The midyear meeting of the Council of the Paleontological Society (PS) was called to order by President David J. Bottjer at 8:05 a.m. on 7 April 2006, in the Cooper Room of the Department of Paleobiology at the Smithsonian Institution. Council members William I. Ausich, Derek E. G. Briggs, Mark E. Patzkowsky, Roger D. K. Thomas, Anne L. Raymond, Jennifer C. McElwain, Ann F. “Nancy” Budd, Robyn J. Burnham, Susan H. Butts, Mark A. Wilson, Michael A. Gibson, Jocelyn A. Sessa, Lisa Amati, Forrest J. Gahn, Elizabeth A. Heise, Lisa E. Park and Colin D. Sumrall were present. President Bottjer welcomed the members of the Council and presented his report. Since its inception, the Society had been organized to hold professional meetings, publish results of paleontological research, and engage in a limited range of ancillary activities. Now, with the advent of electronic publishing, a business model based almost entirely on delivery of scholarly journals in hard copy has a limited future. We are in a period of transition from a mixed model of paper and electronic publication to one that will certainly be largely electronic. PS needs to develop new ways to attract and serve its members, to ensure that paleontology will flourish, and to maintain the base of support necessary to publish its journals in any format. Consequently, two major items were on the agenda for this meeting: development of an entirely new membership/subscription model and launching of a fundraising campaign to provide resources in support of the Society's future initiatives. Discussion with H. Richard Lane, program director at NSF, had prompted President Bottjer to write a proposal requesting $25,000 to support travel by U.S. students to the 2006 International Palaeontological Congress, in Beijing. The grant was awarded, a committee was convened to review proposals, and funds were promised …