A detailed analysis of cash revenues by Agency sources and by fund is presented in this report as Ex-
hibit B. These revenues exclude cash transactions applicable to advances, sales of investments, and certain
other items which are not regarded as operating receipts of the State Government.

Total cash disbursements from the State Treasury amounted to $21,576,043,538 as reflected in State-
ment A-l and are analyzed by Funds as follows:

General Fund ...................................................... $17,219,370,227

Special Funds ...................................................... 1,663,361,190

Annuity Bond (Sinking) Fund ....................................... 184,750,857

Federal Funds...................................................... 521,392,598

Loan Funds ........................................................ 526,201,962

Non-Budgeted Funds................................................ 1.460.966.704

$21.576,043.638

A statement showing cash expenditures by fund made by all Agencies of the State is presented in
this report as Exhibit C. These expenditures exclude cash transactions applicable to advances to depart-
ments, purchases of investments, and refunds, which are not considered as operating expenditures of the
State Government. Also excluded from Exhibit C are outstanding encumbrances at the end of the fiscal
year. Information on encumbrances outstanding is included in Statements A-7 and A-9,

The cash balance amounted to $160,088,641 after application of in-transit receipts and disbursements
at the close of the fiscal year and, as presented in Statement A-l of the report, consisted of the following:

General Fund ...................................................... $235,532

Special Funds ...................................................... 50,540,795

Annuity Bond (Sinking) Fund ....................................... 42,814,026

Federal Funds...................................................... 5,095,086

Loan Funds ........................................................ 5,719,667

Other Funds ....................................................... 55.683,535

$160.088,641

Investments of cash funds in excess of daily operating requirements, which totaled $542,518,034 at
June 30, 1977, are set forth in detail in Statement A-3. An analysis of these investments by fund is as
follows:

General Fund ...................................................... $89,038,768

Special Funds ...................................................... 97,811,170

Loan Funds ....................................................... 137,075,000

Non-Budgeted Funds ............................................... 218.593.096

Total Investments .................................................. $542,518,034

$33,462,616 of the above is held by the Trust Department of the Equitable Trust Company, for account
of the State Accident Fund, under an agreement dated January 2, 1964 between that Agency and the bank.
The remainder of the investments are held in the custody of the State Treasurer in safe deposit boxes main-
tained at the Maryland National Bank, Baltimore, Maryland.

Under the provisions of Section 197 of Article 41 of the Annotated Code of Maryland, on the warrant of
the Comptroller, the Treasurer is authorized to advance to the State departments, agencies, etc., cash
working funds to enable them to make prompt payment for certain expenses. Such advances totaling
$6,192,319 are presented in detail in Statement A-2 and consist of the following funds: