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[[underlined]]FINANCIAL REPORT[[/underlined]]

Miss Leven highlighted the following financial report. Mr. Jameson noted that an unfunded Federal requirement of approximately S7 million now exists, largely attributable to the two percent Congressional reduction and OMB's allowance of only one-half the cost of legislated pay raises. Cost-saving measures include the curtailment of hiring and purchasing throughout the Institution and the proposed elimination of summer evening hours. Concerned by the effect of such action on the visiting public, Congressional members of the Board will investigate the possibility of a supplemental appropriation to allow evening hours to be continued. In the absence of a supplemental, the Regents felt that action should be taken to retain evening hours in the National Air and Space Museum Building.

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[[underlined]]Report on Status of FY 1984, FY 1985 and FY 1986 Appropriated and Nonappropriated Funds[[/underlined]]

Schedules A through D summarize Institutional funds for fiscal years 1054 through 1986. Further detail is provided for auxiliary activities (Schedule E), unrestricted special purpose funds (Schedule F), and restricted funds (Schedule G). Trust fund comparative balance sheets are presented on Schedule H.

[[underlined]]FY 1984 — Actual (Schedule B)[[/underlined]]

Operating funds received by the Institution in fiscal year 1984 from all sources (net of expenses related to auxiliary and bureau activities) totaled $206,452,000, some $1.7 million higher than projected at the September Regents meeting. Auxiliary and bureau activity revenues accounted for the majority of this increase, due primarily to the