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[[underlined]] FINANCIAL REPORT [[/underlined]]

Financial schedules A through H provide information on FY 1979 actual results as well as FY 1980 budget and revised projections and FY 1981 estimates. A comparative balance sheet is set forth on schedule I.

[[underlined]] FY 1979 - Actual (Schedule B) [[/underlined]]

Total net operating funds provided to the Institution (after expenses of auxiliary and bureau activities totaled $126,388,000, compared to $127,652,000 estimated at the September meeting. A decrease from federal agency grants and contracts was offset in part by increased Special Purpose fund revenues. Transfers from Unrestricted Funds for endowment and for South Quadrangle reserves were made in the amounts of $2,571,000 and $1,385,000 respectively. A full analysis of FY 1979 financial results is contained in the Financial Report which will be included in [[underlined]] Smithsonian Year [[/underlined]]; advance copies of this report are available to the Regents. 

[[underlined]] FY 1980 - Projection (Schedule D) [[/underlined]]

-- [[underlined]] Federal Appropriations: [[/underlined]] Fiscal Year 1980 Federal appropriations for the Institution were signed by the President on November 27, 1979. Prior to this date the Institution had been operating under a continuing resolution which restricted the Institution's spending to previous year's levels and prohibited the initiation of new programs. The following table reflects final Congressional action on our FY 1980 appropriations request: