This report makes recommendations concerning the composition, structure and functioning of the Board of Trustees of Columbia University. It also reviews the responsibilities of the Trustees which include: (1) examining and affirming the purpose and goals of the University; (2) appointing the President; (3) developing new sources of financial support; (4) reviewing with the President the organization and structure of the University; (5) seeking, on a continuing basis, indicators of the quality of education at the University; (6) seeing that the University provides through the President an environment which facilitates learning; (7) concern for the impact of their decisions on relations with alumni; and (8) concern for the surrounding local community, and federal, state and city governments. The report recommends certain changes in the terms and selection of Trustees, the membership of certain committees, and the establishment of special committees empowered to act for the Trustees. (AF)