REPORT

OF THE

COMPTROLLER OF THE TREASURY

OF THE

STATE OF MARYLAND

September 30, 1965

To THE GENERAL ASSEMBLY

OF MARYLAND, AND
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, 1965.

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 matters.

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, 1965.

Unappropriated General Fund Surplus.............. $13,545,984.49

Cash in Banks, All Funds................................... 32,596,597.59

Bonds Issued and Outstanding............................ 329,651,000.00

Bonds Authorized and Unissued.......................... 252,377,481.19

State Real Estate Tax (Taxable Year 1965) ...18.00 cents

The State began its 1965 fiscal year with a total Surplus Ac-
count of $37,528,050.00. General Fund Expenditures for the 1965
fiscal year exceeded Revenues for the year by $8,065,083.51 leaving
a balance of $29,462,966.49. Of this amount $13,976,452.00 has
been reserved to supplement 1966 General Fund Revenue for
budgetary operations and $1,940,530.00 has been advanced to de-
partments from the General Fund, so that there is an Unappropriated
Surplus of $13,545,984.49. If necessary, another $6,000,000.00 is
in the Revenue Deficiency Fund making a total of $19,545,984.49
in additional General Funds to help finance the 1967 General Fund
Operating Budget.