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reserve ($4.1 million), unexpended balances from the fellowship and collection acquisition, scholarly studies and educational outreach programs ($4.5 million), NASM film replacement fund ($2.1 million), and the Zoo parking facility reserve ($900,000). If any of these funds are expended more rapidly than expected, or if taxes are determined to be due, the special Purpose fund balance will be substantially less than currently expected. Restricted Fund balances are projected to remain relatively stable. 

In FY 1981, revenues from [[underlined]] Federal Agency Grants and Contracts [[/underlined]] are expected to increase by over $2.7 million to a level of $15.4 million. This increase is based on a major X-ray flight experiment on the space shuttle that Smithsonian Astrophysical Observatory expects to conduct with funds provided by NASA.

[[underlined]] Regents Budget Approval [[/underlined]] 

Approval of the Regents was requested for submission of the 1981 appropriation budget to the Office of Management and Budget, together with the budget projection for FY 1981 Non-appropriated Trust Funds, and the Board approved the following motion:

VOTED that the Board of Regents approves the Smithsonian Institution Budget for FY 1981 for presentation to the Office of Management and Budget in September 1979.