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[[underlined]] FY 1979 - Projection (Schedule C) [[/underlined]]

-- [[underlined]] Federal Appropriations [[/underlined]]: The FY 1979 Supplemental Appropriation was enacted on July 25, 1979, providing the Institution $1.9 million, compared to a request of $2,966,000. Approved were $1.7 million for legislated pay increases ($2,316,000 requested) and $200,000 for Museum of African Art salaries and expenses ($350,000 requested). A request of $300,000 for necessary renovation and repairs to the Museum of African Art buildings was denied, but the House Appropriations Committee has added $350,000 to the FY 1980 bill for this purpose. The pay supplemental shortfall, coupled with an anticipated utilities deficit of $1.0 million, will be covered by savings from vacant positions and by delay of the purchase of non-critical supplies and equipment.

-- [[underlined]] Nonappropriated Trust Funds [[/underlined]]: Based on the operating results of July and August, Mr. Hohenlohe reported that current projections for [[underlined]] Unrestricted Trust Funds [[/underlined]] were even more favorable than those previously circulated to the Regents in advance of the meeting (as displayed on the attached schedules). The projected net gain for this fiscal year for Unrestricted Trust Funds, after previously approved Transfers to Plant and Endowment Funds, is now estimated to be $1,800,000, or almost $400,000 higher than projected at the May Regents meeting. The increase is due primarily to operations of the Magazine, now estimated to gain $6,750,000 for the year.