REPORT
OF THE
COMPTROLLER OF THE TREASURY

OF THE
STATE OF MARYLAND

October 31, 1959
To His EXCELLENCY
J. MILLARD TAWES
Governor of Maryland

In compliance with the provisions of Section 9 of Article 19
of the Annotated Code of Maryland (1957), I submit herewith a
report of the fiscal activities of the State for the year ended June
30, 1959.

The report follows the pattern of similar reports for the past
several years and I believe it will supply adequately the information
wanted by public officials, financial institutions, libraries, account-
ants and others interested in such information.

I am listing below items which are regarded as particularly
important in this report of the State's fiscal affairs. The follow-
ing are balances as at June 30, 1959.

General Fund Surplus $13,603,825.75
Cash in Banks, All Funds 31,076,203.83
Bonds Issued and Outstanding 206,530,000.00
Bonds Authorized and Unissued 97,350,800.00
State Real Estate Tax

(Calendar Year 1959) 13.42 cents

The State began its Fiscal Year with a surplus of $4,150,787.90.
The Revenues for the 1959 Fiscal Year exceeded requirements for
the year by $9,453,037.85, leaving a balance of $13,603,825.75. It
is estimated that $1,207,996.00 of this surplus will be necessary to
support the 1960 general fund appropriations, and $1,651,781.55
has been advanced to departments from the General Fund, so that
there is an unappropriated surplus of $10,744,048.20.