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SMITHSONIAN INSTITUTION

SUMMARY PROCEEDINGS OF THE BOARD OF REGENTS

January 29, 1990

[[Underlined]] REPORT OF THE EXECUTIVE COMMITTEE [[/Underlined]]

The Executive Committee held a telephone conference on December 20 in which a unanimous recommendation emerged regarding the siting of the Extension of the National Air and Space Museum (for which see below in these summary proceedings.)  The Committee also met on January 8, 1990, to review the agenda proposed for the January 16, 1990 letter disclosing interests in land near Dulles Airport and the establishment of light rail service linking Dulles with downtown Washington. Mr. Adams raised for discussion a number of items he brought up again at the meeting of the Board (see the Secretary's Report, below).

Turning to the Financial report, Miss Leven explained how the Institution was able to reach the goal of $13.3 million (or 5% of the total trust fund operations) in its working capital by the end of the fiscal year 1989.  Nonetheless, certain Trust revenue estimates made in 1988 for the fiscal year 1990 appear to be unrealistic when viewed against actual 1989 performance.  It was noted that, while the 1990 budget may still lack an adequate degree of firmness, the Secretary is asking his managers to review current budgets, trust fund and Federal alike, for opportunities to reduce spending by 3% and by 7%.  It was the Executive Committee's view that the Secretary is prudent in asking his staff to operate with a balanced budget. Mr. Jameson added that, in the light of the Gramm-Rudman-Hollings cuts, water and sewer payments, and the absorption of pay increases, it will not be possible to afford summer evening visiting hours with this year's Federal appropriations.  The Development Office will be soliciting support for this popular program from corporate sponsors.

The Executive Committee considered favorably the preliminary proposal for enhanced development activities with funding from endowment funds or those funds previously earmarked for additions to endowments.  The Committee encouraged the Secretary to talk with selected members of the Board and others who might lend special expertise to the proposed [[underlined]] ad hoc [[/underlined]] Committee on Planning and Development.  The Committee and suggested that a similar session should be held at the meeting of the Board.

[[underlined]] PROPOSED AMENDMENT TO THE BYLAWS OF THE BOARD OF REGENTS [[/underlined]]

It was proposed that the Bylaws of the Board of regents be amended to make clearer the authority of the Secretary to execute certain official documents.  It was emphasized that this is in no way intended to augment or diminish the existing authority of the Secretary, or affect the Institution's present internal requirements and procedures for approval of major projects, expenditures, or sales by the Board of Regents.  In accordance with Section 1.02 of the Bylaws, it was suggested that these proposed amendments be brought
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