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purposes such as temporary payments for insurance and storage on the Hirschhorn Collection, increased allotments for special research projects and the financing of Cooper-Hewitt fund raising efforts.

[[underline]] Budget for FY 1975 (Exhibit B, 1st column) [[/underline]]

While there are still a number of important unknown factors which can affect our private unrestricted fund results in the next fiscal year, we are tentatively budgeting a surplus of about the same amount as that being realized currently. Magazine income is being projected at the same $1,200,000 level as this year because of the possibility that a down-turn in advertising revenues may off-set expected higher subscription income. Further gains are expected in investment income, but lower estimates are being conservatively used for the Associates Programs, both National and Resident. Museum Shops' income should definitely be higher, particularly with the opening of the Hirschhorn Museum Shop and the very attractive improvements planned for the Museum of History & Technology Shop. It is expected that a policy of sharing perhaps half of the Museum Shop profits with the Bureaus in which they are located will be started this year to aid the Bureaus in specific projects such as collection purchases. Some expansion of support for special research projects, for the Cooper-Hewitt Museum and for the Chesapeake Bay Center to meet present land acquisition commitments has been allowed for, accounting for the further rise in expenditures under Special Purpose Allotments.