Re: [802SEC] best practices agenda 11-noon Wednesday Regents Boardroom
I agree with Buzz on #5. I can't understand why we would absolutely ban
non-contracted expenditures. Definitely this should be used on a strict
exception basis, but exceptions must be allowed for. The only
restriction I see worthwhile is approval by the EC on the specific item
(not as part of a larger approval).
John Lemon
Rigsbee, Everett O wrote:
> Paul, I have 2 comments on your suggestions:
>
> #2 Wachovia is available in less states than US Bank. Bank of America
> is everywhere and has state-of-the-art web support tools. As long as we
> give IEEE a signator I see no reason to choose Wachovia. I still think
> there is value in maintaining our independence.
>
> #5 We don't normally do this so it is not a problem for 802. But if
> there were to be a case where we felt a 3rd party vendor went so far
> above and beyond the expected level of service that a significant bonus
> was warranted, we would agree to submit a written justification for the
> extra expense. It is not possible to anticipate every possible
> circumstance in a contract document, so having some latitude in making a
> discretionary judgment is important particularly in situations where a
> future engagement with that vendor is a likely possibility. Excellent
> Service is becoming such a rare commodity that when you get a shining
> example you really need to acknowledge it because it greatly increases
> the chances that you will see it again next time. This is clearly the
> kind of thing that if abused is a serious problem, but if used
> judiciously can greatly enhance the overall service level received.
>
>
> Thanx, Buzz
> Dr. Everett O. (Buzz) Rigsbee
> Boeing IT
> PO Box 3707, M/S: 7M-FM
> Seattle, WA 98124-2207
> Ph: (425) 373-8960 Fx: (425) 865-7960
> Cell: (425) 417-1022
> everett.o.rigsbee@boeing.com
>
>
> -----Original Message-----
> From: Paul Nikolich [mailto:paul.nikolich@ATT.NET]
> Sent: Monday, March 12, 2007 12:17 PM
> To: STDS-802-SEC@listserv.ieee.org
> Subject: [802SEC] best practices agenda 11-noon Wednesday Regents
> Boardroom
>
> Dear EC,
>
> Attached below are the best practices recommendation from the Audit
> Committee that we will address during the 10-11WED meeting. My
> suggestions for responses are below.
>
> 1) Acknowledge that LMSC assets are IEEE property
> - AudCom suggestions: Confirm your understanding that LMSC assets are
> IEEE property, and that the EC and the LMSC working groups, as "steward"
> of these assets, acknowledge their responsibility to manage them
> appropriately.
> - My suggestion: 802 to craft text agreeing under the condition LMSC
> assets remain under exclusive control of LMSC.
>
> 2) All bank accounts to have at least two volunteer and one IEEE staff
> signators Staff Director of Financial Service as staff signator on all
> accounts.
> - AudCom suggestions: Migrate to IEEE concentration banking (Wachovia)
> Develop a plan and schedule to complete the migration to concentration
> banking by the end of 2007.
> - My suggestion: 802 to implement
>
> 3) Submit all supporting financial materials for year-end audits by
> agreed-upon deadline
> - AudCom suggestions: LMSC will submit outstanding 2005 data by 31 March
> 07. LMSC and the Audit Department will work together to determine future
> due dates for financial reporting.
> - My suggestion: 802 is in compliance and plans to meet Audit Department
> deadlines going forward.
>
> 4) Document use of competitive bidding in selection of suppliers, or
> supply rationale for non-use
> - AudCom suggestions: All contracts submitted for execution will
> document the use of competitive bidding in the selection of suppliers,
> or supply rationale for non-use.
> - My suggestion: 802 is in compliance, competitive bidding selection is
> documented in EC meeting minutes.
>
> 5) 3rd party bonuses must be clearly documented in the contract;
> otherwise they are prohibited
> AudCom suggestions: This best practice will be followed.
> My suggestion: I don't have one.
>
> 6) Report Conflicts of Interest regarding business matters
> - AudCom suggestions: The IEEE Policy regarding conflicts of interest
> will be followed.
> - My suggestion: 802 is in compliance, COI policy is followed.
>
> Regards,
>
> --Paul
>
> ----------
> This email is sent from the 802 Executive Committee email reflector.
> This list is maintained by Listserv.
>
> ----------
> This email is sent from the 802 Executive Committee email reflector. This list is maintained by Listserv.
>
>
----------
This email is sent from the 802 Executive Committee email reflector. This list is maintained by Listserv.