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This report describes the activities and financial status of the Council on Library Resources (CLR) during the 1978-79 fiscal year. Contents include: listings of the members of CLR, its board of directors, the council committees and officers, and the council staff; an essay on CLR's 1978-79 year and its future; program highlights; a list of publications resulting from CLR-supported projects active in fiscal year 1979; a schedule of appropriations for CLR-administered projects; the opinion of independent accountants; and financial statements.