IFIP Procedure for TC Funds {Council 2003 has formulated the following new procedure for TC Funds provisions.} TC funds provisions are defined for each TC at the end of the fiscal year as the sum of the following components: a) 20% of royalities accounted, b) 70% of proceeds less expenses accounted c) Less 100% of Funded expenses and Funded grants accounted. In respect of b) both positive and negative values would apply. A TC must use at least 15% of its TC Fund from year n-1 for one of the following (or similar activities) during year n. - Tutorial in developing countries. - Grant for speakers at conferences in developing countries. - Grant for speakers from developing countries. - Student grants. - Best paper award grants. Unused fund will be transferred to IFIP general fund at the end of fiscal year. Should the total net for a TC become negative, the TC Fund balance would be correspondingly reduced.