____________________________

1 Participated in morning AIB presentation session only

2 Participated in the afternoon session only

3 Participated in lunch presentation only

MINUTES OF THE JUNE 12, 2017, MEETING

OF THE BOARD OF REGENTS

ATTENDANCE

This scheduled meeting of the Board of Regents (“Board”) of the Smithsonian Institution 

(“Smithsonian”) was held on Monday, June 12, 2017, in the Council Room of the National Museum 

of African American History & Culture (“NMAAHC”). Board Chair David M. Rubenstein welcomed 

Regents and staff and called the meeting to order at 9:04 a.m. Also present were Regents:

The Chief Justice2

Senator John Boozman

Representative Doris Matsui

Ambassador Barbara M. Barrett

Steve Case, Vice Chair

John Fahey

Roger W. Ferguson, Jr.

Michael Govan

Risa J. Lavizzo-Mourey

Michael Lynton

John W. McCarter, Jr

Robert MacDonald, Smithsonian National Board Chair

The Vice President, Senator Patrick J. Leahy, Representative Tom Cole, and Representative Sam 

Johnson were unable to attend the meeting. 

Smithsonian and Regent staff present by invitation of the Board were: 

David J. Skorton, Secretary

Charles R. Alcock,3 Director, HarvardSmithsonian Center for Astrophysics

Patricia Bartlett, Acting Assistant Secretary 

 Education & Access

Greg Bettwy, Chief of Staff to the Secretary

Derrick Dickey, Chief of Staff to Senator Perdue

Zully Dorr, Acting Assistant Secretary for 

 Advancement

Julie Eddy, Chief of Staff to Representative 

Matsui

Jennifer Ehlinger, Office of the Regents Senior 

 Officer for Operations & Programs (recorder)

Rachel Goslins,1 Director, Arts & Industries 

 Building

Amanda Hamilton, Office of Representative Sam 

 Johnson

Cathy Helm, Inspector General

Toni-Marie Higgins, Office of Senator Boozman

Anson "Tuck" Hines,3 Director, Smithsonian 

Environmental Research Center

Albert Horvath, Under Secretary for Finance & 

 Administration/Chief Financial Officer 

Kirk Johnson,3 Sant Director, National Museum 

 of Natural History

Dennis Kelly, Director,3 National Zoological 

Park

Richard Kurin, Acting Provost/Under Secretary 

 for Museums & Research

John K. Lapiana, Deputy Under Secretary for

 Finance & Administration/Acting Assistant 

Secretary for Communications & External Affairs

Judith Leonard, General Counsel 
2

Amy Marino,3 Senior Program Officer, 

Office of the Under Secretary for 

Museums & Research Provost 

Era Marshall, Director for the Office of Equal 

 Employment and Minority Affairs

Scott Miller,3 Deputy Under Secretary for

 Collections & Interdisciplinary Support

Kevin McDonald, Senior Adviser to Senator 

 Leahy

Jeffrey P. Minear, Counselor to the Chief Justice 

Sean Murphy, Chief of Staff to Representative 

 Cole

Stephen M. Pinkos, Office of the Vice President

Maura Reidy, Acting Director of Government 

 Relations 

Porter N. Wilkinson, Chief of Staff to the 

Regents
3

MORNING SESSION

Welcome and 

Introductions

Upcoming Dates and 

Events

Recognition of Former 

Regents

REPORT OF THE BOARD AND EXECUTIVE COMMITTEE CHAIR

Mr. Rubenstein began his report by welcoming new citizen Regents Roger W. 

Ferguson, Jr., and Michael Govan to their first meeting as voting Regents; he 

also welcomed liaison to the Vice President Stephen M. Pinkos to his first 

meeting. Mr. Rubenstein asked staff in attendance to identify themselves for 

the benefit of Mr. Ferguson, Mr. Govan, and Mr. Pinkos. 

Next, Mr. Rubenstein reviewed upcoming events and important dates. He 

noted that the next scheduled Board meeting will be held on October 23, 

2017. Mr. Rubenstein then reminded the Board about the Directors’

appreciation dinner he will be hosting the next evening, June 13, 2017, at the 

Anderson House in Washington, D.C. The program will feature a conversation

with recently retired director of the National Museum of African Art Johnnetta 

Cole.

Mr. Rubenstein then presented one business item for the Board’s 

consideration: the formal recognition of former Regents Robert P. Kogod and 

Dr. Shirley Ann Jackson as Regents Emeriti. Pursuant to Board bylaw 2.11, the 

Regents may confer the title of Regent Emeritus on former Regents “who 

accept responsibilities for continuing activities in the interests of the 

Smithsonian Institution.” Mr. Kogod and Dr. Jackson served with distinction 

as Regents and remain involved with the Smithsonian in a meaningful 

capacity. 

Upon two motions duly made and seconded, the Board voted to confer the 

titles of Regent Emeritus and Regent Emerita on Mr. Kogod and Dr. Jackson, 

respectively.

See attached Actions 2017.06.01–2017.06.02 (Minutes of the Board of Regents, 

Appendix A).

Lastly, Mr. Rubenstein reviewed one action item approved by the Executive 

Committee on behalf of the full Board since the April meeting: the approval of 

a proposed lease agreement for administrative office space to support the 

National Air and Space Museum (“NASM”) revitalization project. The lease 

space was selected following a competitive process due to its proximity to 

NASM, rental rate, and current availability, among other requirements. Due 

to the competitive nature of the rental market, execution of the lease was 

deemed to be time sensitive and therefore required the Executive 

Committee’s expedited approval on behalf of the Board, pursuant to Board 

bylaw 3.01. 
4

Consent Agenda

Questions on Written 

Committee Reports 

APPROVAL OF THE CONSENT AGENDA

The consent agenda (“agenda”) was presented for the Board’s approval. For 

the benefit of the new Regents and Mr. Pinkos, Mr. Rubenstein reviewed the 

process and procedures governing use of the agenda. The consent agenda 

contains routine and non-controversial items that do not require independent 

discussion and can therefore be approved in one, en banc motion. The 

Board’s use of the agenda mandates that an item will remain on the agenda 

only by unanimous consent, and any Regent may ask the Office of the Regents 

to remove an item from the agenda for discussion by providing three-days’ 

notice in advance of the scheduled Board meeting. 

Action items listed on the present meeting’s agenda include the draft minutes 

of the April 3, 2017, Board meeting and the appointment and reappointment 

of candidates to ten Smithsonian Advisory Boards. Upon motion duly made 

and seconded, the Board voted to adopt the agenda, constituting the approval 

of all action items listed therein.

See attached Actions 2017.06.03 (Minutes of the Board of Regents, Appendix A).

QUESTIONS ON WRITTEN COMMITTEE REPORTS

Mr. Rubenstein reminded the Board of the procedural meeting modifications, 

which were adopted in June 2015 and have been in use since the October 

2015 meeting. Regent committees having no action or discussion items 

prepare written reports that were distributed in advance of the meeting. 

Regent committee chairs and senior Smithsonian staff were present to answer 

questions from the Board about the written reports. 

Written Report of the Advancement Committee

The Advancement Committee conducted a teleconference meeting on March 

8, 2016, and subsequently conducted an in-person meeting on May 15, 2017. 

During these meetings, the Committee discussed the progress of the 

Smithsonian Campaign (“Campaign”), the Smithsonian’s corporate fundraising 

efforts, plans to review of the Committee’s charter, and overall fundraising 

efforts. As of April 30, 2017, the Smithsonian had raised $1.69 billion for the 

Campaign, and $132.5 million towards the fiscal year 2017 goal of $200 

million.
5

Written Report of the Compensation & Human Resources 

Committee

The Compensation and Human Resources Committee conducted a 

teleconference meeting on May 16, 2017. During the meeting, the 

Committee voted to authorize the Regent’s compensation consultant to 

review seven Trust executive positions in order to determine the appropriate 

compensation approach. The Committee is expected to review the 

consultant’s recommendations at its September 2017 meeting. 

Written Report of the Facilities Committee

The Facilities Committee held a meeting on April 24, 2017. During the 

meeting, the Committee was briefed on the status of the revitalization of the 

National Air and Space Museum (“NASM”), received updates on the South 

Mall Campus Master Plan, discussed the Consolidated Administrative 

Headquarters Initiative, and received updates on the progress of the 

Smithsonian’s Major Capital Projects. The Committee also recognized retiring 

Regent and Committee Chair Robert P. Kogod for his many contributions to 

the Committee, the Board, and the Smithsonian and the many notable 

facilities projects completed during his tenure.

The Committee was briefed on the latest developments on the South Mall 

Campus Master Plan. The Smithsonian and the consultant master planning 

team have recently developed a revised concept (“Alternative F”), which is in 

response to concerns raised by public consulting parties, external 

stakeholders, and review authorities. The concept reduces the amount of 

excavation beneath the Smithsonian Castle (“Castle”), retains a flat grade and 

signature components (such as the central parterre) for the Haupt Garden, 

and improves views of the site’s historic and iconic buildings, including the 

Castle, AIB, and the Freer Gallery of Art. Under Alternative F, all of the 

Smithsonian’s original goals for the master plan—such as improving access 

and circulation, centralizing utilities and loading facilities, maximizing garden 

spaces, and restoring the Castle—continue to be met, and the initial reactions 

from several stakeholders to the new plan are positive.

The Committee also received an update on the NASM Revitalization. In June 

2017, construction is expected to begin on the Dulles Collections Storage 

Module 1, which is adjacent to the Udvar-Hazy Center (“UHC”) in Chantilly, 

Virginia. The facility will provide collections storage space for artifacts that 

must be relocated out of NASM during the multi-year revitalization. 

Construction funding in the amount of $40 million was included in the final 

fiscal year 2017 appropriation. An additional $10 million will be required to 

complete the project metrics for fiscal year 2018.
6

Written Report of the Investment Committee 

The Investment Committee met on March 21, 2017, and on June 6, 2017. During 

the meetings, the Committee reviewed the Investment Portfolio, Asset Allocation 

and Risk Review, Portfolio Implementation and Operations. 

The Investment Committee recently voted to approve and adopt the revised 

Investment Guidelines, which reflect the consideration of relevant environmental, 

social, and governance (“ESG”) factors during investment decision. As of March 

31, 2016, the Endowment stood at $1.408 billion.

Written Report of the Smithsonian National Board

The Smithsonian National Board (“SNB”) held its spring meeting from April 27 

through April 29, 2017, in Washington, D.C. During the meeting, the SNB 

focused on the topic of innovation. SNB members spent several hours 

discussing the future plans for the innovation space at the Arts & Industries 

Building. Members discussed messaging the space for prospective funders,

the role of personalized technology in engaging visitors, how to structure for 

up-to-the-minute content, and public programs the Smithsonian could use as 

a model for innovation space-related programming.

The SNB also discussed how innovation is explored at all Smithsonian 

museums. Members visited the National Museum of American History’s 

Lemelson Center for the Study of Invention & Innovation and the National Air 

and Space Museum (“NASM”) to learn about the work of NASM’s Innovation 

Lab team. The spring meeting included presentations from Lemelson Center 

Director Arthur Daemmrich, NASM Director General Dailey, NASM Chief 

Curator Peter Jakab, and NASM’s Innovation lab team. Acting Assistant 

Secretary for Education and Access Patty Bartlett, Acting Assistant Secretary 

for Communications and External Affairs and Deputy Under Secretary for 

Finance and Administration John Lapiana, Smithsonian Magazine Editor-inChief Michael Caruso, Head of Education at the Lemelson Center for the Study 

of Invention and Innovation Tricia Edwards, Director of Institutional Relations 

Rob Ritter, and Director of the Smithsonian Asian Pacific American Center Lisa 

Sasaki participated in the presentations.

Written Report of the Strategy, Innovation, and Technology 

Committee’s Report

The Strategy, Innovation, and Technology Committee met on May 8 and May 

22, 2017. During the meetings, the Committee reviewed communications on 

two upcoming exhibits that were likely to create increased stakeholder 

interest; discussed follow-up from the Regents’ April 3, 2017, strategic 
7

Report of the 

Governance and 

Nominating Committee

Committee Assignments 

and Chairmanships

Report of the Finance 

Committee

FY 2018 Budget Request 

to Congress

FY 2018 Endowment 

Payout 

meeting; reviewed the exhibition calendar; and discussed progress and 

implementation of the Smithsonian’s new strategic plan.

REPORT OF THE GOVERNANCE AND NOMINATING COMMITTEE

Next, Governance and Nominating Committee Chair Ambassador Barbara M. 

Barrett presented one action item for the Board’s consideration: committee 

assignments and chairmanships for newly appointed Regents Mr. Ferguson 

and Mr. Govan. 

By tradition, Citizen Regents typically serve on three Regent committees and 

chair at least one committee, generally after their first year of service, and 

Congressional Regents are assigned to two committees. Upon motion duly 

made and seconded, the Board voted to approve the proposed committee 

assignments and chairmanships for Mr. Ferguson and Mr. Govan and 

recommended that the Chancellor make the necessary appointments. The 

proposed committee assignments for Mr. Ferguson are Audit and Review 

Committee, Finance Committee and Investment Committee (Vice Chair). The 

proposed committee assignments for Mr. Govan include Facilities Committee, 

Compensation and Human Resources Committee, and Strategy, Innovation 

and Technology Committee.

See attached Actions 2017.06.04 (Minutes of the Board of Regents, Appendix A).

REPORT OF THE FINANCE COMMITTEE

Finance Committee Chair John Fahey presented three items for the Board’s 

consideration: (1) the fiscal year 2018 budget request to Congress, (2) the 

2018 Endowment payout, and (3) the defeasance of the Series 2010 Bonds. 

Mr. Fahey noted that on April 4, 2017, the Smithsonian received final 

settlement on the fiscal year 2018 Budget from the Office of Management and 

Budget (“OMB”), which reflects the amount of funds the President will include 

in his overall fiscal year 2018 budget submission to Congress. The 

Smithsonian’s requested budget includes $719 million for Salaries and 

Expenses, and $228 million for Facilities Capital, and is $83.7 million or 12.7 

percent higher than the fiscal year 2017 final settlement amount. Upon 

motion duly made and seconded, the Board approved the Smithsonian’s fiscal 

year 2018 federal budget request to Congress. 

See attached Actions 2017.06.05 (Minutes of the Board of Regents, Appendix A).

Next, Mr. Fahey presented the fiscal year 2018 Endowment Payout 

recommendation. The Smithsonian’s historical policy is to pay out five 

percent of the trailing average market value per share over the previous five 

years to support programs and activities. Since 2011, an additional annual 
8

Defeasance of Series 

2010 Bonds

Earth Optimism Summit

Second Opinion Website

payout of up to one percent has been added in order to pay for the costs of 

the National Campaign, the practice of which is expected to end at the 

conclusion of the Campaign in fiscal year 2018. The projected payout to 

support programmatic activity for fiscal year 2018 is $66.4 million and the 

campaign financing payout is projected at $5.9 million. Upon motion duly 

made and seconded, the Board approved a five percent payout from the 

Smithsonian Endowment in fiscal year 2018 to support programmatic activity. 

Further, the Board approved up to an additional one percent payout from 

eligible Smithsonian Endowment funds in fiscal year 2018 for expenses 

associated with the Smithsonian Campaign. 

See attached Actions 2017.06.06 (Minutes of the Board of Regents, Appendix A).

Lastly, Mr. Fahey presented the Finance Committee’s recommendation that 

the Board approve Smithsonian management’s recommendation that the 

Smithsonian’s outstanding Series 2010 Bonds be legally defeased by 

purchasing, and depositing into escrow, securities sufficient to satisfy future 

debt service requirements. Mr. Fahey explained that the defeasance of the 

Smithsonian’s Series 2010 Bonds would relieve the Smithsonian from annual 

debt burden related to 2010 loans, which were used to fund construction of 

the Discovery Center at the National Museum of Natural History. Upon 

motion duly made and seconded, the Board approved the defeasance of the 

Smithsonian’s Series 2010 Bonds. 

See attached Actions 2017.06.07 (Minutes of the Board of Regents, Appendix A).

REPORT OF THE SECRETARY

Secretary Skorton updated the Board on the state of the Smithsonian, 

including the Smithsonian’s first Earth Optimism Summit, the Secretary’s new 

“Second Opinion” website, the independent consultant’s report on 

Communications, post-campaign strategy, communications on upcoming 

exhibitions, and follow-up from the April 2017 strategic meeting. 

The Secretary reported on the success of the recent Earth Optimism Summit 

(“Summit”), which was convened by the Smithsonian on Earth Day Weekend 

and included a three-day program, featuring over 150 scientists, thought 

leaders, philanthropists, conservationists, and civic leaders. The program

highlighted what is working in conservation and how to scale and replicate it. 

With the success of the Smithsonian’s first Summit, the Secretary has decided 

to assemble a small group of the Summit’s leaders and speakers to meet 

regularly and follow-up on the issues and ideas discussed during the Summit. 

Next, the Secretary demonstrated another initiative, recently launched with 

the goal of expanding the Smithsonian’s reach and engaging with visitors 
9

Mid-Campaign Review

OCEA Review

Upcoming Exhibitions

across the globe: the Secretary’s “Second Opinion” website. The interactive 

platform seeks to engage thought leaders from outside of the Smithsonian 

with the Smithsonian’s internal subject matter experts through online 

interaction. The first two topics highlighted on the website were climate 

change and immigration. 

The Secretary then reviewed two recent reports regarding Smithsonianrelated activities developed by outside consultants: (1) the Grenzebach Glier 

and Associates (“GG+A”) mid-campaign review of the Smithsonian’s National 

Campaign (“Campaign”) and (2) the Hill+Knowlton Strategies (“H+K”) report 

on the Smithsonian’s communications and external affairs.

The Smithsonian engaged GG+A in July 2016 to conduct a Mid-Campaign 

Development Program Review of the National Campaign. The review 

indicated that the Smithsonian is doing well in terms of fundraising activities, 

especially with regard to the Campaign, which has been remarkably successful 

in securing new levels of philanthropic support and has already reached--and 

surpassed—its $1.5 billion goal. In their report, GG+A recommended 

increasing the efficiency of the fundraising machinery, further centralizing 

fundraising communications across the Smithsonian, increasing donor 

engagement, and deepening volunteer engagement.

In November 2016, the Smithsonian engaged another external consultant, 

H+K, to assess the Smithsonian’s Office of Communications and External 

Affairs (“OCEA”) and provide potential recommendations for improvements 

with regard to organizational structure, procedures, and strategies. H+K’s 

review indicated that OCEA is performing well in a number of areas and is 

successful in its ongoing work of communicating the Smithsonian’s vision, 

mission, and value to external audiences. The report noted a few potential 

areas of focus to include furthering strategic outreach, initiating a 

collaborative branding effort to increase consistency across the units, and 

continuing to centralize the internal communication mechanisms and 

organizational structure.

The Secretary then reported on two upcoming exhibitions, which had been 

reviewed by the Strategy, Innovation, and Technology Committee during its 

May meeting. Both exhibitions are scheduled to open on June 28, 2017: 

“2 West: The Nation We Build Together” will include two new permanent 

exhibitions focused on religion and immigration at the National Museum of 

American History; and “Ai WeiWei: Trace” at the Hirshhorn Museum and 

Sculpture Garden (“HMSG”) is a temporary exhibition, featuring the work of a 

well-known, but potentially controversial artist. Both exhibits are likely to 

bring a large number of visitors and could potentially generate a fair amount 

of media attention. 
10

April Strategic Meeting 

Follow-up

Fort Mason Project

AIB Update

London Update

The Secretary briefed the Board on the positive feedback received from 

company participants and potential collaborations arising out of the 

Regents’ April 3, 2017, strategic meeting. Several units have been in 

contact with specific companies about emerging technologies that 

potentially could be integrated into their individual units. Smithsonian 

leadership has had conversations regarding potential pan-institutional 

initiatives that could enrich the visitor experience. The Secretary also 

informed the Committee of his intention to assemble a cabinet of 

technology representatives to serve in an informal advisory role. 

UPDATE ON STRATEGIC PROJECTS

The Secretary briefed the Board on a potential opportunity to pilot a project 

at the Fort Mason Center for Arts & Culture in San Francisco. The project 

would aim to bring contemporary art and design, sourced primarily from 

Smithsonian units, to the West Coast over a thirty-six month period. 

Director of the Arts & Industries Building Rachel Goslins briefed the Board on 

the most recent developments for the proposed gallery space in the historic 

building. 

AIB reopened for special events in the fall of 2015 and has since hosted 

several activities, including the 2016 Folklife Festival Marketplace and the 

Asian Pacific American Center’s “Crosslines Culture Lab.” A significant amount 

of additional funding will be necessary to complete the interior renovation, 

including the installation of new building systems to restore the building to a 

fully operational state that can accommodate long-term use. 

In the meantime, Smithsonian leadership is working to develop an interim 

program for the space, which would span the next five to seven years. AIB 

Director Rachel Goslins has been leading the effort to develop a business plan 

for content creation and building operations and to facilitate fundraising. 

Currently, two simultaneous, programmatic spaces are being considered: 

(1) an innovation themed offering that would be highly interactive and would 

employ a variety of technologies and delivery approaches; and (2) a gallery 

that would house content focused on the Latino American experience that is 

being developed by the Smithsonian's Latino Center. 

Under Secretary for Finance & Administration/Chief Financial Officer Albert 

Horvath provided the Board with an update on the opportunity in London. In 

June 2016, the Smithsonian and the Victoria and Albert Museum (“V&A”) 

announced plans to pursue an international collaboration as part of the 

redevelopment of the Queen Elizabeth Olympic Park in London. Since then, 

teams from each organization have worked together to develop the 

programmatic strategies, business model, and terms of a formal agreement. 
11

The V&A and the Smithsonian would jointly curate content for a significant 

portion of a new V&A facility on the East London site. 

In January 2017, the Board authorized the Secretary to execute a draft “Heads 

of Terms” (non-binding agreement), which will form the basis for a formal, 

binding agreement. A joint business plan was developed by the Smithsonian 

and V&A teams, which outlined planned resources, content, and program 

delivery. In early February, a challenge regarding the facilities master plan has 

caused a slight delay in the project’s momentum. The residential towers, 

which were to be built on the waterfront site along with the buildings for the 

V&A and Smithsonian were planned at 40 stories and were expected to 

provide significant revenue toward the project. However, due to historic 

preservation concerns involving protected sightlines, the towers must be 

scaled back down by over fifty percent. The V&A and the Smithsonian are 

working with other partners to revise the facilities master plan; and the V&A 

and Smithsonian content teams have continued to work together and are 

developing a plan to refine the programmatic strategy and accommodate a 

two-building solution. 

Following the update on strategic projects, the Board adjourned to the 

luncheon program at approximately 11:33 a.m.

LUNCH: CONVERSATIONS WITH SMITHSONIAN SCIENCE DIRECTORS

During lunch, Regents and Smithsonian staff convened for the first in a series 

of new luncheon programs to be featured at Regents’ quarterly meetings. A 

different group of Smithsonian directors will be invited to join the Regents to 

highlight the rich and varied work conducted by the Smithsonian’s subject 

matter experts. The June 13 luncheon program featured a conversation 

between Mr. Rubenstein and four of the Smithsonian’s science directors. 

Director of the Harvard-Smithsonian Center for Astrophysics Charles R. Alcock, 

Director of the Smithsonian Environmental Research Center Anson “Tuck” 

Hines, Sant Director of the National Museum of Natural History Kirk Johnson, 

and Director of the Smithsonian Tropical Research Institute Matthew Larsen 

discussed their respective work and unit’s role in advancing science and the 

Smithsonian’s larger role in the scientific community.

AFTERNOON SESSION

The Chancellor called the afternoon session to order at approximately 12:50 

p.m. and reviewed the remainder of the Board’s business agenda. 
12

SECRETARY’S QUESTION ON SCIENCE

Following the inaugural luncheon program, the Board discussed the

Smithsonian’s role in the larger scientific community and the contributions of 

the Smithsonian’s many scientific research centers and museums. Finally, the 

Board discussed how the Smithsonian can better position itself as a major 

figure in the world of science. 

STRATEGIC PLAN IMPLEMENTATION

Mr. Horvath presented the initial ideas surrounding the implementation of the 

Smithsonian’s new strategic plan for 2017-2022 and discussed the objectives of a 

Strategic Plan Implementation Core Team. The team’s initial activities will focus 

on establishing a communications strategy, developing metrics and a standard 

approach for measurement and reporting, creating a strategic resources plan, and 

developing a culture of recognition and celebration. He also discussed the 

creation of goal teams related to each of the following seven plan goals: Be one 

Smithsonian; catalyze new conversations; reach one billion people per 

year/digital first; understand and impact 21st century audiences; drive large, 

visionary, interdisciplinary research and scholarly projects; preserve our natural 

and cultural heritage while optimizing our assets; and provide a nimble cost 

effective, and responsive administrative infrastructure. Each goal team will be 

tasked with establishing goals, defining success, prioritizing actions, establishing 

metrics and measurements, and building a timeline related achievements.

BUDGET FLEXIBILITIES: REVIEW AND RECOMMENDATIONS

Next, Mr. Horvath briefed the Board on the Smithsonian’s budget and the 

recommendations of the budget review panel. The panel, comprised of staff 

from across the Smithsonian, was assembled by the Secretary in March 2017 

and tasked with conducting a strategic review of the Smithsonian’s budget 

and resource allocation. The panel identified potential institutional strategies 

relating to revenue, operations and organizational efficiencies in an effort to 

allow the institution to more proactively anticipate federal appropriations and 

prepare for funding priorities likely to arise from the new strategic plan. The 

panel will work with the Strategic Plan Implementation Team to assess, refine 

and execute the strategies. 

EXECUTIVE SESSION: “GATEKEEPER” REPORTS 

The Board then conducted an executive session with the Smithsonian’s 

Gatekeepers, including the Secretary, General Counsel, and Chief Financial 

Officer.
13

ADJOURNMENT

There being no further business to discuss, the meeting adjourned at

approximately 2:48 p.m., after which Mr. Rubenstein and the Secretary 

moved to a separate room at NMAAHC to address questions from the media.

Respectfully submitted,

David J. Skorton

Secretary
APPENDIX A: ACTIONS OF THE

JUNE 12, 2017, MEETING OF THE BOARD OF REGENTS

The Board of Regents approved two motions recognizing extraordinary service to the 

Smithsonian. At the request of the Board, actions 2017.06.01–2017.06.02 are being treated as 

confidential until publicly announced.

VOTED that the Board of Regents adopts the Consent Agenda, which constitutes the approval 

of all action items listed therein. [2017.06.03]

VOTED that the Board of Regents approves the minutes of the April 3, 2017, meeting of 

the Board of Regents.

VOTED that the Board of Regents approves the proposed slate of candidates for 

appointment or reappointment to ten Smithsonian advisory boards.

VOTED that the Board of Regents approves of the 2017 proposed committee chairmanships 

and member assignments for Roger W. Ferguson, Jr., and Michael Govan and requests that the 

Chancellor make the necessary appointments. [2017.06.04]

VOTED that the Board of Regents authorizes the Secretary to submit to Congress a federal 

budget request for appropriated funds for fiscal year 2018 as part of the President’s budget in 

the amount of $947 million, as negotiated with OMB, and authorizes the Secretary to inform 

OMB and Congress fully about the implications of the President’s budget for the mission and 

priorities of the Smithsonian. [2017.06.05]

VOTED the Board of Regents approves a five percent payout from the Smithsonian Endowment 

in fiscal year 2018 to support programmatic activity. Further, the Board approves up to an 

additional one percent payout from eligible Smithsonian Endowment funds in fiscal year 2018 

for expenses associated with the Smithsonian Campaign. The payout shall be calculated against 

the trailing five-year average market value of the Smithsonian Endowment. [2017.06.06]

VOTED that the Board of Regents approves the defeasance of the Smithsonian’s Series 2010 

Bonds. [2017.06.07]