looking for a new bank. As our official currency is the Euro, it would be more logical to have the bank in a Euro country to limit transfer fees. We are also looking for a bank that has an easier way of changing the person responsible for the bank account (as we change Treasurer every year) without needing that person to fiscally present him/herself at the bank.

When we find a new bank, we will need the following accounts:

  • A main account, containing enough money in order to make all necessary transactions and from which all transactions will be made
  • A DF account, containing all the DF money and from which only DF related expenses will be made
  • A savings account, containing the Reserve Fund (the main bulk of the IVSA money in order to save for worse times).

Once the new bank accounts have been set up, IVSA should set up a PayPal account so that MOs can make membership fee payments at greatly reduced cost.

Other points

The Treasurer should remind ExCo and Secretariat members, particularly in advance of meetings for which their travel expenses may be fully or partially reimbursed, of the importance of ensuring they have valid receipts for all such expenses.

The Treasurer must send the membership fee invoices during the first week of office, meaning by September 8th of the current Financial year.

The reason for the hurry to get the invoices out is that in a "worst case scenario" (shortest time), Symposium could be held starting December 1st. This would mean the application period would have to start September 2nd (90 days prior) or earliest on September 1st (start of current Financial Year). If the application period then lasted for the minimum 30 days, then on October 1st or 2nd (depending on the start of the period), the applications could close. Since the active status of a Member Organization is linked to the closing date of the application period of the Symposium (for a good reason: to only accept delegates from MOs that have paid their membership fees), the MOs only have the month of September to pay their membership fees. If the membership fee invoices don't arrive early enough during September (or not at all before the closing of the application period to the Symposium...), we will have an empty Symposium, because all delegates will be disqualified due to their MO falling into the "inactive" category.

Reimbursement of travel expenses before events have taken place can be considered in certain special circumstances. As Treasurer, you should make the others aware of this possibility, but it should not be used as a routine method of reimbursement (which normally happens after an event has taken place). “Special circumstances” could include that a particular ExCo member would otherwise not be able to afford to buy a ticket for an event (due to their personal financial status relative to the cost of the event and/or it being necessary to buy tickets a long time in advance to save IVSA money). The President is the ExCo member most likely to require such reimbursement as they are normally the one who travels the most on behalf of IVSA.

Reimbursement of “travel expenses” for an event can, according to our Bylaws, include any expenses related to the event, including necessary accommodation, food, etc. e.g. If it is important that an ExCo member pay for a formal dinner at an event they attend on behalf of IVSA, this can be considered a necessary expense.

It is possible (or even likely) that members may wish to travel before or after an event for which travel expenses are covered by IVSA, and so may not actually travel directly to the event location from their home location, or to their home location from the event location. The amount to be reimbursed in the case that those being reimbursed wish to travel before or after an event (not including pre-/post-Symposium/Congress) should be limited to the amount that would be paid for a reasonable return flight to and from the location of the event using the same search engine that was used to book the flight(s) on the equivalent dates and booked on the same day. The recipient should provide the documentation of this to the Treasurer.

Subscriptions, Congress and Symposium Fees

  • The Treasurer and the current OCs need to be informed about payment options such as Paypal and Seta-payments (low cost electronic payments inside EU) to avoid charging unnecessary banking fees from delegates or MOs.
  • The membership fee and the individual supportive member fees should be increased periodically (every 1-2 years) to take into account the effect of inflation, even if there is no other reason to increase the fees.

Rather than membership fees being paid into the Central Fund bank account directly (incurring transfer fees), the Treasurer should look into whether it is possible to set up an IVSA paypal account (or similar), linked to the central fund bank account, which membership fees can be paid into, before they are transferred to the central fund bank account, incurring much reduced fees. This is particularly important for Individual Supportive Members!

If a MO is declared inactive and cannot send delegates to Symposium, as soon as they fulfill the conditions to be an active member they shall be reinstated; so as long as this happens before the end of the application period for Congress, they can apply for Congress

Post-Treasurer

The Post-Treasurer should provide the auditors with electronic copies of the financial records of IVSA for the previous financial year, as well as the adopted annual budget for that financial year. Obviously they will need a copy of the Financial Report too!

The Financial Report of your year as Treasurer, to be presented at the Symposium following your term as Treasurer, needs to include the accounts of the Development Fund, the Scholarship Fund (part of the Central Fund) and the Reserve Fund.


back to IVSA ExCo, Secretariat and Trust Manuals