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REPORT
OF THE
COMPTROLLER OF THE TREASURY
OF THE
STATE OF MARYLAND
October 1, 1969
TO THE GENERAL ASSEMBLY OF MARYLAND AND TO
THE HONORABLE MARVIN MANDEL,
Governor of Maryland
In compliance with the provisions of Section 9 of Article 19 of the Annotated Code of Maryland,
I am pleased to submit herewith a report of the financial activities of the State of Maryland for the fiscal
year ended June 30, 1969.
The report follows a similar pattern of that for the last fiscal year and I believe it will supply ade-
quately the information wanted by public officials, financial institutions, libraries, accountants, and others,
interested in such matters.
The State began its 1969 fiscal year with a net operating deficit of $2,834,076. However, as the
result of current revenues being in excess of expenditures, we completed the 1969 fiscal year with a net
operating surplus of $5,831,927, summarized as follows:
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General Fund Net Operating Deficit, July 1, 1968
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$(2,834,076)
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Surplus Increases — Revenues, etc.
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$665,445,393
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Less: Surplus Decreases — Net
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Appropriations, etc.
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656,779,390
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Excess of Increases over Decreases
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8,666,003
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General Fund Net Operating Surplus — June 30, 1969
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$5,831,927
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A detailed analysis of the Surplus Account is presented in this report in Statement A—16.
Cash Receipts into the State Treasury amounted to $2,720,467,982, as reflected in Exhibit B, and
are summarized as follows:
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General Funds
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$1,437,783,968
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Special Funds
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434,766,148
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Federal Funds
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118,264,036
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Loan Funds
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100,118,909
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Annuity Bond (Sinking) Funds
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52,056,186
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All Other Funds
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577,478,735
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$2,720,467,982
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A condensed Analysis of Sources of these Funds as compared with the fiscal year ended June 30,
1968. is as follows:
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Increase
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1969
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1968
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or (Decrease)
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REVENUE RECEIPTS:
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TAXES:
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Income Taxes
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$490,053,791
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$390,534,861
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$99,518,930
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Retail Sales and Use Taxes
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162,405,033
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145,846,519
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16,558,514
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Motor Vehicle Fuel Taxes
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104,273,557
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97,211,587
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7,061,970
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Motor Vehicle Taxes
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35,007,746
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40,412,305
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(5,404,559)
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Property Tax
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26,932,953
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25,707,506
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1,225,447
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Cigarette Tax
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26,185,913
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25,586,237
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559,676
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Franchise and Corporation Taxes
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24,907,931
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18,837,711
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6,070,220
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Insurance Company Taxes
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19,568,974
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18,118,337
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1,450,637
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Alcoholic Beverages Taxes
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14,960,137
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14,102,396
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857,741
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Horse Racing Taxes
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13,886,674
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12,712,007
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1,174,667
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Death Taxes
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9,631,888
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8,565,691
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1,066,197
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Admissions and Amusement Taxes
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978,345
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1,343,008
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(364,663)
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Other Taxes
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1,720,620
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952,773
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767,847
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TOTAL TAXES
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$930,513,562
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$ 799,930,938
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$130,582,624
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