TREASURER'S REPORT
                              15 JANUARY 2008
 
All of the transactions for the Region 3 end of the year financial statements have been received except for the long term
investment account. Some of these require further explanation. Once again, RAB (now Member and Geographic Activities, MGA)
has transferred funds into the 2007 concentration bank account related to 2008 activities, primarily Sections Congress
2008. A document "SC08 Distribution to Regions" is attached to show the amounts and intended applications for the funds.
Line 3.10 refers to the MGA rebate and Line 3.33 refers to the Sections Congress allocation. Based on these receipts, I
suggest that the Region 3 Sections Congress coordinators review the proposed funding to our Sections.
 
The Proposed Budget - 2008 is also attached. This is the same document presented at our Region meeting in Birmingham. Your
comments are requested to distribute the receipts cited above for training and Sections Congress.
 
Details for the 2007 budget are also shown on the budget attachment. The total revenue from MGA was $69,660. Without these
funds, the surplus of $49,575 would become a deficit of $20,085. However, the second installment of the Region 3 assessment
does not appear on the 2007 reports. If the proposed $12k had been received, the Region would still show a 2007 deficit.
All of these facts will have a bearing on the final 2008 budget. Although we will show a 2008 deficit, we will be earning
interest on the funds received in 2007.
 
If you have questions, please contact me. Also, please provided comments on the distribution of the funds described above.
 
Charles