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The IEEE 802 LMSC Treasurer shall be notified within 30 days of the bank, account
number, account title, and authorized signers for the account when the account is opened
and whenever any of these items change.
e)
The Working Group may open and maintain one or more Working Group merchant
accounts for the settlement of credit card transactions. The title of each merchant account
shall begin with “IEEE” followed by the numerical identity of the Working Group (e.g.,
IEEE 802.1). Each Working Group merchant account shall be linked to the Working
Group bank account. The IEEE 802 LMSC Treasurer shall be notified within 30 days of
each merchant account, account number, and account title when the account is opened
and whenever any of these items change.
f)
All funds collected and/or received by a Working Group shall be deposited in the
Working Group bank account.
g)
All funds retained by a Working Group shall be held in the Working Group bank account
or in IEEE approved investments.
h)
The Working Group may disburse and/or retain funds as appropriate to pay approved
expenses and maintain an approved operating reserve.
i)
Signature authority for any Working Group financial account is restricted to those IEEE,
IEEE SA, and Computer Society officers and/or staff that are required to have signature
authority by IEEE, IEEE SA, and Computer Society regulations; to IEEE 802 LMSC
officers and to the officers of the Working Group owning the account, with the sole
exception that, at most, two other individuals may be granted signature authority for the
Working Group bank account for the sole purpose of assisting the Working Group in
conducting its financial operations, provided that each such individual has provided
agreements, indemnity, and/or bonding satisfactory to the IEEE. The granting of
signature authority to any individual other than the Chair, Treasurer, IEEE 802 LMSC
Chair, and IEEE 802 LMSC Treasurer and those required by IEEE, IEEE SA, Computer
Society, or IEEE 802 LMSC regulations shall be by motion that is approved by the
Working Group.
j)
The Working Group shall prepare and maintain its own accounting and financial records.
k)
The Treasurer shall prepare for each Working Group plenary session a financial report
that summarizes all of the Working Group financial activity since the last such report.
The report shall be submitted to the IEEE 802 LMSC Treasurer before the opening of the
session, shall be presented to Working Group membership at the opening plenary meeting
of the session, and shall be included in the session minutes. The format and minimum
content of the report shall be as specified by the IEEE 802 LMSC Treasurer.
l)
The Treasurer shall prepare and submit an audit package for each calendar year during
any portion of which the Working Group operated with treasury, as required by IEEE
regulations. The package shall contain all material required by IEEE Audit Operations for
an IEEE audit and shall be submitted to the IEEE for audit or to the IEEE 802 LMSC
Chair for local audit, as required by IEEE audit regulations. If the package is submitted to
the IEEE, a summary of the Working Group’s financial operations for the audit year shall
be submitted to the IEEE 802 LMSC Chair at the same time that the audit package is
IEEE 802 LMSC Operations Manual, v24 Revised August 31, 2020
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