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and the Director of the National Zoo reviewed the Parking Fund to determine the best use of these monies. The Parking Fund had a balance of $3.3 million as of the end of fiscal year 1986. This amount is supplemented by $250,000 - $300,000 each year from parking receipts (via a concessions agreement with the Friends of the National Zoo). The fund also receives interest income.

While there is no firm plan at present to construct a parking garage, the garage continues to be part of out-year thinking and is a listed project in the current Prospectus. The present availability of Metro, the seasonality of the need for excess capacity, and the estimated cost ($17.5 million), are factors to be considered. A modified or alternative approach to a single large parking garage originally included in the National Zoological Park's 1972 Master Plan deserves serious consideration.

The corpus of this fund, through the yearly addition of parking receipts, will continue to grow toward possible application to a garage facility. As it is strongly felt by Smithsonian administration and the Zoo's Director that the annual interest income (currently projected at approximately $250,000 for fiscal year 1987) should be used to enhance education and research at the National Zoological Park, it is the Institution's intention to use the interest income in this way beginning in the fourth quarter fiscal year 1987.

Congress has been informed of the Institution's current intentions. The Smithsonian had informed the Congress in testimony on the fiscal year 1974 budget that the fund would be used to help defray costs of constructing a parking facility. It should be noted that in fiscal year 1974 the Instituion had not yet established the policy of paying interest income on fund balance for certain categories of funds, so the ultimate disposition of the interest was not addressed.