Young Engineers portfolio and budgetary issues are endorsed by BOG

During its meeting last month, the ASME Board of Governors endorsed the project team/plan for the Young Engineers Initiative. The project will coordinate the various efforts needed to address the Balanced Scorecard objective to serve young engineers.

The Balanced Scorecard was a tool used by the BOG in addressing elements of ASME's Continuity and Change Initiative.

The board also approved an October (fiscal year 2006) dues increase of $3, for a base dues amount of $121. Society Policy P-14.15 will be changed to reflect this amount.

During the meeting, the BOG took three actions regarding the fiscal year 2005 budget. It accepted the Prioritized Program List that the Summit Team developed with the input of members of the new Sectors. It accepted the initial budget planning financial target of $5.5 million in expense reductions.

Finally, it accepted the program portfolio as a guide for the sector leaders to work with the Committee on Finance and Investment in preparing the budget.

The board also approved the establishment of a Sector Management Committee to assist the board with program and strategic planning.

The committee will be chaired by the president-elect and will have a membership consisting of the deputy executive director, the sector senior vice presidents and their respective staff counterparts, the chair of the Committee on Finance and Investment and their respective staff counterpart, as well as others appointed by the president.

The BOG also approved the concept of allowing a maximum of one senior staff member as a voting member on the Board of Directors of each of the five ASME Sectors.

 

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