Coopers & Lybrand 

 Certified Public Accountants 



Report of Independent Accountants 

 To The Board of Regents 

 Smithsonian Institution 



We have audited the accompanying statement of financial condition 

 of the Smithsonian Institution as of September 30, 1992, and the 

 related statements of financial activity and cash flows for the year then 

 ended. We previously audited and reported upon the financial state- 

 ments of the Smithsonian Institution for the year ended September 

 30, 1991, totals of which are included in the accompanying financial 

 statements for comparative purposes only. These financial statements 

 are the responsibility of the Institution's management. Our responsi- 

 bility is to express an opinion on these financial statements based on 

 our audit. 



We conducted our audit in accordance with generally accepted 

 auditing standards and generally accepted government auditing stan- 

 dards. Those standards require that we plan and perform the audit to 

 obtain reasonable assurance about whether the financial statements 

 are free of material misstatement. An audit includes examining, on a 

 test basis, evidence supporting the amounts and disclosures in the 

 financial statements. An audit also includes assessing the accounting 

 principles used and significant estimates made by management, as 

 well as evaluating the overall financial statement presentation. We 

 believe that our audit provides a reasonable basis for our opinion. 



In our opinion, the financial statements referred to above present 

 fairly, in all material respects, the financial position of the Smith- 

 sonian Institution as of September 30, 1992, and the results of its 

 operations and its cash flows for the year then ended, in conformity 

 with generally accepted accounting principles. 



Washington, D.C. 

 December 23, 1992 



LoT+LtA.* foJnmJ*-— 



Smithsonian Institution Statement of Financial Condition, September 30, 

 (with comparative totals for September 30, 1991) (thousands of dollars) 



1992 



Trust 

 funds 



Federal 

 funds 



Totals, 

 all funds 



Tools. 

 1991 



ASSETS: 



Fund balances with U.S. Treasury and cash $ 2.560 



Investments (Note 3) 377.233 



Receivables (Note 5) 48.650 



Advance payments (Note 6) — 



Inventories 18.181 



Prepaid, deferred expense and other 21 ,483 



Property and equipment (Note 7) 77.270 



Collections (Note 11) — 



Total assets $545,377 



LIABILITIES: 



Accounts payable and accrued expenses $ 23,949 



Interfund payable 11,617 



Payable for investment securities purchased 16, 148 



Deposits held in custody for other organizations (Note 2) 5 .839 



Accrued annual leave 3.437 



Deferred revenue 50.497 



Long-term debt (Note 9) 13.113 



Total liabilities 124.600 



Undelivered orders — 



Commicmena and contingencies (Note 8) 



FUND BALANCES: 

 Trust — Current (Note 15): 



Unrestricted general purpose 9.959 



Special purpose 27.557 



Restricted 28.132 



Trust — Endowment and similar funds (Note 4) 292,074 



Trust— Plant funds (Note 7) 63.055 



Federal — Operating funds (Note 10) — 



Federal— Construction funds — 



Fed e r al — Capital funds — 



Total fund balances 420,777 



Total liabilities, undelivered orders and fund b*\inm $545,377 



$158,587 



11.943 



12.635 



1.681 



311.553 



161,147 



$150,003 



377.233 



326.610 



60.593 



55.055 



12.635 



12,980 



19.862 



19,121 



21.483 



17,835 



388.823 



359.442 



$496,399 



$ 30.410 



11.483 



$1,041,776 



41.893 



166.493 



68.713 



68.713 



385.793 



806.570 



$496,399 



$1,041,776 



$941,046 



54.359 



$ 49.694 



11,617 



8.887 



16.148 



8.007 



5.839 



4.476 



14.920 



13.583 



50.497 



36,655 



13.113 



10,714 



132.016 



81.786 



— 



9.959 



13.772 



— 



27.557 



31.115 



— 



28.132 



21.036 



— 



292.074 



265.371 



— 



63.055 



60.392 



15.977 



15,977 



8.089 



56.582 



56.582 



43.629 



13.234 



313.234 



.33.840 



727.244 



$941,046 



The accompanying notes are an integral pan of these financial statements. 



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