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The passback allowed $24.4 million in the Repair and Renovation account. In the National Zoological Park Construction account, the passback provides $7.9 million to continue with the highest priority projects in their master plan.

Formulation of the fiscal year 1993 General Unrestricted Trust Fund budget will occur during 1992. The Institution does not expect unrestricted revenue levels to improve significantly. Therefore, in formulating the fiscal year 1993 General Unrestricted Trust Fund budget, the Institution must identify reductions to eliminate the deficit and also to replace any one-time reductions taken in fiscal year 1992.

Endowments

The donation of $100,000 to the National Museum of Natural History to support special projects in arctic research has suggested the establishment of a new endowment fund, and it was

VOTED that the Board of Regents authorizes the Secretary to establish, as part of the Institution's Endowment funds, a quasi-restricted fund to be known as the Robert Bateman Endowment Fund and to authorize the transfer of the monies identified for this purpose.

FIVE-YEAR PROSPECTUS, FISCAL YEARS 1993-1997

The content of the Prospectus has not changed in any substantive way since the September draft. The Prospectus highlights the Institution's extensive backlog of programmatic infrastructure requirements in the chapter "Stewardship of the Public Trust." These requirements continue to receive attention as the principal area needing operating support in future years. Other program chapters emphasize the Institution's global environmental research, cultural pluralism, and education. A chapter on capital outlays details construction projects and facility repair and restoration. The continued facility and program development for the National Museum of the American Indian also receives major emphasis in the five-year plan.

Federal Salaries and Expenses, incorporating expected changes to legislated pay scales and adjustments for inflation, are projected by the Institution as $435 million in fiscal year 1997. The projections contain virtually no new program growth except for the National Museum of the American Indian, for which operating projections are preliminary. Otherwise, Institutional projections reflect the estimated cost increases associated with eliminating the infrastructure backlog and expected legislated pay actions and inflation.

Trust fund projections for future years remain conservative, with net revenues from unrestricted operations growing moderately. The projected requirements, shown as $332 million for fiscal year 1997 in the following table, result from growth associated with auxiliary, membership, and development activities. The Institution remains cautiously optimistic about performance of the Smithsonian magazine, Smithsonian Institution Press, museum shops, mail order division, and concession operations, and the national