September 15, 1971

TO THE GOVERNOR, THE
MEMBERS OF THE GENERAL
ASSEMBLY AND THE PEOPLE
OF MARYLAND

I am pleased to present our eleventh condensed and simplified Annual Report
of the financial affairs of Maryland, covering the Fiscal Year ended
June 30, 1971.

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 language, 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.

The report is based on the total State Treasury receipts and disbursements
during the year. However, in order to obtain the clearest possible picture of
the regular financial operations of the State government, we have eliminated
the investment transactions, interfund transfers, etc. from the totals, leaving
receipts of $1,674,934,000 and disbursements of $1,608,979,000 in this re-
port to reflect the basic governmental operations of the State.

I trust this report will be both interesting and informative and I will be
happy to furnish additional information on the State's finances upon request.

Cordially yours,

Louis L. Goldstein
Comptroller of the
Treasury of Maryland

[See image for photograph]