President Susan Offutt called the meeting to order at 12:05 p.m. Central Daylight Time.

Materials for the discussion concerning the deficit budget and possible dues increase were distributed to the board by e-mail prior to the call.

Board members agreed that the dues portion of revenue must increase. The reasoning behind this increase will be presented in Susan Offutt's column in the Exchange, in Jon Brandt's presidential address and in a handout to be distributed to all AAEA members at the registration desk in Montreal.

The role of the Foundation was discussed. Board members agreed to share information on revenue needs with the Foundation Governing Board and seek the support of the Foundation.

Harry Kaiser moved that the membership be presented with three options for annual membership dues. The levels presented would be $150, maintaining all present services; $125, with the board determining the reduction of services; and keeping the current dues level of $100 with substantive cuts in services, or returning to a more volunteer supported organization. Bill Boggess seconded the motion. Approved.

A parliamentarian will be at the meeting to assure proper process for the introduction of motions and subsequent discussion.

Meeting adjourned at 1:15 p.m.