The 1986 annual report of the Council on Library Resources (CLR) reviews activity over the previous 10 years and provides a full record for the 12 months ending June 30, 1986, focusing on the program components of research, collaborative ventures to support operations and expand service capabilities, and the profession of librarianship. Preliminary materials include lists of members of the council and of the board of directors, council committees and officers, and council staff and consultants; and a memorial tribute to Fred Carrington Cole. A review of the Council's third decade includes a list of funding foundations and summarizes the activities of the past 10 years in the following areas: Bibliographic Services; International Activities; Library Management and Services; Professional Education; Preservation; Access to Information; Economics and Funding of Research Libraries; and the Research Program. Grant, Contract, and Project Expenses by Program Area for 1977-1986 are presented in an annotated graph. The primary areas of activity for 1985-1986 are reported in sections on: Research Activities, Library Operations, and Librarianship and Librarians. Appended materials include lists of program committees and project participants; a list of publications resulting from CLR-supported programs; program guidelines and grant application procedures; and financial statements. (KM)