TREASURER'S REPORT
                          12 JANUARY 2006
 
Region 3 was proud to host Sections Congress 2005 held in Tampa, Florida. Primary
delegates from 34 Sections participated, and several Region 3 members were selected as
speakers. The Region also provided significant financial support. The Sections
contributed over 40k, and the Region, including travel support and a sponsorship,
provided over 43k. Based on a wide variety of reports, the event was quite successful.

Another positive event within the Region was the Emeritbadges project at the National
Scout Jamboree held in Virginia. Funding from the IEEE Foundation, the Dominion
Foundation and the IEEE Regional Activities Board covered essentially all of the
expenses. Since the Jamboree received widespread positive coverage, Region 3 was the
recipient of excellent public relations.

For the program areas of the budget, the disbursements exceeded the receipts by about
$34k; the budget deficit was predicted to be $43.5k. The overall budget shortfall was
about $50k compared to a predicted value of $57.1k. Because of previous year deposits
and higher interest rates, the interest income for the concentration account exceeded
the budget by about $3.7k. Similarly, the interest income for the conference reserve
account exceeded the budget by about $1.9k. The long term investment account through 30
November 2005 provided $2.3k in dividends and interest and $6.1k in unrealized gains.

Most of the program areas of the budget were reasonably close to budget, with the major
deviation in the Sections Congress support. A proposed budget will be submitted shortly
for your consideration. Your feedback will be appreciated. If you have questions,
please contact me.

Charles E. Hickman
Treasurer, Region 3