Article I, Section 1.3 of the IMS By-Laws states that
The Treasurer shall receive and disburse all funds of the IMS, shall keep
proper accounts of all financial transactions, shall make investments as authorized by the
Council, and shall make an annual financial report to the Council. This financial report
shall be audited by a Certified Public Accountant and presented to the Council within
three months of the close of the fiscal year being reported upon.
The Treasurer shall be the agent for the Council in fiscal contracts on
behalf of the Institute. The Treasurer in collaboration with the Managing Editor(s) shall
negotiate the costs of publication of the official journals of the Institute.
Article VI, Section 3 requires that
Each year approximately 90 days before the beginning of the Annual Meeting
for the year, but in no case earlier than the first day of March or later than the first
day of July, it shall be the duty of the Treasurer to notify by mail anyone whose dues are
in arrears.
The Treasurer also supervises the activities and performance of
the IMS Executive Director and Business Office Staff which duties
include:
1. Maintain membership and subscription records.
2. Invoice membership dues and subscriptions to IMS journals annually;
invoice orders for other publications, advertising, page charges, and reprint permissions
as necessary.
3. Make collection reports on unpaid membership dues, journal
subscriptions, and other unpaid invoices.
4. Receive all payments, prepare cash reports, and make bank deposits.
5. As a service to IMS members, collect and forward subscription payments
from IMS members to journals published outside North America as authorized by the Council;
e.g., Biometrika and Scandinavian Journal of Statistics.
6. Invest the Institute's surplus funds in interest-earning accounts and
certificates of deposit.
7. Pay all bills incurred by the Institute.
8. Prepare quarterly IRS tax returns.
9. Maintain accurate financial records. Prepare financial records for
audit. Consult with accountants on all financial matters. Examine office procedures and
financial record keeping systems for efficiency and accuracy.
10. Prepare an annual financial report for the Council. Maintain and
report timely information on membership and subscription data to the Council.
11. Participate in all negotiations of fiscal contracts to which IMS is a
party; e.g., composition and printing contracts, reprint permission agreements, USPS
second-class mailing permits, microform contracts.
12. Determine and monitor press runs for all IMS journals.
13. Prepare and send mailing lists for each IMS journal to the press.
14. Mail current-year journals from the IMS Business Office after initial
mailing from the press.
15. Investigate and respond to member and subscriber claims for missing
journal issues and other publications.
16. Maintain back-issue inventory of all Institute publications.
17. Prepare, publish and distribute an IMS membership directory.
18. Perform additional mailings to members and subscribers. Prepare
membership mailing lists on behalf of Program and Executive Secretary for news
announcements, regular and special meeting programs, and election ballots.
19. Send appropriate information on members and membership to the Bulletin
for publication.
20. Prepare and distribute membership and subscription publicity
materials.
21. Represent the Institute in the financial aspects of joint ventures
with other organizations, such as the Current Index to Statistics and the Journal of
Computational and Graphical Statistics.
22. Manage the production of the Lecture Notes/Monograph Series and the
NSF/CBMS Series.
23. Monitor the sale of the Institute's mailing lists to interested
parties.
24. Such additional tasks as are required to conduct the operations and
financial affairs of the Institute.
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