Viewing page 16 of 142

This transcription has been completed. Contact us with corrections.

-4-

Future before the Regents for approval so well ahead of schedule. The Committee joins the Secretary and his staff in taking this occasion to express the Institution's gratitude for Mr. Schermer's extraordinary act of devotion to the Smithsonian's best purposes.

The meeting of the Executive Committee was adjourned at about 1:30 p.m.

REPORT OF THE AUDIT AND REVIEW COMMITTEE

The Audit and Review Committee of the Board of Regents met on Thursday, October 1, 1992, at the Smithsonian's Museum Support Center in Suitland, Maryland. Mr Woolsey called the meeting to order at 8:15 a.m. Present were:

R. James Woolsey, Chairman
David C. Acheson
Jeannine S. Clark
Robert B. Morgan
Charles McC. Mathias

Also present were: Secretary Robert McC. Adams; Assistant Secretary for Finance and Administration Nancy D. Suttenfield; Inspector General Thomas D. Blair; Executive Assistant to the Secretary James M. Hobbins; Deputy Assistant Secretary for Finance Rick R. Johnson; Deputy Assistant Secretary for the Arts and Humanities Claudine K. Brown; Deputy Assistant Secretary for the Sciences Ross B. Simons; Director, Office of Sponsored Projects, Ardelle G. Fosses; Director of Protection Services Charles A. Hines; Comptroller, Office of Accounting and Financial Services, Shireen L. Dodson; Director, National Museum of Natural History, Catherine J. Kerby; Director, Museum Support Center, U. Vincent Wilcox, III; L. Reid Ivins, Assistant to Senator Garn; and, from Coopers and Lybrand, Washington Managing Partner Raymond Ranelli, Co-Chairman of Higher Education and Non Profits Clark L. Bernard, Boston Partner Robert Forrester, Engagement Partner A. William Mann, Audit Manager Steve Howell, and Consulting Partner Carolyn Smith.

The meeting opened with a brief introduction and orientation to the Museum Support Center by Dr. Talbot and Mr. Wilcox, who showed the Committee a short video on the history, purposes, and current operations of the Center. In discussion, Dr. Talbot spoke about the efforts which have been devoted to equipping the Center and moving the collections of the Natural History Museum. He also spoke of the significance of this facility for the operations of the Museum and noted that the capacity of the Center will be filled in a matter of a few years.

Mr. Adams informed the Committee that Under Secretary Newman and her transition team have paid strict attention to the number of outstanding audit recommendations and have succeeded in reducing the number substantially in a relatively short time. The Secretary indicated that the remaining open audit recommendations, most of which will be closed out by the end of the year, could be grouped into categories of accounting, collections management, exhibition review and scheduling, the accessibility program, and computer needs. He assured the Committee that, while Mrs. Newman will report on