Viewing page 44 of 119

This transcription has been completed. Contact us with corrections.

-27-

[[underlined]] FINANCIAL REPORT [[/underlined]]

Miss Leven began the Financial Report by advising that a significant drop in summer visitation to the Mall, a phenomenon noted by other Washington tourist and cultural attractions, has adversely impacted Smithsonian museum shop and restaurant revenues. The scheduled payments for the Air and Space Museum Terrace Restaurant will be met and fiscal year 1989 trust funds will be closed out in balance, as planned; however, the projections of trust fund revenues for 1990 and 1991 will need to be revised downward to reflect more realistic expectations.

Mr. Jameson added that virtually all Federal appropriations for 1989 will be obligated by the end of the fiscal year. He then drew the Regents' attention to the major items of appeal to the House-Senate conference committee on the 1990 appropriations (particularly funding for the National Museum of the American Indian, planning for the renovation of the Old General Post Office building, and the construction of a research vessel for the Smithsonian Tropical Research Institute) and to the anticipated $6.6 million increase in the Repair and Restoration account. For fiscal year 1991, he noted, the Smithsonian is taking a more aggressive approach in its request to the Office of Management and Budget, with emphasis on realistic estimates of what is required to correct deficiencies in such infrastructure categories as scientific equipment, automation, collections management, and plant maintenance and security. He also highlighted the capital budget request, which includes the renovation of the Old General Post Office building, additional planning for the National Museum of the American Indian, the planning of the National Air and Space Museum extension, and the initial phase of renovation of the National Museum of Natural History.