TO THE GOVERNOR, THE MEMBERS OF

THE GENERAL ASSEMBLY AND THE

PEOPLE OF MARYLAND

I am pleased to present our third condensed and sim-
plified Annual Report of the financial affairs of Mary-
land, covering the Fiscal Year ended June 30, 1963.

This report is not intended to replace the much more
detailed official Annual Report which will be released in
the near future, but is designed to give, in layman's lan-
guage, an early and reasonably complete picture of the
sources from which money flowed into the State Treasury
and the purposes for which it was spent.

This report is based on the total State Treasury re-
ceipts of $907,205,000 and the total State Treasury dis-
bursements of 5911.317,000 during the year. However, in
order to obtain the clearest possible picture of the regu-
lar financial operations of the State government, we have
eliminated from these totals investment transactions,
interfund transfers, etc. These eliminations leave re-
ceipts of $598,633,000 and disbursements of $574,932,000
for the purposes of this report.

The excess of $23,701,000 of receipts over disburse-
ments should not be construed as affecting in entirety
the general fund position of the State. The actual overall
surplus position of the state is shown on the last page of
this report in the summary of the General Fund Surplus
account as of June 30, 1963. This statement shows that
after providing for all commitments the state had unen-
cumbered funds of $11,770,000 at the close of the year.
In addition the state also had in hand a Revenue Defi-
ciency Fund of $6,000,000.

We trust that this report will be both interesting
and informative.

Sincerely yours,

Louis L. Goldstein
Comptroller of the Treasury

of Maryland
August 26, 1963