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-29-

[[underlined]] Original Budget     Projected Change to Budget [[/underlined]]

[[underlined]] Concessions and Parking [[/underlined]]
Income from food service contracts will more than offset lower parking receipts.

1,050,000     +18,000

[[underlined]] All Other Auxiliary Activities [[/underlined]]
Improved revenues are expected from the National Associate Program, reflecting the continuing generosity of the Contributing Membership. The Resident Associate Program is expected to do slightly better than budget while revenues from the Product Licensing Program are expected to fall behind.

420,000     +180,000

Total Unrestricted General Income     $19,700,000     +$4,859,000

At meetings on January 20 and April 24 of the Secretary's Management Committee, allocations from the projected, but as yet unrealized, surplus of approximately $4.9 million were approved. Primary among these were: $500,000 for additional awards under the Scholarly Studies Program; $500,000 for the proposed purchase of African art (presented for approval later in these papers); $198,000 for conversion of the 24"-diameter telescope at the Whipple Observatory into a 48"-diameter telescope; $126,000 for the 1985-86 Smithsonian Chamber Music Program; $93,000 to produce visitor guides and other public materials in the Office of Public Affairs; and $77,000 for fellowships at the National Air and Space Museum. It was also decided to establish a fund for micro-computer needs of the Institution; a survey is underway to assess the level of funding required. These increases to the fiscal year 1985 trust budget are in addition to the items noted at the January Regents' meeting for Visions magazine ($58,000 to cover salaries through May 31) and the Aditi Exhibition ($200,000 in additional exhibition costs). After accounting for these and a variety of smaller allocations, the net prospective addition to fund balance remains at approximately $3.3 million. Recommendations on the use or allocation of these funds will be made to the Board at the September meeting.