Viewing page 25 of 175

This transcription has been completed. Contact us with corrections.

-23-

[[underlined]]Policies and Procedures Governing the Use of Appropriated Funds; Contracts and Grants; and Trust Funds[[/underlined]]

A preliminary draft of a statement titled "Smithsonian Institution Policies and Procedures Governing the Use of Appropriated Funds; Contracts and Grants; and Trust Funds" (attached to the Hughes Report as Appendix 4) was recommended by the Adult and Review Committee to remain as a draft example with that report.  At the September 27, 1977, meeting of the Board of Regents, the Executive Committee reported that it differed in its view concerning the advisability of including such a preliminary statement which might be viewed as a binding document when, in effect, the Regents had not yet had an opportunity to review the preliminary draft.  Later in the meeting, in summarizing his report, Mr. Hughes mentioned his Internal Management Recommendation Number 2: that "the Institution should develop and set forth in concise written form general policies for the use of its trust funds".  Mr. Hughes went on to say that a framework of policies for the use of trust funds would assure the Congress that there is tight management of its trust funds, consideration of priorities, and choice among opportunities.  No action was taken by the Board of Regents on the draft statement.

After the September 27 meeting, the preliminary draft continued to receive staff review.  Further useful changes to it were made as a result of Mr. Webb's review.  Subsequently, in accordance with the plan approved at the Regents Executive Committee on September 22, the revised draft statement was sent for review and comment to the staff