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postpone consideration of site selection until the January 1990 meeting of the Board when more information can be presented.  It was suggested that the governors of each state, as well as the Washington Metropolitan Airport Authority, should be notified of the Regent's intention to select a preferred site in January and the governors should be invited to detail the extent to which their states are prepared to support construction; and the staff ought to develop a more complete analysis of the impact of operating and construction costs on Smithsonian budgeting.  It was also noted that a commitment toward any site could be made only with the approval of the Congress.  Accordingly, the following motion was suggested and approved:

VOTED that the Board of Regents requests the Secretary to advise the relevant jurisdictions, including the Washington Metropolitan Airport Authority, that the Board intents to decide the question of site selection for the extension the the National Air and Space Museum at its January 1990 meeting, with the understanding that final commitments cannot be made without authorization from the Congress of the United States. 

[[underlined]] FINANCIAL REPORT [[/underlined]]

As a result of the third quarter review, the fiscal year 1989 addition to Trust fund balance is projected to drop by $193,000 to $907,000, nearly $600,000 below budget because of certain adjustments, most notably a decrease in Mail Order revenues and transfers to the Secretary's Program Contingency.  Since May the Secretary's Program Contingency has funded legal fees arising from an International research endeavor and the completion of a research lab for the director of the National Air and Space Museum. The current balance in the Secretary's Program Contingency is $244,000.  It was

VOTED the the Board of Regents approves the proposed revisions to the budget of the nonappropriated funds for fiscal year 1989 and authorizes expenditures by the Secretary in accordance therewith; any material changes in program plans incorporated in the revised budget, or any changes of more than $250,000 in any general unrestricted Trust fund program or administrative expenditure, shall be made only with the approval of the Board of Regents or its Executive Committee.

Both bills for fiscal year 1990 appropriations passed their respective chambers and the Conference Committee is expected to resolve differences after Labor Day.  The following chart summarizes Congressional action to date.