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Annual Report of the Comptroller, 1946
Volume 310, Page 7   View pdf image (33K)
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REPORT

OF THE

COMPTROLLER OF THE TREASURY

OF THE

STATE OF MARYLAND

November 1st, 1946.
To THE HONORABLE
THE GENERAL ASSEMBLY OF MARYLAND.

I aim pleased to submit to you, in accordance with Section 9, of
Article 19, of the Annotated Code of Maryland, a report of the fiscal
affairs of the State for the period July 1, 1945 to June 30, 1946,
known as our Fiscal Year 1946.

I am giving you a brief explanation of the following items of the
State's fiscal structure so that you may be able to readily know
about these important items in the State's financing:

The CASH BALANCE in the Treasury at June 30,1946
was $33,998,718.47.

We owned at June 30,1946, United States Treasury Certi-
ficates of the par value of $10,000,000.00, which certificates
were purchased with treasury cash and which, when re-
deemed, will increase our cash balance.

The SURPLUS at June 30, 1946, was $11,932,469.50,
which includes $2,000,000.00 which the State carries as its
Working Fund. This Surplus represents unencumbered
General Funds after providing for all obligations of the
State payable out of General Funds. The Budget passed at
the 1945 Session of the General Assembly appropriated
out of the June 30, 1946 Surplus the sum 9f $1,667,529.29
to take care of the difference between the estimated revenues
and the appropriations for the fiscal year ending June 30,
1947.

I wish to invite your attention to Exhibit "S" in this
Report, being a statement of estimated revenues, expendi-
tures, and surplus for the fiscal year ending June 30, 1947,
from which you will note, because of the change in the
revenue situation in the fiscal year 1947 whereby we will
receive somewhat in excess of those estimated in the Budget
passed by the 1945 Session, our General Fund Surplus at
June. 30, 1947 is estimated as $16,869,170.85 which will be
the Surplus with which we will begin the biennium on
July 1, 1947, for which the General Assembly at the 1947
Session will make appropriations.

 

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Annual Report of the Comptroller, 1946
Volume 310, Page 7   View pdf image (33K)
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