In 1974, the Board of Governors approved the conversion of Eric Palin Hall (Oakham House) to a campus centre. The Palin Hall Board of Management was to be responsible and accountable to the Ryerson Centre, reporting to them on a regular basis. (Ezyk to BOG Physical Planning Committee, 18Nov74) In 1975, negotiations between the Board's Physical Planning Committee and the Eric Palin Hall Board of Management began. On March 20, the Committee discussed the establishment of the Palin Hall Foundation, the corporation that would be responsible for the affairs of the centre (i.e., that would be its governing body). The Palin Hall Foundation was established by the Ryerson Board of Governors and the Ryerson Centre in 1976 and replaced the Eric Palin Hall Board of Management. Its object was "the provision, operation and maintenance of a building....for the use, recreation, refreshment and accommodation for students, faculty , staff and alumni of Ryerson, including the provision and facilities for the conduct of meetings, lectures and seminars having as their purpose the enlargement of the learning experience generally of all members of the Ryerson Community..." (Report of the Committee to Review the Development of Oakham House, Page 3, BOG Agenda, 24Jun85, Tab 3, Collection Record 220-37) From approximately 1977 to 1986, a management committee was responsible for the day-to-day operation of Oakham House and reported to the Board of Directors of the Palin Foundation. Undoubtedly as a result of the 1985 report to review Oakham House (see above), and further to negotiations between Ryerson and the Ryerson Centre, it was decided in 1986 that Oakham House would operate under new financial and management structures, including the reconstitution of the Board of Directors of the Palin Foundation into a Board of Stewards. The Board of Stewards became responsible for the fiscal, legal and program policies of Oakham House, which it formulated in consultation with the Institute. The master of Oakham House was delegated "responsibility for the day-to-day operations, including support for the societies, with accountability to the stewards." (Forum, 2may86) In July, 1996, control of the daily management of Oakham House was given to RYESAC, the student union, by the Palin Foundation. In exchange for operating control, RYESAC provided the Foundation with an interest-free loan to retire Oakham House's $150,000 debt. Because of a new emphasis on internal student activities as opposed to the rental of facilities to external groups, RYESAC also agreed to assume an anticipated annual operating debt of approximately $60,000. (EYEOPENER 4Sep96/NIGHT VIEWS Sep96) Over the years, the Palin Foundation has also been known as the Oakham Foundation. See the Group Histories for the Ryerson Centre and Oakham House for related information.