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28

Exhibit B

Smithsonian Institution
[[underline]]Financial Projection - Fiscal Years 1975 & 1976[[/underline]]

($1,000's)

[[underline]] Changes in Funds and Cash Balances [[/underline]]
[[6-column table]]
[[double line]]
 | | [[span 3 columns]]FY 1975[[/span 3 columns] | 
 | Actual  | Actual   | [[span 2 columns]]Proj'd.[[span 2 columns]] | Proj'd. 
 | FY 1974 | 1st 6 Mo | 2d 6 Mo | Total | FY 1976
[[line]]
Changes in Fund Balances - Increase (Decrease) | | | | |
| | | | |
[[underline]]CURRENT UNRESTRICTED FUNDS[[/underline]] | | | | |
  Income from Operations | $ 1,790* | $ 1,056 | $ 1,044 | $2,100 | $ 2,500
| | | | |
[[underline]]PLANT FUNDS[[/underline]] (Expenditures]] | | | | |
  West Court | - | - | (1,500) | (1,500) | (400)
  Museum Shops - MHT | (57) | (52) | (318) | (370) | - 
    JHH | - | (18) | - | (18) | - 
    MNH | - | - | - | - | (500)
    NASM | - | - | - | - | (100)
  CBCES - Land | (73) | (71) | (61) | (132) | (75)
    Building | (24) | (147) | (41) | (188) | - 
  Cooper-Hewitt Renovation | 98 | (259) | (441) | (700) | (600)
 | [[line]]
      Total Plant Expenditures | (56) | (547) | (2,361) | (2,908) | (1,675)
| | | | |
[[underline]]RESTRICTED FUNDS[[/underline]] | 487 | (128) | 593 | 465 | (653)
| | | | |
[[underline]]AGENCY FUNDS[[/underline]] | 92 | - | 208 | 208 | (175)
 | [[line]]
      Total Changes in Fund Balances | $ 2,313 | $ 381 | $ (516) | $ (135) | $ (3)
[[double line]]
| | | | |
| | | | |
Changes in Cash - Increase (Decrease): | | | | |
| | | | |
[[underline]]BALANCE SHEET ITEMS[[/underline]] | | | | |
  Magazine - Deferred Subscrip. Income | $ 899 | $1,700 | $ 454 | $2,154 | $ 200
    -Accts Receivable: Subscrip. & Adv. | (486) | (547) | 743 | 196 | (75)
    -Accts Payable & Def. Promo. Exp. | [[underline]](439)[[/underline]] | [[underline]] (456)[[/underline]] | [[underline]] 414[[/underline]] | [[underline]] (42)[[/underline]] | [[underline]](175)[[/underline]]
       Total Magazine | (26) | 697 | 1,611 | 2,308 | (50)
  Inventories | (178) | 5 | (95) | (90) | (130)
  Accts. Receivable-Grants & Contracts | (1,199) | 309 | (248) | 61 | (200)
    -Other | 6 | (443) | (64) | (507) | 65
  Accounts Payable - Sea Tragedy | - | - | - | - | (450)
  All Other Changes - Net 1,246 | (739) | 865 | 126 | 338
 | [[line]]
       Total Change Bal. Sheet Items | $[[underline]] (151)[[/underline]] | $[[underline]] (171)[[/underline]] | $ [[underline]]2,069[[/underline]] | $[[underline]]1,898[[/underline]] | $[[underline]] (427)[[/underline]]
| | | | |
[[double line]]
| | | | |
TOTAL CHANGE IN CASH BALANCE | $ 2,162 | $ 210 | $ 1,553 | $1,763 | $ (430)
[[double line]]
| | | | |
[[underline]]BEGINNING CASH BALANCE[[/underline]] | $ 5,228 | $ 7,390 | $ 7,600 | $7,390 | $ 9,153
| | | | |
ENDING CASH BALANCE | $ 7,390 | $ 7,600 | $ 9,153 | $9,153 | $ 8,723
[[double line]]

* After transfer of $100,000 to Endowment Funds.