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Restricted grant support for the Cooper-Hewitt Museum and the Smithsonian Tropical Research Institute accounted for much of the remaining $500,000 increase to trust funds. Fiscal year 1985 federal funds were in line with budget. Of total federal operating support in the Salaries and Expenses account of $164,321,000, the Institution returned to the U.S. Treasury an unobligated balance of $173,000.

Coopers and Lybrand is now completing the audit of the Institution's fiscal year 1985 financials. Their report will be included in [[underlined]] Smithsonian Year 1985. [[/underlined]]

[[underlined]] Fiscal Year 1986 - Budget and Projection (Schedules B & C)

-- Federal Appropriations: [[/underlined]] On December 19th, the President signed into law (P.L. 99-190) the Continuing Resolution that will provide funding for the remaining portion of fiscal year 1986. The funding levels for the Smithsonian were determined by the Conferees by reconciling the House and Senate recommendations on the Institution's fiscal year 1986 request and imposing a 0.6 percent across-the-board reduction to each line item in the Interior bill.

These appropriated amounts, as shown below, do not reflect the effects of the Balanced Budget and Emergency Deficit Control Act of 1985 (P.L. 99-177, the Gramm-Rudman legislation). This Act requires that fiscal year 1986 outlays of the federal government must be reduced by $11.7 billion, of which a portion must be taken by the President on a uniform percentage basis by the nondefense agencies. Subsequent action by the General Accounting Office or the Congress could modify the reductions.