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-ii- -- [[underlined]]Chart 3[[/underlined]] - Application of General Unrestricted Trust Funds Net Income: reserve for possible tax liability; increased program allotments, administrative costs; $1 million assumption of previously Federal expenses; transfers to plant, endowment, and special program of collection acquisition, research, and educational outreach; increase in fund balance. -- [[underlined]]Charts 4-9, Inclusive[[/underlined]] - Endowment Funds: growth has been mostly in unrestricted-purpose funds; growth of the total Endowment Funds has barely kept pace with rise in Consumer Price Index; income from restricted endowments is important to these funds; income from unrestricted endowments is small; total Endowment Funds are small in relation to the Institution's operating expenditures. A goal of $50 million in not deemed excessive, and it is suggested that the Endowment Fund should be built up and conserved as much as possible. The financial report referred to Schedules A through G. --Fiscal Year 1978: Gross ($168.5 million) and net ($124.9 million) incomes $1.75 million higher than projected, due mostly to better than budget returns from auxillary activities; funds set aside for the future of the acquisition program, tax reserve, and endowment funds. --Fiscal Year 1979 Federal Appropriations: adjusted to include supplemental $650,000 for six months' operation and renovation expenses for the Museum of African Art; an additional $2,316,000 pay supplemental request; assumption by the Institution of $1,020,000 formerly Federal expenses. --Fiscal year 1979 Non-appropriated trust funds: estimated income appears to be somewhat conservative, but net likely to be well below FY 1978; changes in schedule C reflect shifts in trust fund expenditures and transfers without adjusting overall income and expenditures for FY 1979. --Fiscal Year 1980 (Schedule D): No significant changes in non-appropriated trust fund projections; OMB allowances total $144.9 million (vs. $152.4 requested), including major increases associated with the Museum of African Art, Panama Treaty-related expenses, necessary pay and utilities, and construction projects (particularity the Museum Support Center, the Zoo and planning for the development of the quadrangle in the South Garden). A transfer of $50,000, and unrestricted bequest, to Endowment Funds was approved: VOTED that the Board of Regents approves the establishment of an Unrestricted Purpose Quasi-Endowment to be known as the Carrie Susan Hinton Endowment, to be funded by the generous bequest of Mrs. Hinton to the Institution.