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As previously projected, the transfer for Quadrangle construction will increase from $1 million in FY 1982 to $1.5 million in FY 1983, and support for the Fellowship Program will increase by $97,000.

[[underlined]] Special Purpose Trust Funds [[/underlined]] include: (a) bureau activities such as the NASM theatre, and membership programs of the Cooper-Hewitt Museum; (b) bureau discretionary funds derived from revenue-sharing transfers from central auxiliary activities, interest on fund balances, zoo parking revenues (held in reserve for future construction of a parking facility) and other miscellaneous income; and (c) unrestricted fund transfers designated for the Fellowship Program, the Collections Acquisition, Scholarly Studies and Educational Outreach Program, Fluid Research and Smithson Society awards.  The overall revenue and expenditure levels in FY 1983 will remain approximately the same as projected for FY 1982.

In addition to the transfers above from unrestricted general funds, the FY 1983 budget includes a $250,000 transfer from plant funds to special purpose funds.  With the approval of the Chairman of the Executive Committee, the Institution has signed a contract for the sale of the Belmont Conference Center and 82 surrounding acres to the American Chemical Society.  Together with proceeds from the sale of the remaining 270 acres to the State of Maryland, the Institution will realize approximately $2 million, of which $1,750,000 is committed to the construction of the Museum Support Center.  With the approval of the Regents, this budget proposes that the balance be transferred to special purpose funds to establish the James E. Webb Fellowship Fund.  Interest paid on the unexpended fund balance is projected to make available $25,000 for this program in FY 1983; as further monies are identified for this fund, it can be established as an endowment, with a lower rate of income but the anticipation of growth.