Highlights of the Council's activities during the year are briefly reviewed, and the current board of directors, committee members, officers, and staff members are listed. Areas covered include (1) the national and international scene, including the Council's work towards a national periodicals center, promotional efforts for national bibliographic control, involvement in two automated projects--CONSER and COMARC--that came to a close during the fiscal year, activities associated with the development of library networks and library standards, and cooperative international endeavors; (2) planning for institutional change, including programs/projects in library management, services, needs, and collections; (3) professional development, i.e., various intern and fellowship programs; and (4) a look at the year ahead, particularly in bibliographic control, collection building, library management, professional education, and analysis and planning. The report concludes with a list of publications that resulted from Council-supported programs and fellowships, financial statements for projects active in fiscal 1978 (unaudited), a schedule of appropriations for Council-administered projects, and other budgetary data. (JD)