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[[underlined]] Five-Year Prospectus, Fiscal Years 1987-1991 [[/underlined]]

Mr. Adams noted that the delayed receipt of the fiscal year 1986 appropriation from Congress and the fiscal year 1987 budget allowances from the Office of Management and Budget have prevented an update of the draft [[underlined]] Five-Year Prospectus, Fiscal Years 1987-1991 [[/underlined]] that was presented to the Board of Regents at its September 1985 meeting.  Under this circumstance, and since the recently approved Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99-177) may have an effect on the Institution for fiscal years 1986 and 1987, he recommended that the Regents allow Smithsonian management to continue internal reviews and the development of contingency plans as may be necessary and postpone production of the [[underlined]] Prospectus [[/underlined]].  He added that a revised document is expected to be ready for review in March 1986.  Accordingly, with the understanding that the Executive Committee of the Board of Regents will review and approve the final draft of the [[underlined]] Prospectus [[/underlined]] for submission to Congress, the following motion was suggested and adopted:

VOTED that, subject to final consideration by the Executive Committee, the Board of Regents approves the [[underlined]] Five-Year Prospectus, Fiscal Years 1987-1991 [[/underlined]], anticipating that annual revisions will similarly be presented for its approval.

[[underlined]] Agreement with Saudi Arabia [[/underlined]]

Mr. Adams reminded the Regents that at each of their meetings over the course of 1985 he had discussed with the Board the status of the Institution's agreement with the Kingdom of Saudi Arabia.