TREASURER'S REPORT
                            23 March 2003

A summary of the 2002 Region 3 finances follows: Receipts, $124,972;
Disbursements, $185,189; Long-Term Investment, -$14,019; Loans
receivable increased from $3,000 to $15,000. As a result, the total
assets decreased by about $62,000. Major expenses included: travel,
$45k; Sections Congress, $22k; Region 3 allocation for IEEE
infrastructure costs, $21k; meeting expenses, $17k and student
activities, $11k. IEEE-USA provided funds of about $21k for
professional activities, but total expenses were about $27k, i.e.,
Region 3 supplemented professional activities by about $6k.

The approved 2003 budget shows a deficit of $53k.  Through 28 February
2003, the long-term investment account has declined about $3.4k for
the year. The rebate for the year will remain at $66.2k. If you have
questions or require additional information, please contact me.

Charles E. Hickman