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requested to accept both the designation and the obligations thereof.  The Bylaws of the Board of Regents should be amended at the September 1980 meeting to effect this action.  (See below, "Designation of Regents Emeritus.") 

The meeting of the Executive Committee adjourned at 3:15 p.m.

[[underlined]] Report of the Audit and Review Committee [[/underlined]]

Senator Morgan, Vice Chairman of the Committee, referring to the following minutes of the meeting of February 28, 1980 (which had been distributed in advance), stated that the Committee was satisfied with the progress of the collections inventory, a very important and necessary goal of the Institution.  The Committee also had an extensive discussion with Coopers and Lybrand concerning their independent audit for the fiscal year 1979.  In reviewing the process of budgeting the unrestricted trust funds, the Committee generally approved the procedures that have been implemented.

Speaking from the minutes of the meeting of May 3, which appear below, Senator Morgan praised Mr. Will Douglas, Director of the Equal Opportunity Office, for the fine presentation he made to the Committee and the grand work he has done for the Smithsonian.  Senator Morgan and Senator Jackson, Chairman of the Committee, summarized the discussion held at Belmont on the matter of equal opportunity in the Institution's employment.  The Committee's report was accepted by the Board, and it was

VOTED, that the Board of Regents lends its full support to the Institution's intensified efforts and encourages and directs the management of the Institution to take all possible steps to ensure equal opportunity within the Smithsonian, and requests that regular, periodic reports be made to the Board of Regents as to progress made in the area of equal opportunity within the Smithsonian Institution.