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VOTED that the Secretary is authorized to establish, as part of the Institution's endowment funds, a quasi-unrestricted designated fund to be known as the Smithsonian Press Scholarly Books Fund and that the transfer of unrestricted monies identified for the purpose is authorized. 

Since operating experience for the first two months of the fiscal year is insufficient to be indicative of annual performance, projections remain the same as budgeted. However, certain events have occurred which will ultimately impact the budget, including the discontinuation of the capital campaign for the National Museum of African Art and receipt of a legal settlement resulting from an oil spill at the Smithsonian Tropical Research Institute. In the latter context it was 

VOTED that the Secretary is authorized to establish, as part of the Institution's endowment funds, a quasi-unrestricted designated fund to be known as the Smithsonian Tropical Research Institute Endowment and that the transfer of unrestricted monies identified for the purpose is authorized. 

[[underlined]] Fiscal Year 1989 - Budget [[/underlined]]

The fiscal year 1989 Trust and Federal budgets remain the same as approved by the Regents at the September meeting. The Institution, however, has just received the Office of Management and Budget allowance for the Federal budget. Establishing the basis for subsequent submission of the fiscal year 1989 appropriations request to Congress, the allowance includes $215,484,000 in Salaries and Expenses ($4,183,000 less than requested), $5,305,000 in the Zoo Construction account ($295,000 below the request), $24,765,000 in the Restoration and Renovation account ($15,235,000 less than requested), and $7,200,000 in the Construction account. 

[[underlined]] FIVE-YEAR PROSPECTUS, FISCAL YEARS 1989-1993 [[/underlined]]

The timing of the receipt of the fiscal year 1989 budget allowances from the Office of Management and Budget and the need to prepare the fiscal year 1989 submission to Congress by February 16 have delayed an update of the draft [[underlined]] Five-Year Prospectus, Fiscal Years 1989-1993 [[/underlined]] that was distributed to the Board of Regents last September. The complete [[underlined]] Prospectus [[/underlined]] is expected to be ready for the consideration of the Executive Committee in mid-February, to be followed by distribution to the Congress and the Office of Management and Budget. Accordingly, with the understanding that the Executive Committee of the Board of Regents will review and approve the [[underlined]] Prospectus [[/underlined]] for submission to Congress, it was