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VOTED that the Board of Regents approves the budget of nonappropriated funds for FY 1983 as presented, and authorities expenditures by the Secretary in accordance therewith' any material changes in program plans incorporated in the budget, together with any changes of more than 10% or $250,000 in any general unrestricted fund line item or in the total administrative expenditures, shall be made only with approval of the Board of Regents or its Executive Committee.

[[underlined]] FY 1984 - Budget (Schedule E) [[/underlined]]

Approval of the Regents was also requested for submission of the FY 1984 budget to the Office of Management and Budget.  As in prior years, this budget includes preliminary estimates for nonappropriated Trust funds, which will be subject to further review next spring.  The overall budget projects [[underlined]] gross [[/underlined]] operating revenue, both Federal and Trust, of $292,355,000 compared to $272,822,000 in FY 1983, and [[underlined]] net [[/underlined]] operating income, after auxiliary and bureau activity expenses, of $191,405,000, compared to $179,398,000 in FY 1983.  As in FY 1983, the major increase in net operating funds is expected to come from Federal appropriations, and a smaller increase from Federal agency grants and contracts.

-- [[underlined]] Federal Appropriations [[/underlined]]:  For FY 1984, the Institution's request to the Office of Management and Budget totals $178,653,000.  Excluding the one-time request in FY 1983 of $36.5 million for Quadrangle construction and the request for the Special Foreign Currency Program which will be considered by OMB apart from the Institution's funding target, the proposed budget for FY 1984 reflects an increase of $15.5 million above the FY 1983 request now pending before Congress.  Of the proposed increase, $9.5 million falls within the OMB target and $6 million is over target.  The following table summarizes the OMB request by appropriation account compared with the FY 1983 Congressional request:
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