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[[underline]]Report of the National Collection of Fine Arts Commission[[/underline]] 

Mr. Ripley explained that the Board of Regents by statute has various responsibilities for the National Collection of Fine Arts including the responsibility to maintain a worthy standard for acceptance or other acquisition of art objects.

Consequently, at each January meeting reports of the two meetings held annually by the National Collection of Fine Arts Commission are submitted to the Board of Regents for approval. 

The Executive Committee after considering these reports recommended that the listed acquisitions be revised to include the purchase price.

A motion for approval of the reports was offered and it was

VOTED that the Board of Regents approves the actions recommended by the National Collection of Fine Arts Commission at its meetings of May 9, 1972, and December 5, 1972.