************************************************************** IFCSS Headquarters News Release No. 5106 February 8, 1994 ************************************************************** Independent Federation of Chinese Students and Scholars (IFCSS) 733 15th Street, N.W., Suite 440, Washington, D.C.20005 Tel. (202)347-0017 Fax: (202)347-0018 Email: ifcss@wam.umd.edu Special Report from IFCSS Working Meeting (1): CPA Report on IFCSS Financial Situation ============================================== In the past months, a considerable amount of suspicion has been generated over IFCSS's financial situation, which naturally became an overriding concern of those who attended the Working Meeting (February 5-6). To clarify the situation, the IFCSS HQ asked Mr. Jeff W.S. Lin, a certified public accountant, to compile a set of comprehensive financial statements to be reported to the IFCSS Council as well as to other members of the IFCSS Working Meeting. On the first morning of the Working Meeting, Mr. Jeff W.S. Lin provided the delegates with a set of financial statements covering the period from July 1, 1992 to June 30, 1993 (IFCSS 4th term). The documents included the balance sheet of IFCSS Foundation, Inc., Statements of Revenue & Expenses (combined, general fund, council, June 4th Fund, Insurance Program, CSPA, CSS-Protection, 4th Congress, 5th Congress, Supervisory Committee, Working Committee, Project, Fund Raising, NED, and Round-table Meeting), Statement of Changes in Fund Balance, Statement of Cash Flows (Increase [Decrease] in Cash or Cash Equivalents) along with CPA notes. Mr. Jeff W.S. Lin presented and explained these documents to the delegates, and answered their questions. One of the major concerns at the meeting was whether any IFCSS funds had disappeared or were unaccounted for. When asked this question, Mr. Jeff W.S. Lin answered that for the period ending June 30, 1993, he had not found any indication of such disappearance. Mr. Jeff W.S. Lin added that he had almost completed compilation of the financial statements for the current term (IFCSS 5th term), a draft of which was also presented to the Working Meeting, and that he had not found any traces of disappearing funds, either. Mr. Jeff W.S. Lin expressed a fairly good opinion of IFCSS financial system and of the work by IFCSS treasurer Ms. Jiang Zuihong, but also identified areas for improvement in IFCSS financial system. The delegates were satisfied with Mr. Jeff W.S. Lin's report and expressed appreciation for his working overtime to prepare the financial statements for the meeting. Later on, the IFCSS Council passed a resolution approving Mr. Jeff W.S. Lin's report. To be responsible to the CSS community, the IFCSS HQ will make available on the E-mail network the aforementioned financial statements and the complete text of the question-and-answer session conducted by Mr. Jeff W.S. Lin. We will notify you how to access this information when it is ready. The IFCSS HQ appreciates all the concerns over the organization's financial situation and sincerely hopes that the CSS Community will continue to monitor its finances. We will be pleased to answer any questions in this regard. ********************************************************************* * IFCSS Headquarters Office * *-------------------------------------------------------------------* * President: Lin Changsheng Vice President: Shi Heping * * Exec. Director: Liu Xiaozhu Chief of Staff: Huang Songyun * *-------------------------------------------------------------------* * PBS-L is IFCSS's news distribution list for individuals. To sign * * on or off from IFCSS E-mail mailing list, please send email to : * * listserv@ifcss.org * * leave the subject line open and put in the mail body: * * (For signing on) sub PBS-L last_name first_name * * (For signing off) unsub PBS-L last_name first_name * * * * For IFCSS Service Program: ftp: ifcss.org:/services * * * * For more information about IFCSS, write to ifcss-info@ifcss.org * ********************************************************************* M E M O R A N D U M Date: February 8, 1994 >From: The IFCSS HQ To: The IFCSS Council CC: The CSS Community Subject: IFCSS Newsletter Bidding In an effort to complete the bidding process of the IFCSS Newsletter, the HQ asks that all interested individuals and groups submit their proposals as soon as possible to the Council and HQ. In addition to the proposal itself, please include the following information for evaluation by the council and the HQ: 1. Editorial guidelines and principles 2. Newsletter format (number of pages and words, content) 3. Qualifications of the Chief Editor (academic background, experience, writing skills and publications) 4. Ability to raise funds (where and how) 5. Your experience and working relationship with local student organizations and IFCSS activists. Note: We strongly suggest that proposals already submitted to the HQ be revised to reflect the above concerns. Thank you.