REPORT

OF THE

COMPTROLLER OF THE TREASURY

OF THE
STATE OF MARYLAND

January 28, 1971

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, 1970.

The report follows a similar pattern of that for prior fiscal years 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 1970 fiscal year with a total surplus account of $5,831,927. However, since
current revenues were greater than expenditures, we completed the 1970 fiscal year with a total surplus
of $56,267,006., summarized as follows:

General Fund Surplus, July 1, 1969		$ 5,831,927.
Surplus Increases — Revenues, etc.	$880,878.934.
Less: Surplus Decreases — Net
Appropriations, etc.	830,443,855.
Excess of Increases over Decreases		50,435.079.
General Fund Surplus— June 30, 1970		$56,267.006.

A detailed analysis of the Surplus Account is presented in this report in Statement A-16.

Cash Receipts into the State Treasury amounted to $3,462,973,481., as reflected in Exhibit B, and
are summarized as follows:

General Funds	$2,003,713,806.
Special Funds	505,146.206.
Federal Funds	154,605,529.
Loan Funds	45,453,017.
Annuity Bond (Sinking) Funds	61,954,876.
All Other Funds	692,100.047.
	$3,462,973.481.

A condensed Analysis of Sources of these Funds as compared with the fiscal year ended June 30,

1969, is as follows:

			1970
	Fiscal Year	Fiscal Year	Increase
	1970	1969	or (Decrease)
REVENUE RECEIPTS: (Gross)
TAXES:
Income Taxes	$653,321,390.	$490,053,791.	$163,267,599.
Retail Sales and Use Taxes	236,842,785.	162,405,033.	74,437,752.
Motor Vehicle Fuel Taxes	111,426,038.	104,273,557.	7,152,481.
Motor Vehicle Taxes	45,290,142.	35,007,746.	10,282,396.
Property Tax	41,365,518.	26,932,953.	14,432,565.
Cigarette Tax	26,458,624.	26,185,913.	272,711.
Franchise and Corporation Taxes	27,855,171.	24,907,931.	2,947,240.
Insurance Company Taxes	21,720,053.	19,568,974.	2,151,079.
Alcoholic Beverages Taxes	15,663,315.	14,960,137.	703,178.
Horse Racing Taxes	13,111,891.	13,886,674.	(774,783.)
Death Taxes	13,041,070.	9,631,888.	3,409,182.
Admissions and Amusement Taxes	4,522,064.	978,345.	3,543,719.
Other Taxes	1,846,947.	1,720,620.	126,327.
TOTAL TAXES	$1,212,465,008.	$930,513,562.	$281,951,446.