REPORT

OF THE

COMPTROLLER OF THE TREASURY

OF THE
STATE OF MARYLAND

January 14, 1978

TO THE GENERAL ASSEMBLY OF MARYLAND AND TO
THE HONORABLE BLAIR LEE, III

ACTING 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 detailed report of the financial activities of the State of Maryland for the fiscal
year ended June 30, 1977.

The report follows a pattern similar to that for prior fiscal years, and I believe it will supply adequately
the information wanted by public officials, financial institutions, libraries, accountants, and others
interested in such matters. The information contained in this report was used in the preparation of the
financial data provided in Maryland's Official Bond Offering Statements and our Condensed Annual Re-
port.

The State began its 1977 fiscal year with a total General Fund Surplus of $32,235,074 and completed
the fiscal year with a total General Fund Surplus of $64,308,093 summarized as follows:

General Fund Surplus, July 1, 1976 .................... $32,235,074

Surplus Increases-Revenues, etc........................$1,858,621,306

Less Surplus Decreases -

Net Appropriations, etc.......................... 1,826,548,287

Excess of Increases over Decreases .....................________ 32,073,019

General Fund Surplus, June 30, 1977 .................. $64,308,093

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

Total receipts into the State Treasury amounted to $21,586,302,764 as reflected in Statement A-l and
are summarized as follows:

General Fund ...................................................... $17,044,384,170

Special Funds ...................................................... 1,634,725,834

Annuity Bond (Sinking) Fund ....................................... 183,800,267

Federal Funds...................................................... 561,577,923

Loan Funds ........................................................ 457,282,105

All other Funds .................................................... 1.704.532.465

$21,586,302,764