Progress Report 2012 - Finance
Goals for the year : â€˘ Imparting financial knowledge to the LC so that all the decisions are taken keeping finance into the picture. Dissipating financial information through sessions, department meets etc. â€˘ Financial Sustainability in all Programmes and Events carried out throughout the year.
â€˘ Ready finance available for investments whenever required and helping the departments in keeping a financial mindset for their planning.
Dogs on top, always!
Financial Awareness in the LC Sessions were taken keeping the discussion to a level where everybody gets a view of how important finance is for the LC and how does it affect itâ€™s working. These sessions were finance oriented which laid focus to the working of it in the LC and also how all departments are connected to it.
Every GBM, a thorough financial report was given to make the LC aware of the state of Finance. Result â€“ Planning in the departments was now done keeping in mind the financial consequences. The LC members were much more aware of the situation than before and started questioning which was a good sign as it showed that they understood each and every thing. This was the primary objective which was achieved during this year.
Financial Sustainability All the four programmes generated a profit this year which showed a healthy financial state of the LC.
• GIP ICX – Rs. 68681 • GIP OGX – Rs. 14500
• GCDP OGX – Rs. 834550 • GCDP ICX – Rs. 143801 Events)
(As per audits sent to AIESEC India, Including GCDP *Figures as per tally
Major Events of the Year Events have also generated a profit for the LC :
• Discovering Hope – Rs. 2,44,240 • Udaan – Rs. 1,29,411 • Youth Carnival – Rs. 1,23,818
Major Investments •Accomodation Units and Office : A new accommodation unit was acquired to ease the flow of incoming interns. This unit had an attached office in basement which served as an easier option for also keeping in check with the interns. The operations were being held in the entire building which we named as the AIESEC Building. • Finance Driving Growth : • The “Summer Rush Campaign” was started for all departments. GCDP ICX won the campaign and we have seen a growth of 118% in the department which has served the purpose of the campaign. Discovering Hope and Udaan were also done keeping in mind the branding and raising for the GCDP ICX department.
â€˘ Paisa Card deal in Marketing. This led to a good branding strategy for the LC as these cards are very popular in Delhi and AIESEC was directly associated to them making it a good investment for the Branding and Marketing.
â€˘ Youth Carnival which had Empower as an event were both done with keeping in mind the GCDP OGX market appealing to the youth and also it led to raises for the department. This was a very good move as it gave branding, helped GCDP OGX and also generated a profit.
Innovations New innovations were thought of for the Quality department which was directly under the Finance Portfolio. MRF – A Match registration form was introduced which required all TN managers to register their match which helped in creating a central database for all the interns which helped in planning for accommodation and also helped in reaching out to all of them as a group. OTF – “On Time Full” is a strategy which is being used to keep in check the members who are responsible for the EPs coming in. It has a series of 8 questions which are steps that need to be achieved, each step is then marked 1 or 0 and a final score out of 8 is taken out. 8 was the score which had to be kept.
TMP/TLP on Exchange â€“ This led to a good project structuring which gave good job roles to the EPs coming in. They had a variety of activities to do here rather than the single one. Checklist â€“ A checklist was given to all the TN Managers meeting their EPs containing a list of questions which helped in expectation setting and also giving the EPs everything necessary like mobile SIM etc. Chief resident â€“ The concept of chief resident was also introduced which had one person from each accommodation unit as the chief resident which would represent on the behalf of all residents there. A meeting would be kept which had the quality responsibles, the chief residents and the LCP.
Regional Initiative Finance also took a regional initiative this year by helping out a AIESEC Jaipur lending Rs. 14000.