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SMITHSONIAN INSTITUTION
The Regents Newsletter
March 1989

[[underlined]] Regents' Matters [[/underlined]]

The next meeting of the Board of Regents is scheduled to take place on Monday morning, May 8, beginning at 9 o'clock in the Regents' Room. The full array of committee meetings will be held in the interim. The Executive Committee will hold its next regularly scheduled meeting on April 27 to consider the agenda proposed for the Regents' meeting. The Investment Policy Committee will be convening in Washington on April 11 to confer with the Institution's three investment managers, to consider a rate of payout from endowment income during fiscal year 1990 and to consider a possible additional manager to take the place of Nova Advisors, who resigned the Smithsonian account last fall. The Nominating Committee will hold its first formal meeting during the afternoon of May 7. In session on March 7, the Audit and Review Committee discussed the annual reports of the external auditors as well as that of the Office of Audits and Investigations.

Ballots for the appointment of Nominating Committee members were mailed in late February. As this Newsletter is being locked up, a majority of the Regents have indicated their approval for the Chancellor's appointment of the following members of the Committee:

William G. Bowen, Chairman
Samuel C. Johnson
Anne L. Armstrong

The Executive Committee is soon to consider forwarding to the Regents for approval a revised draft agreement between the Heye Foundation and the Smithsonian, together with supporting documentation, for the establishment of a National Museum of the American Indian. With the Regents' approval, enabling legislation could be sought in time for funding in the following fiscal year.

[[underlined]] Congressional Hearings [[/underlined]]

A series of hearings on matters relating to the Institution has been held recently. Other hearings have been set for dates in the near future.

Senator Robert Byrd (D.-W.Va.) held a hearing of the Subcommittee on Interior of the Senate Committee on Appropriations on February 27. Secretary Adams and other Smithsonian witnesses appeared at the hearing to defend the Institution's fiscal year 1990 budget request.

On March 9 the House Committee on Interior and Insular Affairs took testimony from Secretary Adams, as well as from representatives of the Museum of the American Indian, Heye Foundation, and the City and State of New York, on the status of the agreement between the Smithsonian and the Museum of the American Indian. The chairman, Ben Nighthorse Campbell (D.-Colo.), supported establishment of the proposed National Museum of the American Indian within the