Past Director's Report To: Region 3 EXCOM and Region 3 Committee Fr: Dale Caston, Past Director During the last Operational Units Meetings in Albuquerque and also at Region 2 Committee meeting at State College, PA, many good comments were heard concerning Region 3's work. Programs like the Industry Relations Project, having success with E-Conferences, Treasurers Training package on the Web and doing the trial for Concentration Banking were some of the ones mentioned. Region 3 is viewed as a pace-setter and one that attempts new initiatives and is willing to share information with other regions. As Director Riddle wrote in his report, the Financial situation with IEEE is at a defining moment. To make up the 2000 year end deficits in Corporate and EAB, the Operational Units with reserves had to contribute $16.4 M of their reserves. The vast majority of this amount came from TAB, Societies and Technical Councils. As IEEE Treasurer, I am a member of President-Elect Ray Findlay's Overhead Adminstration Recovery Process Committee to look at ways to re-direct the revenue streams and at possible new revenues which could include a dues increase. (Note: there hasn't been a dues increase since 1995) The IEEE Finance Committee along with other committees will be working to make recommendations that will keep IEEE reserves at a proper level for good business practices. Dale