>>Typically it's a committee in Congress that has "oversite" over some specific area. In otherwords...they watch over some area to make sure things are run "properly" and determine the amount of funding to that area and how it is spent.
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>Yes, as I understood it (really), and cited in my second example. I just thought it was a strange use of the word. As far as I know in England it only ever means "forgetfulness". My 1st example was just me attempting humour.
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>Not being funny now but is that how you spell it? If so it's even weirder than I thought. I imagine a committee of men in suits hanging over somewhere from a hot-air baloon (i.e. over the site)

No, your original spelling was right, and I believe your interpretation of "oversight" as a form of "oversee" is also correct.

Tamar