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Cooper-Hewitt membership program.  Special purpose fund expenditures will decline substantially due to the nonrecurrence of this year's major collections purchases. 

Income to [[underlined]] Restricted [[/underlined]] Trust Funds will be somewhat higher in FY 1981 than the current year due to: (1) increased endowment income payout under total return (+10%) as approved by the Board last May, offset by lower interest on fund balances, and (2) increased revenues from the Freer and Archives of American Art revenue-generating activities.  Adjusting for the reimbursement to the Harbor Branch Foundation referred to above, FY 1981 expenditures will be higher than in FY 1980 reflecting the costs of grants to bureaus for specific projects (such as the Clockwork Universe exhibit at NHHT, and a SITES exhibition on the Renaissance of Islam) as well as expenditures by the Hirshhorn Museum for collections acquisitions, matching awards from the central program.  Increased support from [[underlined]] Federal Agency Grants and Contracts [[/underlined]] is expected in FY 1981, primarily for research at the Smithsonian Astrophysical Observatory, funded by NASA, as well as projects at the CBCES.

[[underlined]] Regents FY 1981 Budget Approval [[/underlined]]

The approval of the Regents is requested for the FY 1981 appropriated and non-appropriated trust fund budgets as outlined in the attached schedules.  The following motions were passed:

VOTED that the Board of Regents approves the revised budget of appropriated funds for fiscal year 1981 and authorizes the Secretary to expend fiscal year 1981 federal appropriations in accordance therewith and as approved by the President on [[blank line]], P. L. [[blank line]].