A detailed analysis of revenues by Agency sources and by fund is presented in this re-
port as Exhibit 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 disbursements from the State Treasury amounted to $24,635,967.00 as reflected in
Statement A—1 and are analyzed by Funds as follows:

General Fund $19,068,136,460 77

Special Funds 1,652,497,131 05

Annuity Bond (Sinking) Fund 246,833,004 49

Federal Funds 673,436,414 14

Loan Funds 383,759,351 11

Non-Budgeted Funds 2,611,305,38959

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 appli-
cable to advances to departments, purchases of investments, and refunds, which are not con-
sidered 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 $107,313,806.48 after application of in-transit receipts
and disbursements at the close of the fiscal year and, as presented in Statement A—1 of the
report, consisted of the following:

General Fund , 161,402 37

Special Funds 67,965,704 61

Annuity Bond (Sinking) Fund 14,588,176 86

Federal Funds (251,55553)

Loan Funds 14,485,139 68

Non-Budgeted Funds 10,364,938 49

Investments of cash funds in excess of daily operating requirements, which totaled
$1,089,233,748.36 at June 30, 1978, are set forth in detail in Statement A—3. An analysis
of these investments by fund is as follows:

General Fund $231,453,334 40

Special Funds 113,780,276 84

Annuity Bond (Sinking) Fund 30,000,000 00

Loan Funds 100,368,252 93

Non-Budgeted Funds 613,631,884 19

$44,442,081.58 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.

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 depart-
ments, agencies, etc., cash working funds to enable them to make prompt payment for cer-
tain expenses. Such advances totaling $5,009,834.20 are presented in detail in Statement
A—2 and consist of the following funds:

General Fund $2,591,52400

Special Funds 1,267,714 20

Non-Budgeted Funds 1,150,59600