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-55- Mr. Ripley even expressed hope that the momentum of current efforts will enable further funds to be raised to endow programs and activities associated with the Quadrangle. The fund-raising will not, however, be completed before the date by which it is proposed to advertise and award construction contracts. Assuming appropriation of the full $36.5 million of Federal funds for the project this fall, it should be possible to let the principal construction contract by the end of March 1983, and break ground within 30 days thereafter, with construction completion some thirty months later. Adherence to this schedule will be required in order to remain within the $75 million budget, since it has been estimated that each month of delay could escalate costs by approximately $500,000. Before a construction contract can be let against appropriated funds, however, the Congressional Committees must be provided with a certification by the Regents. While the Regents fully anticipated that funds not presently in hand or committed from Institutional resources will be raised with the combined efforts of themselves, the National Board of Smithsonian Associates, Brakeley, John Price Jones, Inc., and Smithsonian staff, the Regents discussed various sources of trust funds, including planned future year transfers to endowment, which could total up to $10 million and serve as a back-up or "safety net" to fund raising efforts without program impairment. With such a safety net in place, it was felt the Regents could prudently assure the Congress of meeting the full non-federal commitment and authorise commencement of construction. It was agreed further that every effort should be made to replace any funds derived from a safety net with funds raised from non-Smithsonian sources.