Financial Report June 3, 2013 Melbourne, Australia

1. Financial Report June 3, 2013 Melbourne, Australia Jian Sun Treasurer

2. 2012 Balance Sheet IEEE USD FM13-12 29-MAR-2013 08:18:24 Business Unit=0350 (Power Electronics) MAR-12 APR-12 MAY-12 JUN-12 JUL-12 AUG-12 SEP-12 OCT-12 NOV-12 DEC-12 FM13-12 Accts Receivable 258 205 190 265 259 259 231 231 232 450 450 Loans/Advances Receivable 104 104 104 104 109 109 179 199 199 199 199 Prepaid Expenses 11 5 5 6 6 4 13 13 9 11 5 Fixed Assets 0 0 0 0 0 0 0 0 0 0 0 Pooled Assets 3,837 3,624 3,515 3,581 3,541 3,401 3,378 3,299 3,235 3,032 4,283 --------- --------- --------- -------- -------- --------- -------- -------- --------- -------- --------- Total Assets 4,209 3,938 3,814 3,955 3,915 3,772 3,801 3,743 3,675 3,691 4,936 ========= ========= ========= ========= ========= ========= ========= ========= ========= ========= ========= Accts Payable 0 0 0 0 0 0 0 0 0 0 0 Deferred Income 0 0 0 0 0 0 5 58 96 197 197 --------- --------- --------- -------- -------- --------- -------- -------- --------- -------- --------- Total Liabilities 0 0 0 0 0 0 5 58 96 197 197 --------- --------- --------- -------- -------- --------- -------- -------- --------- -------- --------- Net Worth 4,209 3,938 3,814 3,955 3,915 3,772 3,796 3,685 3,578 3,494 4,739 --------- --------- --------- -------- -------- --------- -------- -------- --------- -------- --------- Total Liabilities & Net Worth 4,209 3,938 3,814 3,955 3,915 3,772 3,801 3,743 3,675 3,691 4,936 ========= ========= ========= ========= ========= ========= ========= ========= ========= ========= ========= Cumulative Surplus/Deficit 267 -4 -128 13 -27 -170 -146 -257 -364 -448 797 Prior Year Reserve 4,039 4,039 4,039 4,039 4,039 4,039 4,039 4,039 4,039 4,039 4,039 Infrastructure Reserve Loan -97 -97 -97 -97 -97 -97 -97 -97 -97 -97 -97 --------- --------- --------- -------- -------- --------- -------- -------- --------- -------- --------- Net Worth 4,209 3,938 3,814 3,955 3,915 3,772 3,796 3,685 3,578 3,494 4,739 Available Net Worth on Jan 1, 2013: $4,739.2 K: We have up to 3% * $4739.2K = $142.2K available for new initiatives for 2014 For the 50% rule allotment for 2013 forecast we have $209.9K.

3. 2013 Final Approved Budget This is the 2013 final approved budget by IEEE TAB. Slight difference in original proposed due to global reduction applied by TAB to travel expenses.

4. Chapter Workshops ($20K) - This initiative is to support the PELS Chapters through educating them on policies and procedures as well as benefits available to them from the society. The events are strategically placed to coincide with PELS flagship conferences for 2013 to gain maximum attendance from the chapter chairs as well as encourage the formation of new stand-alone or joint chapters. Technical Committee/Industry Outreach ($45K)- This initiative is to help support increased activities of the technical committees in particular activities involving the conferences (encouraging them to follow the successful model of the INTELEC TC) , funds will be used in supporting TC Meetings and TC participation in industry outreach to gain increased participation from applications (industry) engineers. Webinars ($25K)- This is initiative will serve to support the development of PELS Webinars as the present IEEE tool restricts attendance to 200 the last webinar had 500 registrants which exceeds the capacity of the IEEE platform. Based upon the success of this initiative this will translate to a fee-based or self-sustaining product offered to both member and nonmember alike.

5. 2013 Revenue: Increased Dues & Subscription Please note that the final budget shows a reduction in Editorial costs.