REPORT

OF THE

COMPTROLLER OF THE TREASURY

OF THE
STATE OF MARYLAND

October 31, 1960
To THE HONORABLE
THE GENERAL ASSEMBLY 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, 1960.

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, accountants
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 following
are balances as at June 30, 1960.

Unappropriated General Fund Surplus $5,914,786.50
Cash in Banks, All Funds . 35,246,766.24
Bonds Issued and Outstanding 224,673,000.00
Bonds Authorized and Unissued 85,373,467.13
State Real Estate Tax

(Calendar Year 1960) 13.75 cents

The State began its fiscal year with a surplus of $13,603,825.75.
The Revenues for the 1960 Fiscal Year exceeded requirements for
the year by $16,052,758.53 leaving a balance of $29,656,584.28.
$10,025,133.00 has been reserved to supplement 1961 General Fund
Revenue for budgetary operations, and $12,000,000.00 has been
appropriated as a Revenue Deficiency Fund; $1,716,664.78 has
been advanced to departments from the General Fund, so that
there is an unappropriated surplus of $5,914,786.50.