TREASURER'S REPORT
                              July 11, 2003
                                   
A mid-year review of the Region 3 budget for 2003 was recently
distributed. On the revenue side, the Long-Term Investment fund has
posted a gain of $7000 through May 31, but the interest income is
below projections through June 30. Loans and advances have been repaid
by RadarCon and SoutheastCon 2003.  It is anticipated that these
conferences will provide income to the Region before the end of the
year. On the expenses side, travel and student activities
reimbursements account for about 70% of the total
expenditures. Professional activities funds of about $10k were used to
support the PACE Workshop in Jamaica. Also, over 20 Region 3 members
were supported by IEEE-USA funds to attend a PACE Conference in
Seattle, Washington. Please review the actual year-to-year expenses
compared to the budget to ensure that our members are being provided
appropriate services.

At the recent Organizational Units meeting in Nashville, the IEEE
Board of Directors approved a $2 assessment for Region 3. A formula
recommended by the Regional Activities Board to calculate the regional
rebates was also approved. This formula will increase the Region 3
rebate by $4570 in 2004. These changes will impact our budget
beginning in 2004.

If you have questions related to our budget, please contact me.

Charles E. Hickman
Treasurer, Region 3