The AAEA Executive Board convened at 1:00 pm Tuesday, May 5, 1998 via conference call.

1. The minutes of the February board meeting were approved as printed.

2. Armbruster reported that the committee appointed to study and make changes to the awards program has met and is developing a report. He has informed the chair, Julie Caswell, that the Board increased the budget for awards.

   Armbruster reported that he will be making appointments to a committee to develop a plan for the newsletter/web. Suggestions of names to serve on this committee should be submitted to Armbruster by May 22nd.

3. Parliament reported for the RAE editor search committee. Gail Cramer, University of Arkansas was recommended by the committee. Board members familiar with Gail's work expressed confidence in Cramer's ability to fulfill board expectations for the RAE.

   MOTION: Skees moved to approve Cramer as editor of the RAE for 1999-2001. Offutt seconded. Motion carried.

   Armbruster will contact Cramer to inform him of the Boards decision. He will also communicate the boards views on the role of RAE in the profession, ask for more details on expected secretarial support and on his administrative arrangements with the associate editors.

4. Nancy Herselius presented an update on the proposed sites for the 2002 Annual Meeting.

   MOTION: Buccola moved to accept Long Beach, California as the site of the Annual Meeting in 2002. Parliament seconded. Motion carried.

5. Penn presented a progress report for the committee assigned to study outsourcing options for producing the AAEA journals. The committee has been gathering information in order to develop a range of cost estimates for a range of services. The committee recommended to Armbruster that he instruct the Business Office to undertake a full-scale exploration with publishers, determine the best financial services package that is available, and have a report for the fall Board meeting. They also recommend a special subcommittee to evaluate the demand among the membership for access to an electronic version of the journals and to establish criteria by which to judge the various alternatives available. Armbruster will appoint a sub committee ASAP.

6. Penn updated the board on progress by the investment policy committee. The committee is considering the feasibility of employing an outside manager for the Association and Foundation funds. Gary Seevers, AAEA Foundation President, is chair of the committee. A meeting will take place in Washington later this month to meet with various fund managers. The committee plans to bring a recommendation(s) for consideration by both boards at Salt Lake City.

7. The summer board meeting will begin at 8 a.m. on Friday July 31 and end at noon on Saturday, August 1. An orientation session for new board members will be held on Thursday afternoon from 3-6 p.m. The fall board meeting is scheduled for November 6-7 with the location to be determined. Shumway will work with the Business Office on selecting a location. Any suggestions for location should be submitted to Shumway within the week.

8. Buse and Christoffers reported that AJAE publication will be back on schedule with the August 1998 issue.

9. The board discussed a letter from Vincent Smith, Chair, Economic Statistics and Information Resources Committee, requesting that AAEA appoint a task force to review recent reductions in USDA/ERS resource allocations to commodity situation and outlook work.

   MOTION: Skees moved to create a task force to address the proposed reductions in USDA/ERS resources to commodity situation and outlook work. Parliament seconded. Motion failed. Offutt abstained.

   The Board instructed Armbruster to request that Smith's committee join with Offutt and ERS to develop and implement a plan for informing and involving the membership on data availability issues through a symposium at the Salt Lake City meeting.

The meeting was adjourned at 2:15 p.m.

Respectfully submitted,

Rueben C. Buse
Executive Secretary
May 5, 1998