TREASURER'S REPORT
                            12 MARCH 2004

This report includes Region 3 financial information for the year 2003
and a budget update for 2004 (see attached spreadsheet: Budget -
2004). To serve the needs of our members, a number of program areas
were defined that resulted in a negative budget forecast for
2003. Travel expenses of about $65k were related primarily to two
Region meetings, one in Jamaica and one in Atlanta. These meetings
provided opportunities for Section leaders to become more involved in
guiding Region programs. The student conference in Jamaica brought
together students from over 30 schools to participate in a wide range
of activities. The Region provided $19.2k for student activities
throughout the year. Another major area of participation for our
members is professional development, and Region 3 supplemented
IEEE-USA funds by about $3.7k. For the year, program disbursements
exceeded program revenues by $36.5k.

The 2003 long term investment (LTI) returns exceeded the forecast
significantly; $25,874 compared to $3,000. The LTI value at the end of
2003 was $131,574. Total assets for the Region were $233,394.

A balanced 2004 budget has been prepared. The disbursements for 2004
are essentially the same as for 2003. However, an increase in the
rebate from IEEE Headquarters and funds from the Region 3 assessment
are expected to result in an increase in program receipts. As a
result, the Region can continue to fund ongoing and new programs for
the members. One example of a new initiative is the Leadership by
Developing Others (LDO) program funded at $5,500. This program, along
with many others, will ensure that Region 3 remains at the forefront
in IEEE.

Submitted by,

Charles E. Hickman
Region 3 Treasurer