finance
The Finance subteam PROJECT/SUBTEAM BOTTOMLINE The VP Finance is responsible for the financial and legal management of AIESEC International in order to guarantee the sustainable growth and evolution of the organization. The VP Finance is also responsible for all the global investments and decision making process management as well as the overall governance of the AIESEC International to different stakeholders. Lastly the role also includes the administrative responsibilities inside AIESEC International, contracts management and the support to the network in terms of financial and legal management.
PEOPLE INVOLVED Johannes Ide. Vice President Finance
Supported by
Patricia Sureveen. Office Manager FLB.
AIESEC International Q3 2014 Report
efforts GENERAL COMMENT Q1 is a quarter of high external pressure for finance, especially the external audit phase (till July) and IC (August) demand a high efficiency in the normal operations. The transition of the office manager was something new and hence not as efficient as planned.
INDIVIDUAL EFFORTS Johannes Ide. Financial management (inlc audit) (40%), Legal management (10%), Risk management (10%), ILM management (10%), Office manager transition (10%), Legislation (10%), other contributions to team (10%)
AIESEC International Q3 2014 Report
OUTCOMES Q3 MILESTONES CHECK Finance Quarter Review (achieved)
Regional Finance Summits (achieved)
Risk Management – Israel Proposal (achieved 60 – 80%)
Ongoing Office and Finance Management (achieved 80-90%)
New quarter review process with acountant in place and executed
First out of 3 summits delivered, next summits folllow in Q2
Awaiting final proposals, then decision making process
Transition to new office management not as efficient, but crucial deadlines were fulfilled
MAIN KPIs MONITORING KPI Name
Planned
Achieved %
Budget achievement
100%
see budget
Transparency
70%
TBA
Sustainability
90%
TBA
Legality
60%
TBA
AIESEC International Q3 2014 Report
33%
To have accurate data for the quarter the FLB is only released on the 1° of October and will close on 31° of October. The Budget quarter is according to the financial year from 1° of June till 31° of August.
Results
Budget 1415 realized
BD Revenue: Budget Target:
604.000 € - 100 %
Incl. contracts to be signed:
Already Secured:
259.938 € - 43 %
Projected Result:
449,630 € - 74 %
617.397 € - 102 %
Quarter Balance Sheet realized
FLB Results Finance network related KPIs: • Transparency – results end of October after FLB survey • Sustainability – results end of October after FLB survey • Legality – results end of October after FLB survey • Empowerment – results end of October after FLB survey