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VOTED that the Board of Regents requests the Congressional Regents to introduce and support legislation to appoint Samuel C. Johnson a citizen Regent of the Smithsonian Institution for the statutory term of six years. 

Mr. Johnson's biographical sketch follows this report:

Mr. Acheson reviewed the minutes of the last meeting of the Audit and Review Committee, highlighting particularly the effective improvements made in the financial interests reporting procedures. He also noted that the Audit and Review Committee agreed that no change should be made in the independent auditors at this time (see below Committee minutes of May 19, 1983, p. 5), a decision in which the Executive Committee concurred.

Mr. Hohenlohe spoke about the status of consolidated budgets for fiscal years 1983, 1984, and 1985. After discussion the Committee agreed with the recommendations presented in the Financial Report. At Mr. Burden's request, Mr. Hohenlohe also discussed the performance of Smithsonian endowment funds, observing that the market value of endowment funds has increased more than $50 million in twelve months and over five years has had an annualized compounded return of more than 20% per year. He reported that no new banking relationships have been established, and that five foreign field accounts were terminated at the end of research projects. Mr. Jameson introduced a sample of the draft of the Five-Year Prospectus, FY 1985-1989, which document stresses the operations requirements of the Museum Support Center and the Quadrangle as well as the needs for the development and repair of Smithsonian facilities. He added that the Prospectus has a new format and includes illustrations to enhance its readability. 

After discussing the remaining items on the agenda, the Committee discussed the status of the Institution's tax liability for the years 1976-1982. The liability has recently been estimated to be $25,000 in total, and the Committee agreed that such a sum should be paid to the Internal Revenue