Viewing page 85 of 95

This transcription has been completed. Contact us with corrections.

88

[[underlined]] Status Report: Hillwood Museum [[/underlined]]

On September 24, 1974 the Board of Regents voted to ratify the June 18, 1974 action of the Executive Committee in approving a curtailment of proposed operations and a lower fiscal 1975 budget for Hillwood consonant with reduced funding available to the Institution during the administration of Mrs. Post's will. 

At the present time, expenditure projections through June 30, 1975 indicate that we will finish the fiscal year slightly below the $584,400 budget approved for this year's holding action. Through January 31, 1974 the Smithsonian received some $322,000 from the Marjorie Merriweather Post Foundation and from the Hillwood Trust toward this year's costs at Hillwood. These funds have been sufficient to date. Further, we have been assured by officials of the Post Foundation and the Hillwood Trust that additional funds will be made available to meet our needs through the remainder of this fiscal year. 

The administration of Mrs. Post's estate, however, continues to be a lengthy process, with no firm date yet established for the conclusion of legal and fiscal matters involved in the final settlement and distribution of the estate. Consequently, it must be assumed at this time that Smithsonian activities at Hillwood for the period beyond July 1, 1975 will continue to be restricted to a holding action, delaying any public opening of the Museum for all or part of another year.