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VOTED that the Board of Regents approves the budget of appropriated funds for fiscal year 1995 as signed into law by the President (Public Law 103-332), and authorizes expenditures by the secretary in accordance therewith; any material changes in program plans incorporated in this budget shall be made only with approval of the Board of Regents or its Executive Committee.

The chart below summarizes nonappropriated unrestricted Trust funds for fiscal year 1994 and 1995.

FY 1994-FY 1995 Nonappropriated Unrestricted Trust Funds Summary
($000s)

[[4 column table]]

Account | FY 1994 Actual | FY 1995 Budget | FY 1995 Projected

Gross Revenues |  221,849  |  237,313 |  236,932
Auxiliary Activity Expenses | 183,142 | 204,416 | 200,832
Net Revenues | 38,707 | 32,897 | 36,100
Total Expenses  | 38,463 | 36,461 | 36,937
Total Transfers Out (In) | (575)  | (125) | (125)
Surplus (Deficit)  | 819  | (3,439) | (712)

[[/4 column table]]

With the approval of the Chairman of the Regents' Executive Committee, the sale of Secretary Adams' house was completed. Net proceeds from the sale of $640,300 have been placed in an interest-bearing plant fund, which, with growth over the years, should enable the purchase of a comparable property as needed.

The following table reflects the Smithsonian's fiscal 1996 request to the Office of Management and Budget and the request to Congress (to be submitted in February 1995). The Institution will formulate the fiscal 1996 Trust fund budget in mid-1995 for approval by the Regents at the September 1995 meeting.

FY 1996 Federal Request Summary

($000s)
[[3 column table]]

Account | Request to OMB | Request to Congress

Salaries and Expenses  |  350,860 |  329,800
Repair and Restoration  |  40,000  |  34,000
Zoo Construction  | 10,500  |  4,950
Construction |  20,200  |  38,700
    
Total  |  421,560  | 407,450

[[/3 column table]]

Patricia C. Dodge designated the Smithsonian Institute as the remainderman of her Charitable Remainder Unitrust. Upon her death in 1994, the principal of the Trust was transferred to the Institution. Accordingly, the following motion was approved:

Transcription Notes:
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