REPORT

OF THE

COMPTROLLER OF THE TREASURY

OF THE

STATE OF MARYLAND

September 30, 1966

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, 1966.

The report follows the 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 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, 1966.

Unappropriated General Fund Surplus.............. $11,735,250.42

Cash in Banks, All Funds .............................. 22,543,455.70

Bonds Issued and Outstanding............................ 374,559,000.00

Bonds Authorized and Unissued.......................... 235,233,217.46

State Real Estate Tax (Taxable Year 1967)....15.00 cents

The State began its 1966 fiscal year with a total Surplus Account
of $29,462,966.49. General Fund Revenue for the 1966 fiscal year
exceeded Expenditures for the year by $2,413,496.33, leaving a bal-
ance of $31,876,462.82. Of this amount, $19,069,791.00 has been
reserved to supplement 1967 General Fund Revenue for budgetary
operations and $1,071,421.40 has been advanced to departments
from the General Fund, so that there is an Unappropriated Surplus
of $11,735,250.42. In accordance with Chapter 138 of the Acts of
1966, a transfer of $6,000,000.00 was made on July 1, 1966, from the
Revenue Deficiency Fund to General Fund Surplus in order to
supplement fiscal year 1967 revenues. This $6,000,000 is the final
balance remaining in the Revenue Deficiency Fund.