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Executive Committee and Board of Trustees May 1999 Meeting Minutes

NOTE: AT THE PRESENT TIME, THE ATTACHMENTS ARE NOT AVAILABLEELECTRONICALLY. IF YOU WOULD LIKE TO SEE AN ATTACHMENT, PLEASE CONTACT ELLENHEISER AT THE AMS HEADQUARTERS BY EMAIL (ehh@ams.org) OR TELEPHONE (800-321-4267).

AMERICAN MATHEMATICAL SOCIETY EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES MAY 7-8, 1999 PROVIDENCE, RHODE ISLAND MINUTES TABLE OF CONTENTS

EXECUTIVE COMMITTEEINFORMATION ITEMS

PAGE1I.1 Secretariat Business by Mail. Att. #1..........................1

EXECUTIVE COMMITTEE AND BOARD OF TRUSTEESACTION/DISCUSSION ITEMS

2.1 Report on Committee on Meetings and Conferences (COMC)..........1
2.2 Report on Committee on Publication (CPub).......................2
2.3 Report on the Mathematical Reviews Editorial Committee (MREC)...2
2.4 Report on Committee on the Profession (CoProf)..................2
2.5 Report on Committee on Education (CoE). Att. #2................2
2.6 Report on Committee on Science Policy (CSP). Att. #3...........2
2.7 Washington Office Report. Att. #4..............................2
2.8 Report from the President. Att. #5.............................2
2.9 Strategic Planning (revisited)..................................2
2.10 Task Force for Excellence.......................................3
2.11 2000 Journal Pages..............................................3
2.12 2000 Journal Prices.............................................4
2.13 2000 Institutional Dues.........................................4
2.14 Impact of Recent Changes in Membership Fees for Individuals.....4
2.15 2000 Individual Member Dues.....................................4
2.16 National Consortium for the Study of Scientific Literacy. Att. #11........................................................5
2.17 AAAS Science on the Mall Project................................5
2.18 Database of Underrepresented Minority Mathematicians. Att. #13.5
2.19 WONDER SCIENCE..................................................6
2.20 AMS Presence at the Annual Meeting of SACNAS. Att. #14.........6
2.21 Support for the President.......................................6
2.22 2000 ABC/ECBT Meetings..........................................7

EXECUTIVE COMMITTEE AND BOARD OF TRUSTEESCONSENT ITEMS

2C.1 November 1998 ECBT Meeting......................................7
2C.2 Resolution of Thanks for Don Lewis..............................7
2C.3 ECBT Business by Mail. Att. #29................................7

EXECUTIVE COMMITTEE AND BOARD OF TRUSTEESINFORMATION ITEMS

2I.1 Actions of the Agenda and Budget Committee (ABC)................8
2I.2 Report on e-MATH. Att. #19.....................................8
2I.3 Programs of Sectional Meetings..................................8
2I.4 Presidential Task Force on Coordination of Initial Academic Positions. Att. #20............................................8
2I.5 Continued NSF Support of the Summer Research Conferences Affirmed. Att. #21.............................................9
2I.6 Workshop on Research Experience for Undergraduate Programs......9
2I.7 AMS-MAA Project on Preparing Future Faculty in Mathematics. Att. #22........................................................9
2I.8 AAS-AMS-APS Public Service Award................................9
2I.9 AMS-MER Workshops on Professional Master's Degree Programs in Mathematics.....................................................10
2I.10 Sloan Nonacademic Careers Project...............................10
2I.11 Report on 1999 Annual Meeting of the American Association for the Advancement of Science (AAAS). Att. #23....................10
2I.12 Report on December 1998 CSSP Meeting............................10
2I.13 AMS Centennial Fellowships for 1999-2000........................10
2I.14 State of the AMS. Att. #18.....................................10

BOARD OF TRUSTEESACTION/DISCUSSION ITEMS

3.1 Discussion of Fiscal Reports....................................10
3.2 Budgeted Staffing Levels........................................11
3.3 Capital Expenditures - 1999 Capital Purchase Plan...............11
3.3.1 Capital Expenditures - Approval of Specific Purchases...........11
3.4 Investment Committee Report.....................................11
3.5 Audit Committee Report. Att. #32...............................11
3.6 Registration Fees for the January 19-22, 2000 Joint Mathematics Meetings in Washington, DC......................................11
3.7 Summary of Requests for Program Development Fund Expenditures...11
3.8 Trustee Reports on Divisions....................................11
3.9 Meeting of MR, Inc..............................................12
3.10 Resolution for Retiree..........................................12

BOARD OF TRUSTEESCONSENT ITEMS

3C.1 Trustees' Officers..............................................12
3C.2 Resolution for Retiree..........................................12

BOARD OF TRUSTEESINFORMATION ITEMS

3I.1 Short-term Investments. Att. #24...............................13
3I.2 Economic Stabilization Fund (ESF) Increment.....................13
3I.3 Year 2000 (Y2K) Project Update..................................13
3I.4 Expenditures for Working Group on Public Awareness..............13
3I.5 Actions of the Executive Director...............................13

ATTACHMENTS ITEM
1 Secretariat Business by Mail....................................1 I.1
2 Report on Committee on Education................................2.5
3 Report on Committee on Science Policy...........................2.6
4 Washington Office Report........................................2.7
5 Report from the President.......................................2.811
National Consortium for the Study of Scientific Literacy........2.1 613
Database of Underrepresented Minority Mathematicians............2.1814
AMS Presence at the Annual Meeting of SACNAS....................2.2018
State of the AMS................................................2I.1419
Report on e-MATH................................................2I.220
Presidential Task Force on Coordination of Initial Academic Positions.......................................................2I.421
Continued NSF Support of the Summer Research Conferences Affirmed........................................................2I.522
AMS-MAA Project on Preparing Future Faculty in Mathematics......2I.723
Report on 1999 Annual Meeting of the AAAS.......................2I.1124
Short-term Investments..........................................3I.129
ECBT Business by Mail...........................................2C.332
Audit Committee Report..........................................3.5

AMERICAN MATHEMATICAL SOCIETY EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES MAY 7-8, 1999 PROVIDENCE, RHODE ISLAND MINUTES

A joint meeting of the Executive Committee of the Council (EC) and theBoard of Trustees (BT) was held Friday-Saturday, May 7-8, 1999, at the AMSHeadquarters in Providence, Rhode Island. The following members of the ECBTwere present: Roy L. Adler, Felix E. Browder, John B. Conway, Michael G.Crandall, Robert J. Daverman, John M. Franks, Arthur M. Jaffe, Linda Keen,Andy R. Magid, Donald E. McClure, Andrew M. Odlyzko, Joel H. Spencer, andB. A. Taylor. The following member of the ECBT was unable to attend: KarenVogtmann. Also present were: Donald G. Babbitt (Publisher), Gary G. Brownell(Associate Executive Director/Finance and Administration), John H. Ewing(Executive Director), Timothy J. Goggins (Development Officer), Ellen H. Heiser(Assistant to the Executive Director [and recording secretary]), Jane E. Kister(Executive Editor/Mathematical Reviews), James W. Maxwell (Associate ExecutiveDirector/Professional Programs and Services), Constance W. Pass (Controller),and Samuel M. Rankin (Associate Executive Director/Government Relations andPrograms). President Browder and Board Chair Crandall presided. Items occur in numerical order, which is not necessarily the order inwhich they were discussed at the meeting.

EXECUTIVE COMMITTEEINFORMATION ITEMS

1I.1 Secretariat Business by Mail. Att. #1. Minutes of the Secretariat business by mail during the months November1998 - March 1999 are attached (#1).

EXECUTIVE COMMITTEE AND BOARD OF TRUSTEESACTION/DISCUSSION ITEMS

2.1 Report on Committee on Meetings and Conferences (COMC). The ECBT received the following report on COMC activities since thelast ECBT meeting. COMC has not met since September 1998. In the interim, the Chairparticipated in a discussion with the Long Range Planning Committee when it metin Providence last November. In San Antonio in January, a COMC focus group metto discuss the effectiveness of the AMS Invited Addresses at January meetings.The group was co-chaired by COMC member Karen Parshall, Associate SecretaryLesley Sibner, and COMC member Michael Starbird, who is also chairing the COMCSubcommittee to Review the AMS Scientific Program at National Meetings. COMC'sannual report will be published in a spring issue of NOTICES. The next meetingof the Committee is September 17, 1999, in Providence.MAY 1999 ECBT MINUTESPAGE 2

2.2 Report on Committee on Publication (CPub). The ECBT received the following report on CPub activities since thelast ECBT meeting. CPub has not met since September 1998, at which time they approved thecreation of a global directory of preprint and e-print servers (with livelinks) and the dissolution of the AMS preprint server. The global directorywent live on February 1, 1999. The URL is http:///global-preprints.The next meeting of the Committee is scheduled for October 23, 1999.

2.3 Report on the Mathematical Reviews Editorial Committee (MREC). At the time of writing, there is nothing to report. MREC is scheduledto meet next on September 9-10, 1999.

2.4 Report on Committee on the Profession (CoProf). CoProf decided not to hold its previously scheduled spring meeting. Itis now scheduled to meet October 16-17, 1999.

2.5 Report on Committee on Education (CoE). Att. #2. The ECBT received the attached report (#2) on COE activities since thelast ECBT meeting. COE will meet next on September 24-25, 1999.

2.6 Report on Committee on Science Policy (CSP). Att. #3. The ECBT received the attached report (#3) on the March 1999 CSPmeeting.

2.7 Washington Office Report. Att. #4. The ECBT received the attached report (#4) on recent Washington Officeactivities.

2.8 Report from the President. Att. #5. The ECBT received the attached report (#5) from President Browder.

2.9 Strategic Planning (revisited). When the Society conducted its strategic planning in 1991, peoplesuggested that the process be repeated periodically (every 3-5 years). Whenthe Long Range Planning Committee considered whether to repeat strategicplanning in May of 1997, the decision was made to revisit the question in twoyears. The Long Range Planning Committee met on May 7, 1999, and againconsidered whether to repeat the entire strategic planning process. The ECBThad no objection to the LRPC's plan to revisit this question again in twoyears. At their next meeting in November 1999, the LRPC will review theprogress that has been made to date in implementing the Goals and Objectives ofthe original strategic plan. MAY 1999 ECBT MINUTES PAGE 3

2.10 Task Force for Excellence. After considerable time, the Task Force is completing its work duringthe spring and summer of 1999. The book from the Task Force ("TowardsExcellence: Leading a Doctoral Mathematics Department in the 21st Century")will be published in July, and widely circulated later in the summer. Inaddition, a three-day conference on "Leading a Mathematics Department" will beheld during August. The conference will bring together two or three peoplefrom each of the approximately 25 doctoral departments. Its purpose is to usethe materials and experience from the Task Force's work over the past fiveyears to help mathematics departments improve their resources and supportwithin the university. There are several other important ongoing activities that have grownout of the Task Force --- an annual chairs workshop at the Joint Meeting, acontinuing program of focus groups for chairs, and enhanced data collection andsurvey work. For information.

2.11 2000 Journal Pages.

The ECBT authorized the following numbers of pages for 2000:BULLETIN..................................640
CONFORMAL GEOMETRY AND DYNAMICS...........300
ELECTRONIC RESEARCH ANNOUNCEMENTS.........200
JOURNAL OF THE AMS......................1,000
MATHEMATICS OF COMPUTATION..............1,750
MEMOIRS.................................3,200
NOTICES.................................1,550
PROCEEDINGS.............................3,520
REPRESENTATION THEORY.....................500
TRANSACTIONS............................5,750
SUGAKU....................................240

The ECBT also noted that the following numbers of pages are currentlythe staff's best estimates and were included in the version of the 2000 budgetpresented at this meeting:

ABSTRACTS.................................675
CURRENT MATHEMATICAL PUBLICATIONS.......3,528
MATHEMATICAL REVIEWS Issue pages.....................9,213
Annual index pages..............4,447
Total MR pages.................13,660
ST. PETERSBURG..........................1,208
THEORY OF PROBABILITY AND MATHEMATICAL STATISTICS...........324
TRUDY MOSCOW..............................259
EMPLOYMENT INFORMATION IN THE MATHEMATICAL SCIENCES.............325

It was noted that all pages represented here are text pages and do notinclude internal blanks or front and back matter.MAY 1999 ECBT MINUTESPAGE 4

2.12 2000 Journal Prices.

The BT (in consultation with the EC) approved the following list pricesfor 2000 journal subscriptions. It was understood that these prices (exceptfor MATHEMATICAL REVIEWS products) include an additional 1% that is to be setaside in the Archiving Fund for AMS Journals and Books (the purpose of thisFund is outlined in item 2.13 of the November 1995 ECBT minutes).

ABSTRACTS...............................$ 94
BULLETIN................................$ 300
CONFORMAL GEOMETRY AND DYNAMICS.........$ 100
JOURNAL OF THE AMS......................$ 207
MATHEMATICS OF COMPUTATION..............$ 345
MATHEMATICAL REVIEWS Products: MATHEMATICAL REVIEWS (paper).........$ 421
CURRENT MATHEMATICAL PUBLICATIONS....$ 494
MR SECTIONS..........................$ 120
Data Access Fee......................$5,849
MathSciDisc..........................$1,975
MathSciNet...........................$1,775
MathSciNet and MathSciDisc...........$2,600
MEMOIRS.................................$ 466
MOSCOW..................................$ 334
NOTICES.................................$ 321
PROCEEDINGS.............................$ 763
REPRESENTATION THEORY...................$ 100
ST. PETERSBURG..........................$1,236
SUGAKU..................................$ 139
THEORY OF PROBABILITY AND MATHEMATICAL STATISTICS.........$ 474
TRANSACTIONS............................$1,251

2.13 2000 Institutional Dues. The ECBT approved an average increase of 2% for institutional membersin North America, and no increase for the newly established internationalprogram members, for 2000.

2.14 Impact of Recent Changes in Membership Fees for Individuals. The ECBT received a report on the dues revenue impact of the new $50membership fee for first-time and recently joined ordinary members, and theincrease of the high/low ordinary dues cutoff from $45,000 to $55,000.

2.15 2000 Individual Member Dues. The ECBT approved the Council's recommendation that individual memberdues for 2000 remain at the 1999 rate ($132 for ordinary high level), and thatthe high/low dues cutoff be increased from $55,000 to $65,000. MAY 1999 ECBT MINUTES PAGE 5

2.16 National Consortium for the Study of Scientific Literacy. Att. #11. The AMS has been asked to endorse a project to develop a NationalConsortium for the Study of Scientific Literacy. The Consortium will collectdata, conduct research on the interaction of science and traditional values,and promote the sharing of information in the field using the web. A proposal is being submitted to the National Science Foundation forfunding at approximately $1,000,000 per year for five years, with expectedextension for another five years, if successful. This proposal will besubmitted to the Social & Behavioral Sciences Directorate at NSF. The "ProjectSummary" page of the proposal is attached (#11). Initially, the fiscal agent of the grant will be the Chicago Academy ofScience, and the project director will be Dr. Jon Miller, a Vice President ofthe Chicago Academy of Science. Other organizations expected to endorse theConsortium are the American Association for the Advancement of Science, theNational Science Teachers Association, the International Center for theAdvancement of Scientific Literacy, the U.S. TIMSS Center, the AmericanChemical Society, the American Institute of Physics/American Physical Society,the Federation of American Societies in Experimental Biology, the AmericanSociety for Microbiology, the Center for Biomedical Communications atNorthwestern University, the National Academy of Sciences/National ResearchCouncil, the National Council of Teachers of Mathematics, the AmericanPsychological Association, and the American Sociological Association. The ECBT voted to lend AMS's endorsement to the Consortium (nofinancial commitment is required).

2.17 AAAS Science on the Mall Project. The American Association for the Advancement of Science (AAAS) notifiedthe AMS shortly before the ECBT meeting that this project has been cancelled,so this item was withdrawn from the agenda.

2.18 Database of Underrepresented Minority Mathematicians. Att. #13. Temporarily, the proposed Joint Office for Minority Participation hasbeen placed on hold. A combination of financial problems and staff changesdelayed action on the office. But adding to the delay was an uneasiness aboutthe precise role of such an office. Rather than resurrect the office at the moment, a group ofrepresentatives from various organizations have proposed working on small,well-focused projects in order to provide examples for such an office in thefuture. This first project was suggested by several organizations who routinelyconduct workshops and conferences. There is a need to invite underrepresentedminorities to such events, but there is no systematic way to reach theappropriate mathematicians. MAY 1999 ECBT MINUTESPAGE 6 The ECBT approved the attached proposal (#13) to create a smalldatabase of underrepresented minority mathematicians. The BT authorized theallocation of up to $5,000 from the Program Development Fund for this purpose.

2.19 WONDER SCIENCE. The AMS is now participating as an equal partner with the AmericanChemical Society (ACS) and the American Institute of Physics (AIP) on thepublication WONDER SCIENCE. A new agreement between the three societies hasbeen signed. The AMS continues to provide a stipend to a mathematician advisorto work with ACS and AIP advisors on content for WONDER SCIENCE. The onlyadditional financial cost to the AMS in the new agreement is travel for twomembers of the oversight committee each year. The stipend for the mathematician advisor is $5,000. Because this isonly the second year of this new program, the Executive Director requested thatthese funds be paid from the Program Development Fund during the current year.The BT approved this request.

2.20 AMS Presence at the Annual Meeting of SACNAS. Att. #14. In response to the attached letter (#14) from Professor Ricardo Cortez,the BT approved the allocation of $5000 from the Program Development Fund tosupport the Annual Meeting of the Society for Advancement of Chicanos andNative Americans in Science (SACNAS) and, in particular, the mathematicalcomponent of their program.

2.21 Support for the President. The Nominating Committee appended some comments to its report to theApril 1999 Council as follows: "We believe that the duties of the AMS President have become so time consuming, in part because of a) the incresed importance of vigorous AMS representation in Washington, and b) the duties associated with the five policy committees, that it is extremely difficult for anyone to perform satisfactorily as President while simultaneously carrying out their usual responsibilites at their home institution." "We thus strongly recommend that full release time for the President for the two years of his or her presidential term be negotiated with the President's institution, possibly with some AMS funding." The Council endorsed the spirit of the Nominating Committee's comments,recommending that the Board of Trustees assure some flexibility in providingpartial funding, as needed and appropriate, to support release time for thePresident. The ECBT voted to table this item until their next meeting in November1999. MAY 1999 ECBT MINUTES PAGE 7

2.22 2000 ABC/ECBT Meetings.

The ECBT approved the following dates and sites for 2000 ABC and ECBTmeetings:
ABC March 25, 2000 (Saturday)...............................Providence,
RIECBT May 19-20, 2000 (Friday and Saturday)...................Ann Arbor,
MIABC October 7, 2000 (Saturday)..............................Providence,
RIECBT November 17-18, 2000 (Friday and Saturday)..............Providence, RI

It was noted that the members of the ABC in 2000 will be: Browder,Conway, Daverman, Franks, Magid, and Taylor.

EXECUTIVE COMMITTEE AND BOARD OF TRUSTEESCONSENT ITEMS

2C.1 November 1998 ECBT Meeting. The ECBT approved the minutes of the meeting of the Executive Committeeand Board of Trustees held November 20-21, 1998, in Providence, Rhode Island.These minutes include:ECBT open and executive session minutes prepared by the Secretary of theSociety,BT closed executive session minutes prepared by the Secretary of the Board.

2C.2 Resolution of Thanks for Don Lewis. The ECBT approved the following resolution: The Executive Committee and Board of Trustees of the American Mathematical Society record their thanks to Donald Lewis for his four years of devoted service to the mathematical community as Director of the Division of Mathematical Sciences at the National Science Foundation. Under his leadership, innovative support for mathematics has increased. In addition, he has been a candid and eloquent spokesman for the crucial importance of mathematics to all scientific research, educating leaders both inside and outside the Foundation. His influence on American mathematics will be felt for many years to come.

2C.3 ECBT Business by Mail. Att. #29. The ECBT approved the attached minutes of business by mail (Att. #29).MAY 1999 ECBT MINUTESPAGE 8

EXECUTIVE COMMITTEE AND BOARD OF TRUSTEESINFORMATION ITEMS

2I.1 Actions of the Agenda and Budget Committee (ABC). At its March 27, 1999, meeting in Providence, Rhode Island, the ABCtook the following action:The ABC authorized the Executive Director to set the schedule for the May 1999ECBT meeting and decided that there should be an ECBT discussion session onjournals at this meeting.

2I.2 Report on e-MATH. Att. #19. Some of the more significant e-MATH offerings since October 1998 arethe availablility of online meeting registration, notification service ofCURRENT MATHEMATICAL PUBLICATIONS, and the creation and implementation of theGlobal Directory of Mathematics Preprint and e-Print Servers. A detailedreport is included as Att. #19.

2I.3 Programs of Sectional Meetings. Effective with the May 1999 issue of NOTICES, programs of SectionalMeetings will no longer be carried as part of the print version of thisjournal, but will become part of the electronic NOTICES. As is now the case,these programs will be available at the Meetings and Conferences website, wherethey will be constantly updated right up to the time of the meeting. At thispoint, the (now finalized) program will be moved to the next-posted electronicissue of the NOTICES. Electronic program issues will be announced ahead oftime in the printed NOTICES. The electronic versions of these programs will bethe archival versions. Programs of National Meetings will continue to appearin the print version of NOTICES, as well as on the web site.

2I.4 Presidential Task Force on Coordination of Initial Academic Positions. Att. #20. The members of this Task Force were Yum-Tong Siu (Harvard), DavidJerison (MIT), Calvin Moore (UC Berkeley) and Don Lewis (NSF). The goal of theTask Force was to establish a date in early 1999 before which no departmentwould require acceptance of a postdoctoral offer. After working over the fallto lay the groundwork with a core of the top ranked mathematics departments, aproposal was distributed in mid-November to all PhD-granting mathematicsdepartments proposing that no acceptance be requested before February 8, 1999.The Division of Mathematical Sciences at NSF also agreed that all NSFPostdoctoral Fellowship offers would be determined no later than January 29,1999. Almost sixty departments had agreed to adhere to the proposal by earlyJanuary. The current list of adhering departments and institutes appears inAtt. #20. MAY 1999 ECBT MINUTES PAGE 9

2I.5 Continued NSF Support of the Summer Research Conferences Affirmed. Att. #21. Executive Director Ewing was notified in early February 1999 that thejoint AMS-SIAM proposal for continued funding of the AMS-IMS-SIAM SummerResearch Conferences was recommended by the Division of Mathematical Sciencesfor funding for five years at the proposed budget level. Topics for the summerof 2000, listed in Att. #21, were selected by the current selection committeein early March. Solicitation of proposals for the summer of 2001 will beimplemented over the coming summer and fall.

2I.6 Workshop on Research Experience for Undergraduate Programs. The AMS submitted a proposal to the National Security Agency (NSA) inSeptember for funding to support a three-day workshop involving individuals whoare or have been directors of Research Experience for Undergraduates (REU)programs. The purpose of the workshop is to examine REU programs as they haveexisted during the past 25 years and to do some strategic planning for thefuture. The proposal has been funded by NSA, and an organizing committeeconsisting of Joseph Gallian (Mathematics, U Minnesota, Duluth), Deborah Nolan(Statistics, UC Berkeley) and Herbert Medina (Mathematics, Loyola Maramount)has developed a program for the workshop. Invitations were sent to an initiallist of 37 individuals, 32 of whom have committed to attend the workshop, to beheld September 30 - October 3, 1999, in Crystal City, Virginia.

2I.7 AMS-MAA Project on Preparing Future Faculty in Mathematics (PFF). Att. #22. The funding for this project is provided by a National ScienceFoundation grant to the Association of American Colleges and Universities(AAC&U) and the Council of Graduate Schools. Awards of $10,000 per year fortwo years will be awarded to four doctorate-granting departments of mathematicsfor the development of a project involving other, non-doctorate grantinginstitutions, to prepare future mathematics faculty. A request for proposals was sent in January to chairs of U.S.doctorate-granting departments of mathematics, informing them of theavailability of awards through this project. Information was also posted onthe AMS and MAA Web sites. A copy of the request for proposals and theapplication form can be found in Att. #22. Application deadline was March 15,1999. The four successful departments have been notified.

2I.8 AAS-AMS-APS Public Service Award. The January 1999 AMS Council approved this joint award, as did thegoverning bodies of the American Astronomical Society and the American PhysicalSociety. A selection committee of two representatives from each society is nowbeing formed, with Felix Browder and Arthur Jaffe serving as AMSrepresentatives. The current plan is to present the first award in the fall of1999.MAY 1999 ECBT MINUTESPAGE 10

2I.9 AMS-MER Workshops on Professional Master's Degree Programs in Mathematics. The first of two workshops was held at the Courant Institute ofMathematical Sciences, November 5-7, 1998. Twenty-seven departments sentrepresentatives. A second workshop is planned for November 1999 at ArizonaState University. The continuation funding for the second year has beenawarded by the National Science Foundation.

2I.10 Sloan Nonacademic Careers Project. The video and CD-ROM produced under the Sloan-funded AMS-MAA-SIAMCareers Project are almost complete. A video and CD will be sent to eachdepartment of mathematics at four-year institutions. Two-year institutionswill be sent a video and CD upon request.

2I.11 Report on 1999 Annual Meeting of the American Association for the Advancement of Science (AAAS). Att. #23. Warren Page, Secretary of Section A (Mathematics) of AAAS, hassubmitted the attached report (#23) on the AMS-supported activities at therecent AAAS meeting.

2I.12 Report on December 1998 CSSP Meeting. Past President Jaffe gave a brief report on the December 1998 meetingof the Council of Scientific Society Presidents.

2I.13 AMS Centennial Fellowships for 1999-2000. The Centennial Fellowships Committee has announced fellowship awards toDr. Charles W. Rezk (Northwestern University)Dr. Bin Wang (Brown University)Dr. Changyou Wang (Loyola University of Chicago)Dr. Tonghai Yang (SUNY at Stony Brook). All have accepted. The amount of the 1999-2000 Fellowships is $38,000 each,with an expense allowance of $1,500 each.

2I.14 State of the AMS. Att. #18. Attached (#18) is the Executive Director's annual report to theCouncil, which was presented at the April 1999 Council meeting.

BOARD OF TRUSTEESACTION/DISCUSSION ITEMS

3.1 Discussion of Fiscal Reports. The BT received and discussed various fiscal reports. It was notedthat approval of the 2000 budget will be requested at the November 1999 ECBTmeeting. MAY 1999 ECBT MINUTES PAGE 11

3.2 Budgeted Staffing Levels. The BT received a report showing the budgeted full-time employees(FTEs) by division.

3.3 Capital Expenditures - 1999 Capital Purchase Plan. The BT received a report on the 1999 capital purchase plan.

3.3.1 Capital Expenditures - Approval of Specific Purchases. Requests for authorization to make specific large purchases (itemscosting $50,000 or more) are included under this item. No such requests weremade at this meeting.

3.4 Investment Committee Report. The Investment Committee met on May 7, 1999. The Chair of theInvestment Committee, John Franks, reported that the Committee discussed assetallocation, but decided not to make any changes.

3.5 Audit Committee Report. Att. #32. The Audit Committee met on May 7, 1999 to review drafts of the auditedfinancial statements. Michael Crandall, a member of the Audit Committee,reported that the auditors gave the AMS financial division, especiallyAssociate Executive Director Gary Brownell and Controller Connie Pass, an A+.The BT commended the finance staff for their great work. The audited financial statements for 1998 and 1997 are attached (#32).

3.6 Registration Fees for the January 19-22, 2000 Joint Mathematics Meetings in Washington, DC. Based on the information available at this meeting, the BT voted toadvise the AMS-MAA Joint Meetings Committee that the member pre-registrationfee for the Washington meeting be set at $160.

3.7 Summary of Requests for Program Development Fund Expenditures. The BT received a report summarizing requests made at the presentmeeting to authorize expenditures from the Program Development Fund during 1999and 2000.

3.8 Trustee Reports on Divisions. It was reported that the "annual reports" have been incorporated intothe operating plan, as a final section for each division, to be added after thecompletion of the year. This section (VI) of the 1998 operating plan was received by the BT andhas been added to the record copies of the 1998 operating plan (Att. #39 of theNovember 1997 ECBT minutes). Each Trustee reported on the Division(s) withwhich he or she has liaison. Overall, the Trustees were quite impressed withthe efficiency of the operation.MAY 1999 ECBT MINUTESPAGE 12

3.9 Meeting of MR, Inc. The AMS BT meeting adjourned. The AMS Trustees then convened as theBoard of Directors of MR, Inc. and elected the following officers: President of the Corporation: Michael G. Crandall Treasurer of the Corporation: John M. Franks Secretary of the Corporation: Roy L. Adler Directors of the Corporation: Felix E. Browder Linda Keen Andy R. Magid Donald E. McClure B. A. Taylor The meeting of the Board of Directors of MR, Inc. then adjourned, andthe meeting of the AMS BT reconvened.

3.10 Resolution for Retiree. The BT voted to move this item from the consent agenda (item 3C.2) tothe action/discussion agenda, and then approved the following resolution: Be it resolved that the Board of Trustees of the American Mathematical Society accept the retirement of H. Hope Daly with deep appreciation for her long record of faithful service. For more than 30 years Hope Daly has served the Society, and for almost a quarter century she has led one of the finest meetings departments in the world. To many members who regularly attend meetings, Hope is the face of the AMS. In that way, she has admirably represented the best dedication and devotion of all staff, thereby enabling the AMS to effectively serve its members and the greater mathematical community. The Trustees offer Hope their special thanks and heartfelt good wishes for a happy and well-deserved retirement.

BOARD OF TRUSTEESCONSENT ITEMS

3C.1 Trustees' Officers. The BT elected Andy Magid Chair of the Board, and Linda Keen Secretaryof the Board, for 2000.

3C.2 Resolution for Retiree. See item 3.10. MAY 1999 ECBT MINUTES PAGE 13

BOARD OF TRUSTEESINFORMATION ITEMS

3I.1 Short-term Investments. Att. #24. The BT received the attached report (#24).

3I.2 Economic Stabilization Fund (ESF) Increment. The 1998 increment to the Economic Stabilization Fund includesreinvested income of approximately $3,489,000 and a transfer from operations of$1,830,000.

3I.3 Year 2000 (Y2K) Project Update. The Society's Y2K readiness efforts are progressing steadily andconsiderable progress has been made to date. The Y2K project team hascompleted their analysis of potentially affected business and process systemsand has shifted its efforts toward internal testing, evaluation of key supplierreadiness, and contingency planning. The testing, implementation, and key vendor certification phase of thisproject should be completed no later than the second quarter of 1999. Thirdquarter activities will focus on contingency planning.

3I.4 Expenditures for Working Group on Public Awareness. During 1998, up to $5,000 was budgeted for projects conducted by theWorking Group. In December, $3,000 of these funds was used to purchase 1500copies of a bilingual booklet, "Drawbridge Up," by Hans Magnus Ezensberger.The booklet will be used in various ways for public relations, both inWashington and through the Providence office.

3I.5 Actions of the Executive Director. The Executive Director is authorized to change registration fees forconferences, short courses, and the employment register, and to make smallchanges in fringe benefits. No such changes have been made since the last ECBTmeeting.Respectfully submitted,Robert J. Daverman, SecretaryKnoxville, TennesseeMay 26, 1999