REPORT OF THE EXECUTIVE COMMITTEE 161 



The following appropriations were made by Congress for the 

 Government bureaus under the administrative charge of the Smith- 

 sonian Institution for the fiscal ye^ar 1950: 



Salaries and expenses $2, 346, 000. 00 



National Zoological Park 544, 700. 00 



In addition, funds were transferred from other Departments of the 

 Government for expenditure under direction of the Smithsonian 

 Institution as follows: 



International Information and Educational Activities (transferred 



to the Smithsonian Institution from the State Department) __ $82, 510. 00 



Working Fund, transferred from the National Park Service, 

 Interior Department, for archeological and paleontological 

 investigations in River Basins throughout the United States. - 215, 886. 00 



The Institution also administers a trust fund for partial support 

 of the Canal Zone Biological Area, located on Barro Colorado Island 

 in the Canal Zone. 



The report of the audit of the Smithsonian private funds follows: 



Washington, D. C, Septe7nber IS, 1950. 

 to the boakds of regents, 

 Smithsonian Institution, 



Washington 25, D. C. 

 We have examined the accounts of the Smithsonian Institution relative to 

 its private endowment funds and gifts (but excluding the National Galler}' of 

 Art and other departments, bureaus, or operations administered by the Institution 

 under Federal appropriations) for the year ended June 30, 1950. Our examina- 

 tion was made in accordance with generally accepted auditing standards, and 

 accordingly included such tests of the accounting records and such other auditing 

 procedures as we considered necessary in the circumstances. 



The Institution maintains its accounts on a cash basis and does not accrue 

 income and expenses. Land, buildings, furniture, equipment, works of art, 

 living and other specimens and certain sundry property are not included in the 

 accounts of the Institution. 



In our opinion, the accompanying financial statements present fairly the 

 position of the private funds and the cash and investments thereof of the Smith- 

 sonian Institution at June 30, 1950 (excluding the National Gallery of Art and 

 other departments, bureaus, or operations administered by the Institution under 

 Federal appropriations) and the cash receipts and disbursements for the year 

 then ended, in conformity with generally accepted accounting principles applied 

 on a basis consistent with that of the preceding year. 



Peat, Marwick, Mitchell & Co. 

 Respectfully submitted, 



Robert V. Fleming 

 Vannevar Bush 

 Clarence Cannon 

 Executive Committee. 



