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SMITHSONIAN INSTITUTION
PROCEEDINGS OF THE BOARD OF REGENTS
September 15, 1986

[[underlined]] SUMMARY OF PROCEEDINGS [[/underlined]]

[[underlined]] Report of the Executive Committee [[/underlined]]

The Executive Committee of the Board of Regents met on September 3 to discuss and approve the proposed agenda for the September 15 meeting of the Board.  The Committee was most appreciative of the work of the Regents' [[underlined]] ad hoc [[/underlined]] committee on admissions under the leadership of Mrs. Clark. In light of the obvious significance for a wide variety of Smithsonian activities, the Committee took the position that planning for a comprehensive visitor survey should have the full backing of the Regents.  The Committee also expressed its pleasure with the selection of Miller, Anderson and Sherrerd as a new investment manager and with the indication that the highly distinguished Mrs. Jane Mack Gould is willing to serve as a member of the Investment Policy Committee.  In his oral presentation to the Committee, Mr. Adams discussed a variety of matters which he later raised in detail at the meeting of the Board (see below, Report of the Secretary).

After its discussion of the status of fiscal year 1986 Federal and trust funds, the status of the Federal appropriations and proposed trust fund budget for fiscal year 1987, a proposed request to OMB for fiscal year 1988, and the outlook for trust funds, all as outlined in the Financial Report, the Committee reiterated the Regents' mandate to replenish the Institution's working capital fund and called for a thorough briefing at the Board meeting on potential funding problems in the Quadrangle construction and operations accounts.  The Committee also expressed its appreciation for the care which has been consistently exercised in drawing appropriate distinctions between trust and Federal resources in the budget process and agreed that the proposed land transactions would be in the best interest of the Smithsonian.

Noting that a selection of one or more food service concessionaires may soon be made, the Committee emphasized the importance of reaching a conclusion on the merits of the proposals and the interests of the Institution, not on the basis of pressures exerted by interested parties.  The Committee reaffirmed the position of the Board that subsequent actions rest with the management and staff of the Institution based on their assessment of what will be best for the Smithsonian.

The Committee completed two actions on behalf of the Board, authorizing the Secretary to negotiate an agreement for the acquisition of the Folkways Records Collection and Archives and the National Museum of American Art's deaccession of the Gothic Room donated by Mrs. Alexander Hamilton Rice.

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

The Audit and Review Committee met on June 3, 1986.  At the outset Mr. Adams announced that for reasons of security public parking will