A study was conducted to isolate academic, financial, and social policy areas on which there was agreement/disagreement on the appropriate division of authority between college trustees and college presidents. Additional objectives were to examine the views of trustees and presidents concerning the policy and administrative aspects of these issues, and evolve recommendations for trustees and presidents that might aid them in the development of more cooperative working relationships. Responses to a 16-item questionnaire completed by 61 college and university board chairmen and 60 presidents indicate that trustees play a stronger role in institutional decisions in small private colleges with large boards and a lesser role in large public institutions with small boards, especially if the latter are community colleges or have a new president. The comments of respondents signify that conclusions about institutional factors affecting board-president relations must be set in a framework that considers personality and the need for mutual trust and respect between the board chairman and the president. (SW)