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     The Institution anticipates advancing unrestricted funds for expanded fundraising activities to be concluded by individual bureaus. The costs of raising money are expected to be recovered out of the anticipated donations, but in the event the bureaus are unsuccessful, general unrestricted funds may have to cover the expenditures. To date, two bureaus have plans approved by the Secretary for major campaigns, in line with the recommendations made by Cambridge Associates, Inc. Approximately $75,000 – $100,000 will be advanced to the Smithsonian Tropical Research Institute for the first year cost of a development officer, secretarial support and related travel expenses. An estimated $850,000 over the next four years will be advanced to the National Museum of African Art for a major acquisitions campaign. The firm of Brakeley, John Price Jones is being retained to assist with the campaign. The Board will be kept advised of the process of each of these projects, as well as of any other major development efforts.

The Institution is also committed to advance $200,000 for the Latin American Television Series now in initial preparation. $81,000 advance to [[underlined]]Visions[[/underlined]] Magazine in connection with its inaugural Martin Luther King Day issue awaits repayment.

     Unrestricted special purpose trust fund projections have been revised to reflect higher revenues from increased ticket prices for the National Air and Space Museum's Theater and Spacearium and the spend-out of funds carried forward at the end of last year. Current estimates of restricted purpose income and expenses are somewhat lower than budget, reflecting reduced fundraising expectations for the Folklife Festival, the Cooper-Hewitt Museum and the Museum of African Art. In addition,