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(4) Due to increased support for the Smithsonian Astrophysical Observatory, primarily from NASA, total Federal Grants and Contracts will be $12.5 million ($11.9 million budget).

In addition, reinvestment of restricted endowment income into principal has been increased by $200,000 in order to include a transfer of Ft. Pierce income originally planned for FY 1978.

The Board approved the proposed budget amendments to the FY 1979 Trust Fund Budget, namely, (1) transfer of $1,250,000 to a reserve fund for engineering, planning and design work on the South Quadrangle; (2) transfer of an additional amount of up to $500,000 to Unrestricted Endowment, provided that a lesser amount would be transferred, depending on month-end projections, and (3) redesignation of a $325,000 reserve originally approved for purchase of the Murray property into a general Chesapeake Bay Center for Environmental Studies Land Acquisition Fund, if the Murray property is not purchased by the Institution.