[en] Brief statements on the progress of the design and construction of the HSX experiment are reported. Topics covered include the modular and auxiliary coil systems, the coil support structure, vacuum vessel, the ECH system, the magnet power supply and site. The proposed budget for Year 2 (August 1, 1994 through July 31, 1995) is presented. The effects of a flat funding profile (based on Year 2 budget level of $1137K) on out-years and the HSX project schedule are discussed. The stretching out of the program to accommodate the reduced funding profile should result in only a slight delay in HSX operations