1. Revenues: Dues and Contributions $24914, Interest Income $117, Other $1,130, Total $26,161.
2. Expenses: Educational/Scientific Programs $13,919, Management/General $5,637, Fundraising $5,209, Total $24,765.
3. Revenues minus Expenses: $1,396.
4. End of 2005, SETI League account balances equalled $8,562. End of 2004 balance was $7,166.
5. Current balance (cash on hand and owed) is approximately $9,000.
6. 2006 Budget: Projected Revenues $25,150, Program Expenses $15,000, Management/General Expenses $5,000, Fundraising Expenses $5,000, Projected Excess $150, Projected Ending Balance $8,712.
7. This report was accepted by those present.

1. EME Committee
   Report delivered by Richard Factor in the absense of chairman Dr. Allen Katz:
   Our moonbounce beacon is now functional and much more reliable. It has been running since 3/3/06 with no glitches of hardware or software. The monitoring software is still under test. The new beacon has a 2 dB stronger signal. New antennas are in the pipeline. These will add an additional 3 dB or more to the signal strength. We may add a second exciter (synthesizer and IQ modulator; can send JT-65).

1. Audits
   Heather Wood reported that the IRS audited our 2003 return, found no errors, but made a few recommendations. Our Workmens’ Compensation Insurance audit resulted in a refund of approximately $400, since we have had no employees since 15 August 2005.
2. Accountant’s report
   Delivered by the Executive Director.

1. The proposed 2006 budget is income $25,000, expenditure $25,000. Motion to adopt the new budget was passed. Motion to adopt the annual report was passed.
2. The next Annual Meeting will be held at the same venue. A date of Sunday 29 April 2007 was tentatively suggested. The meeting will be at 1300 hours EDT, to be followed immediately by the Board of Trustees meeting.
3. Via telephone, the Orville N. Greene Service Award was presented to Tom Sanders, and the Giordano Bruno Award to Marcus Leech. The Greene plaque will be mailed to Mr. Sanders. The Bruno plaque will be presented to Mr. Leech in person at the SARA conference.

• A mid-year renewal letter will be sent in May to lapsed members (Heather will sort the database to see how many per year).
• Once the new moonbounce beacon antennas are installed and tested, a notice will be sent to radio observatories worldwide.

The Annual Membership Meeting was adjourned by the Executive Director at 1340 hours EDT on 23 April 2006. The annual Board of Trustees meeting occurred immediately afterward. All members in good standing were invited to attend.

Business Transacted by Board of Trustees:

1. Quorum Call
   Trustees and Officers present: Richard Factor, Heather Wood, Marc Arnold, H. Paul Shuch
   Trustees and Officers absent: Marty Schreiber
   A quorum is present.
2. Election of Officers
   The following slate of officers was retained for a one-year term:
   President - Richard Factor
   Secretary/Treasurer - A. Heather Wood
   Executive Director Emeritus - H. Paul Shuch, serving on a volunteer basis.
3. Bylaws revision
   Bylaws language was adopted confirming the earlier elevation of the founding Executive Director to Emeritus status.
4. Personnel matters
   Board of Trustees approved a formula for cost-sharing of Executive Director Emeritus' health insurance premiums, as an administrative expense, pending availability of funds and subject to periodic review.