From hickmanc@bellsouth.net Wed Jan 26 06:15:41 2000 Date: Mon, 24 Jan 2000 20:58:30 -0600 From: Charles E. Hickman To: d.green@ieee.org Subject: Treasurer's Report Treasurer's Report Charles E. Hickman The 1999 financial report for Region 3 illustrates a positive year in all respects; income exceeded the budget, expenditures were lower than the budget and the long-term investment fund increased significantly ($15,142 through 30 November). Total assets were $198,844 on 31 December 1998 and $238,600 on 31 December 1999. Specific data include a total income of $187,788 compared to a budget of $138,802. However, the total income includes a RAB deposit of $30,000 on 31 December 1999 to support the National Scout Jamboree and the value increase for the long-term investment fund. The following table provides a fund analysis for 1999. ACTIVITIES IN 1999 Total Checking Funds on Hand on 1 January 1999 $ 92,554.83 Plus 1999 Receipts $ 172,646.40 Less 1999 Disbursements $ 148,032.47 ------------------- Total Checking Funds on Hand on 31 December 1999 $ 117,168.76 FUND ALLOCATIONS Conference Fund $ 50,000.00 National Scout Jamboree $ 30,000.00 Sections Congress'99 $20,000.00 Less 1999 Expenditures $10,327.66 Section Congress Funds on Hand $ 9,672.34 General Fund $ 27,496.42 ------------------ Total Checking Funds on Hand on 31 December 1999 $117,168.76 LOCATION OF FUNDS IEEE Concentration Account $117,168.76 IEEE Long-Term Investment Account $121,430.78 ----------------- TotalAssets $238,599.54 Although these data are significant, a major highlight of the year was the leveraging of regional funds with funds from other IEEE entities to enhance the services offered to our members. For example, the Corporate Relations project obtained funds from RAB($5,178), Power Engineering Society($5,000) and the Atlanta Section($5,000). RAB provided $14,319 in support of Sections Congress and $3,100 for the ETI Database. IEEE-USA contributed $14,283 for professional activities. Conference revenues of $22,687 also added to income. The dedication of our members not only in seeking these extra dollars but also in pursuing the success of outstanding projects ensures that Region 3 will continue to fulfill its mission. Other items in this Newsletter will describe the success of Sections Congress held in Minneapolis. From the financial perspective, Region 3 expenditures were only $12,215(several accounts charged) of the total expenditures of $26,534; another leveraging story. Also, several Region 3 members who attended were funded by other IEEE entities. The proposed 2000 budget was presented to the Executive Committee at the December meeting in Nashville. The budget includes income of $111,784 and expenditures of $143,975. Although a deficit budget is proposed, the programs envisioned are considered important to our members.