ISA Division Financial Management Guide

d. Financial Statements- ISA staff will issue a quarterly financial statement for each Division. Financial statements will be issued for periods ending: March 31, June 30, September 30, and December 31.

e. Division Reserves - Division reserves should be adequate, but not excessive. As a general guideline, a reserve fund approximating the Division's annual budget should be adequate. If a substantial reserve exists, Divisions will have to give reasons for such a reserve.

f. Tax and Information Returns - ISA is exempt from federal income tax as a 501(C3), Educational and Scientific Organization. As such, ISA is required to file an annual information form that includes the consolidated transactions of all Divisions at the close of each fiscal year. It is imperative that all Division income and expenses be promptly reported to ISA so that this information is included in ISA's consolidated return.

g. Insurance - The Society provides liability and property damage insurance coverage for Divisions conducting business according to ISA policy. This protection includes: Division-sponsored meetings and exhibits; but because circumstances and conditions differ, Divisions are urged to contact the ISA Director, Finance and Administation to determine if coverage of a specific meeting is adequate.

When a Division-sponsored meeting/exhibit requires the services of a subcontractor, Divisions are required to obtain a certificate of insurance indicating that the subcontractor is insured. It is especially important to request a certificate of insurance when engaging shuttle buses and other commercial carriers for any Division event. Subcontractors should be instructed to mail their certificate of insurance to the ISA.

Divisions sponsoring exhibits must notify exhibitors to hold ISA harmless from any liability, to insure their display materials and insure for injury to persons and property of others

• Liability and Property Damage - ISA's liability and property damage coverage protects the interests of ISA for legal claims against the Society.
• Theft- Minor coverage such as theft, etc. are not covered by ISA's insurance.
• Bonding - There is no bonding of Division members since the Division financial accounts are maintained at ISA.

h. Dissolution - In the event of dissolution of a Division, any funds remaining in the Division reserve fund, after satisfaction of all outstanding debts, shall be transferred to the Society's general fund.

i. Officer Expense - Division Directors may use Division funds to support their travel to the President's Meetings. No more than $1000 for any one trip however, nor more than $2000 in any one budget year.

2. Membership Dues and Society Subsidy

a. Division Membership - Membership in any ISA Division includes an annual dues payment of $5.00. All Divisions shall be governed by the following dues collection procedures:

• Invoicing - Division members will be invoiced simultaneously by ISA for both Division dues and Society dues.
• Renewals - Quarterly each year, ISA staff will send each Director a list of the Division members whose membership has not been renewed. The responsibility of urging members to renew their Division membership is on the Division and may be delegated by the Director to a Division membership chairman. However, ISA will issue two reminder notices each year to Division members who neglect to renew their Society dues.
• Expiration - Members who do not renew their Division membership will be removed from the active Division
• Complimentary first-year DIvision membership. Use of Division funds is allowed, however, to pay for no more than one, free-trial membership for ISA members who have never previously been members of that Division, provided the expenditures are part of the approved Division budget.
• Membership Extension - Members who join Divisions during the last four months of their Society dues year will be granted full Division membership throughout the entire following Society dues year.

b. ISA Subsidy for New Divisions - The ISA Executive Board may provide a financial subsidy to assist Divisions in attaining their objectives by extending support as follows:

• Division Status - The Society will provide a base subsidy of $500 per year for three successive years, commencing in the first ISA fiscal year after Division status is established. (Divisions must have at least 100 dues paying members @ $5 each and obtain Executive Board approval in order to achieve Division status.)
• Society Matching - If income from Division dues exceeds $500 for each of the first two ISA fiscal years after Division status has been attained, the Society will match the additional dues income on a dollar-for-dollar basis up to a maximum of $900, in addition to paying the $500 base subsidy. (For example, if Division membership dues total $600, the Society pay into the Division's reserve fund an additional amount of $100 beyond the $500. If Divisional dues total $1000 or more, the Society pays the maximum additional amount of $900 beyond the $500 provided.
• Additional Society Matching - In the third ISA fiscal year after Division status has been attained, if income from Division dues exceeds $500, the Society will match the additional dues income on a fifty-cents-for-dollar basis, up to a maximum of $550, in addition to paying the $500 base subsidy. (For example, if Division membership dues total $600, the Society pays into the Division's reserve fund an additional amount of $550 beyond the $500 provided.
• Independence - During the fourth and subsequent ISA fiscal years, each Division is expected to sustain its operation from its own membership dues and revenue generated through Division Symposia and from participation in the Society's annual technical conference.

3. TECH/EXPO Programming Honorarium Plan

Honoraria will normally be voted on by the Executive Board and transferred into the budget of the programming Division immediately following the presentation of the program:

The maximum honorarium award to each Division is $4,000. Divisions can earn programming honoraria by participating on Committees, developing Plenary Sessions and Technical Sessions or by organizing an issue/solution-based demonstration in the Technology Center, or by serving as paper reviewers.

4. Publications Coupon Plan For Divisions

The Publications Coupon Plan is a membership service that enables Division members to purchase publications at a discount. Essentially, when joining a Division(s), a Publications Coupon is attached to the ISA membership card and can be redeemed at face value. The Publications Coupon plan is available on an optional basis to Divisions to help broaden the base of services to their members. The Publications Coupon Plan shall be initiated by authorization of Division Directors to ISA and shall be operated as follows:

• Redemption Value - Each Division member will be mailed a non-transferable coupon with a $5 redemption value.
• Face Value - Division reserve funds are charged at the face value of the coupons actually redeemed. However, no Division shall be charged more than 25% of the face value of issued coupons regardless of the number redeemed. For purposes of preparing Division budgets, a suggested estimate is that .02% of all coupons distributed will be redeemed.
• Application - Division members will be informed that the coupons can be applied as full or partial payment toward reprints, standards, and other publications. Ordering information covering these publications will also be provided.
• Void - Coupons will be void after the date imprinted on each coupon.

5. Division Awards

a. Recognition - Divisions may establish awards to recognize achievements by Division members or other individuals in areas related to the scope of the Division, in accordance with the following procedures:       Standing Awards Committee - The Division, having 100 or more members, must establish a Standing Awards Committee, normally chaired by the Past Director. The committee shall meet the following requirements:
      1. Must include at least one Past Director (more are recommended).
      2. Must be organized to broadly represent the scope of the Division.
      3. Must have at least two-thirds of the total committee membership
      concurring before selection of a recipient.
      4. Must review awards and procedures, recommending changes as required.

b. Specifications for Award - The Division Awards Committee introduces a new award based on the following specifications:

• A description of the award and the qualifications of the recipient. The name of the award, if any, may not include the word "distinguished," which is reserved for Society awards.
• Honoraria awards will be subject to the following limitations:
  1. shall be limited to a total value of $1500, except awards that existed prior to 1971 may have a total value of $250 or the 1970 value, whichever is lower;
  2. may be budgeted by the Division (or by the symposium, if appropriate);
  3. will be sponsored only where complete assurance is available so that sponsorship will cause NO pressure in administration of the award and so that sponsorship will be available for at least three years.
• Administration procedures for the award include:
  1. nomination and judging procedures
  2. certification by the Division Director of qualifications of the proposed recipient prior to any announcement
  3. place and manner of presentation at an appropriate time, such as the Division symposium, a membership meeti;ng, or an Annual Conference paper session
  4. notification of the Division Newsletter Editor
  5. notification of ISA's Executive Director for listing in Society publications and, where space permits, in the current Society Honors & Awards Program with other Division award winners for the current year. Recipients will be reported to the Executive Board for information annually.

6. Financial Policy for ISA TECH/Symposium Management with Divison Participation

a. Symposium Scheduling and Financial Responsibility - The total responsibility for financing and scheduling a symposium lies with the sponsor(s) who will assume or share the surplus or deficit resulting from the symposium activity. Other participants shall be budgeted honoraria by the sponsors in accordance with a prior agreement, subject to pro rata reduction, in the event of a final deficit. In no case shall "other" participants be required to share a deficit.

b. Headquarters Support - ISA staff support is available to assist in scheduling, laying out publicity programs, collecting papers, or making hotel arrangements without charge to the symposium budget. Direct, non-salary costs incurred to support the symposium for items such as travel, printing, and supplies (badges, labels) will be charged to the symposium budget.

c. Sponsorship - Sponsorship of a symposium may be undertaken by organizational units of the Society. When multiple sponsorship is undertaken, the sponsors shall prepare a written agreement setting forth in specific detail the administration and fiscal authorities and responsibilities of the sponsors, the degree to which each will share in any surplus or deficit, and the arrangements made to furnish honoraria to the other participants. This agreement shall be signed by the administrative head of each sponsoring unit and shall be submitted to ISA and the responsible vice president(s) for review at the same time as the budget request is submitted. ISA staff shall review the agreement and recommend approval, disapproval, or modification of the agreement. The agreement shall be submitted by the responsible vice president(s) to the Executive Board for action.

d. Budget Preparation - Where a Division is involved in sponsorship, the sponsor(s) shall prepare the budget and submit it to the responsible Department Vice President and ISA staff for review at least one year prior to the symposium scheduled date. In those cases where financial responsibility is shared, including any surplus or deficit, all sponsoring parties must approve the budget and have agreement on the method for approval of payment of expenses. Note: The District Vice President is responsible for the Section sponsor(s) and the Department Vice President is responsible for the Division sponsor(s). In case of joint sponsorship, all involved vice presidents must review and approve the budget.

e. Budget Approval - The budget shall be presented by the responsible Department(s) and/or District(s) Vice President to the Executive Board for approval. Any subsequent revisions of the budget shall be subject to the same review procedure and Executive Board approval as the original budget. When a section(s) is the only sponsor, the budget is presented to the Executive Board for information only.

f. Symposium Funding - When requested, the Society shall provide the initial funds for operation of the symposium committee after budget approval. This money must be a budget item and must be repaid before calculation of surplus or deficit.

g. Final Accounting - At the conclusion of the symposium and after all bills are paid, a final report is to be made to the Executive Board by the responsible vice president(s). The report must include a copy of the approved budget with an additional column showing the actual receipts, expenditure, and distributions. The Host Committee shall prepare and send a list of the conference registrants and exhibitors to each sponsor, participants, and ISA staff.