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SMITHSONIAN INSTITUTION
PROCEEDINGS OF THE MEETING OF THE BOARD OF REGENTS
September 17, 1979

[[underlined]]SUMMARY OF PROCEEDINGS[[/underlined]]

[[underlined]]Report of the Executive Committee[[/underlined]]

Report of the meeting of the Executive Committee on August 20, 1979:  agenda items were discussed and recommendations were incorporated into the agenda papers.  All Regents had been invited to this meeting to consider the Institution's fiscal year 1981 budget submission to the Office of Management and Budget.

[[underlined]]Bylaws of the Board of Regents[[/underlined]]

The revised draft of the Regents' bylaws were adopted by the Board of Regents with the following resolution:

WHEREAS the Act of August 10, 1846, as amended, provides that the business of the Smithsonian Institution be conducted by a Board of Regents; and

WHEREAS the Board of Regents has determined that the Institution should be administered in accordance with bylaws adopted by the Board of Regents,

THEREFORE BE IT RESOLVED that the Board of Regents hereby adopts the following Bylaws and authorizes their printing and distribution.

[[underlined]]Appointment of Regents Committees[[/underlined]]

The Regents were reminded of the appointment of Messrs. Rush, Mahon, and Humelsine to the Regents' Personnel Committee, and the appointment of Senator Jackson, Senator Morgan, and Messrs. Mineta, Acheson, Rush and Mahon to the Regents' Audit and Review Committee.  Plans for the committee's activities were discussed.

[[underlined]]Financial Report[[/underlined]]

[[underlined]]FY 1979:[[/underlined]]  Since the May meeting, Congress passed a Supplemental Appropriation of $1.9 million (compared to $2,966,000 requested) which included $1.7 million for legislated pay increases and $200,000 for the Museum of African Art.  Projected net gain for unrestricted nonappropriated trust funds was estimated at $1.8 million, substantially higher than the May estimate.  Based on these anticipated results, the Board approved (1) a reserve of $1,250,000 for Quadrangle engineering, planning, and design, to be used in concert with a federal appropriation of like amount to be sough in FY 1981, and (2) additional transfer of up to $500,000 to Unrestricted Endowment, above the $2.0 million budgeted.  The Board also approved the retention of $325,000 in a CBCES general land acquisition fund if not needed for the purchase of the Murray property.