September 15, 1972

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

I am pleased to present our twelfth condensed and
simplified Annual Report of the financial affairs
of Maryland, covering the Fiscal Year ended June
30, 1972.

This report is not intended to replace the much
more detailed official Annual Report, also being
published, which will be released in the near fu-
ture, but is designed to give, in layman's language,
a 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. How-
ever, in order to obtain the clearest possible pic-
ture of the regular financial operations of the State
government, we have eliminated the investment
transactions, interfund transfers, etc. from the
totals, leaving receipts of $1,925,134,000 and dis-
bursements of $1,934,932,000 in this report 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 addi-
tional information on the State's finances upon
request.

Cordially yours,

Louis L. Goldstein
Comptroller of the
Treasury of Maryland

[See image for photograph]