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-iv- [[underlined]] Five-Year Prospectus, FY 1984-88 [[/underlined]] Mr. Jameson introduced the current [[underlined]] Prospectus [[/underlined]] by summarizing the process over the last four years and comparing actual developments with those anticipated. He noted success in collections management, acquisition of new facilities for research and public use, publications, museum security, and development of the trust fund endowment, adding that less success was realized in building support for basic research, a priority of the current [[underlined]] Prospectus, FY 1984-1988. [[/underlined]] Actual expenditures for Fiscal Years 1983 and 1984 will be somewhat higher than anticipated four years ago. Looking ahead, overall expenditures will increase from about $305 million in Fiscal Year 1984 to about $436 million in Fiscal Year 1988, with major increases attributable to the Quadrangle programs, legislated pay raises, higher costs of current trust fund activities, and the maintenance of facilities. Mr. Jameson also briefed the Regents on projected Quadrangle operating costs, noting that operations will be heavily trust funded but will required new Federal funding for museum functions, maintenance, protection, and utilities, as well as one-time expenses for equipping and installation. The [[underlined]] Five-Year Prospectus, FY 1984-1988, [[/underlined]] first presented in draft in September, now incorporates the results of action on the Fiscal Year 1983 appropriation and the OMB allowances on the Fiscal Year 1984 budget. After discussion, it was VOTED that the Board of Regents approves the Five-Year Prospectus dated January 24, 1983, covering the fiscal years 1984 to 1988, anticipating that annual revisions will similarly be presented for its approval. [[underlined]] Quadrangle [[/underlined]] [[underlined]] Design Status: [[/underlined]] On November 10, 1982 the Commission of Fine Arts approved proposed granite finished and temporarily withheld approval of the landscape design pending resolution of one or two plant specimen selections. Final plans and specifications should be available about February 1, 1983. Pre-construction site clearance is underway, and contracts have been awarded for construction fence and utility relocation, with all work to be completed before construction commences. [[underlined]] Fund-Raising Efforts: [[/underlined]] The October 2, 1982 Continuing Resolution contained an appropriation of $36.5 million for Quadrangle construction, and in accordance with the Regents' resolution of September 20, 1982 the Chancellor has certified on behalf of the Board that trust funds are available for construction. The appropriation stimulated intensified fund-raising, and as of January 4, 1983 $28,587,000 had been raised or committed toward the $37.5 million goal. The campaign continues to focus on individuals of greatest gift potential, and will broaden to approach corporate sources, where the National Board of Smithsonian Associates can continue in its seminal role. The February [[underlined]] Smithsonian [[/underlined]] features an article on the Quadrangle which will reinforce a direct-mail appeal to all Associates. Foreign gifts are still being solicited in the Middle East and Southeast Asia, and attempts will be made to reach businesses with interests in Africa.
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