To:      R3 EXCOM 2002
Subject: Region 3 Budget

Attached (see the finance committee information item) is the mid-year
status of the 2002 Region 3 budget.  Two major expenses will occur
later in the year. Support for Sections Congress includes the Region 3
allocation and the RAB allocation. At the June 2002 IEEE Board of
Directors meeting, the decision was made to distribute a portion of
IEEE infrastructure costs to each Region.

The RAB allocation to cover IEEE infrastructure costs was recently
deducted from our Region 3 Concentration Account.  The amount was
$21,322.73. An updated budget is attached for your information. The
following balances are shown through August 31:

                      Concentration Account,      $82,757.57
                      Conference Reserve Account, $88,079.83

Through July 31, the Long Term Investment Account is $109,072.14.

If you have questions, please contact me.

Charles Hickman
Region 3 Treasurer