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improved banking system (see September 20, 1982, p. 3) most future banking needs will be met through sub-accounts of existing bank accounts, thus minimizing the frequency of establishing or terminating banking relationships.

The Committee expressed its confidence in the [[underlined]] Five-Year Prospectus [[/underlined]] and suggested that Mr. Jameson utilize charts in making his presentation on the [[underlined]] Prospectus [[/underlined]] at the Regent's meeting.

The Secretary reviewed progress in Quadrangle planning, site clearance, and contracting.  It was noted that signs continue to be favorable for completing the project within budget.  In view of the significance of the project, the Committee felt it would be prudent for the Regents to authorize the Secretary to sign a contract only within the present construction budget.  The Secretary also discussed the fund-raising efforts past and future, including regional appearances, foreign travel, an impending direct-mail appeal to the Associates, and the end-of-the-year contributions received for the Quadrangle and other Smithsonian purposes.  The Committee suggested the Secretary present a report of recent patterns of giving toward the full range of Smithsonian projects at the Regent's meeting.

With respect to the report to the Regents on Space Needs and Plans, the Committee discussed the Institution's long-held plans for acquiring the International Trade Commission Building adjacent to the National Museum of American Art and Portrait Gallery, should it be vacated.  The Committee also discussed the continuing need to provide parking for visitors to the Mall museums and asked the Secretary to bring up-to-date the most recent study on underground Mall parking (see September 22, 1980 Minutes, pp. 104-105), assess interest in the project among the Park Service and the Congress, and report findings to the Regents.