NSF remains committed to delivering the highest possible social returns on the nation's investment in research and education. The agency has traditionally maintained a very low overhead rate for its administrative functions and has received national recognition for its commitment to efficiency and productivity. This past December, for example, NSF became the first Federal agency to receive the prestigious National Information Infrastructure Award, which recognizes innovative uses of the Internet and World Wide Web in business, education, and government.

To cite an old adage, the NSF FY 1998 request represents both "money well spent" and "money spent well." Today's realities require that every dollar work harder and yield the highest possible dividends. At the same time, the possibilities and opportunities emerging across the spectrum of science and engineering remind us that this is a truly remarkable era for research and education in America. The investments contained in this request will help ensure that our nation gains full benefit from these emerging opportunities - and that the future brings greater progress and prosperity to all Americans.

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