Viewing page 8 of 143

This transcription has been completed. Contact us with corrections.

-vii-

The following motion was approved:

VOTED that the Board of Regents approves the budget of appropriated funds for fiscal year 1988 as finally approved by the President and the budget of the nonappropriated funds for fiscal year 1988 as presented, and authorizes expenditures by the Secretary in accordance therewith; any material changes in program plans incorporated in these budgets, or any changes of more than $250,000 in any general unrestricted trust fund program or administrative expenditure, shall be made only with approval of the Board of Regents or its Executive Committee.

Approval of the Regents was requested for submission of the fiscal year 1989 Federal budget request to the Office of Management and Budget. Approval was also sought for the fiscal year 1989 Trust fund budget. The overall budget includes gross operating income of $456,347,000 compared to $425,456,000 in fiscal year 1988, an increase of 7%. The Trust and Federal operating budgets are $236,680,000 and $219,667,000 respectively. Net operating income, after deduction of auxiliary and bureau activity expenses, is expected to increase by $16,762,000 or 6% to a total of $294,187,000 million. The breakdown between spendable Trust and Federal funds is $74,520,000 and $219,667,000 respectively. Federal appropriations would be the primary dollar component of this increase ($14.8 million). 

The Institution's Federal request to the Office of Management and Budget for fiscal year 1989 totals $272,467,000. The following table summarizes the proposed budget by appropriation account:

(000's) 
[[3 column table]] 
[[headings are underlined]]

[[Account]] | FY 1988 Request to Congress | FY 1989 Proposed Request to OMB 

Salaries and Expenses | $204,862 | $219,667
Construction: 
-Whipple Observatory | 4,470 | -
-Tropical Research Institute | - | 2,900
-General Post Office Building | - | 3,000
-Construction Planning and Design | - | 1,300
Zoo Construction | 5,150 | 5,600
Restoration & Renovation of Buildings | [[underlined]]14,254 | 40,000[[/underlined]]
Total | $228,736 | $272,467
[[/table]]

Of the $14.8 million increase proposed in the Salaries and Expenses account, $5.9 million covers inflationary costs in utilities, pay, rent and other expenses including the increased costs for the new Federal Employees Retirement System. The remaining $8.9 plus $.3 million in funds available for redirection will provide $9.2 million in program growth of which $4.2 million falls within the OMB target for fiscal year