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($000's)
[[4 column table]]

Appropriation Account | FY 1993 Request to OMB | FY 1993 OMB Passback | FY 1993 Request to Congress

Salaries & Expense | $377,441 | $311,000 | $311,000
Zoo Construction | 15,948 | 7,900 | 7,900
Repair & Restoration | 36,500 | 24,400 | 24,400
Construction | 79,550 | 21,400 | 21,400
Total Smithsonian | $509,439 | $364,700 | $364,700
[[/table]]

Formulation of the fiscal year 1993 General Unrestricted Trust Fund budget is currently under way. The Institution is identifying reductions to eliminate the deficit and also to replace any one-time reductions taken in fiscal year 1992. Based on preliminary estimates, the fiscal year 1993 target of a "break-even" budget will require reductions of approximately $10.4 million. The proposed Trust budget will be formulated for presentation to the Regents at their September meeting.

The Regents approved the following motions:

VOTED that the Board of Regents authorizes the Secretary to establish, as part of the Institution's endowment funds, an unrestricted fund to be known as the Alice I. Winterer Endowment Fund and to authorize the transfer of the unrestricted monies identified for this purpose.

VOTED that the Board of Regents authorizes the Secretary to establish, as part of the Institution's endowment funds, a true restricted fund to be known as the National Museum of the American Indian Educational Endowment Fund and to authorize funds identified for this purpose to be raised.

INDIRECT COST (OVERHEAD) INITIATIVES ON FEDERAL GRANTS AND CONTRACTS

The Institution has taken several steps in response to the heightened level of scrutiny by Congress, the public, and cognizant government agencies with regard to unallowable, unreasonable, or unallocable costs being charged to Federal grants and contracts. Initiatives based on recommendations from Coopers & Lybrand, which assessed the Institution's vulnerability to disallowances, have been discussed with the Regents' Audit and Review Committee. A steering committee under the Assistant Secretary for Finance and Administration will monitor progress on all indirect cost initiatives.