STATE OF MARYLAND

Combined Statement of Revenues, Expenses and Changes

in Retained Earnings/Fund Balances

Other Enterprise Funds, Nonexpendable Trust

Funds and Pension Trust Funds

for the year ended June 30,1979

(Expressed in Thousands)

	Proprietary	Fiduciary
	Fund Type	Fund	Types
				- Total
	Other	Nonexpendable	Pension	(Memorandum
	Enterprise	Trust Funds	Trust Funds	Only)
Revenues:
Lottery ticket sales .................................................	$332,097			$332,097
Charges for services and sales.........................................	68,105	$32,699		100,804
Contributions ......................................................			$ 319,758	319,758
Interest and other investment income ..................................	23,685	4,107	127,772	155,564
Other.............................................................	7,851			7,851
Federal revenue ....................................................	3,891			3,891
Total revenues ..................................	435,629	36,806	447,530	919,965
Expenses:
Prizes and. claims ...................................................	167,226	27,356		194,582
Commissions and bonuses ............................................	16,676			16,676
Cost of sales and services.............................................	5,751			5,751
Operation and maintenance of facilities.................................	23,448			23,448
General and administrative ..........................................	33,046	3,291		36,337
Interest ...........................................................	20,874			20,874
Depreciation and amortization ........................................	345			345
Benefit payments and refunds.........................................			180,247	180,247
Other.............................................................	117		63	180
Total expenses ........................................................	267,483	30,647	180,310	478,440
Income before extraordinary item ..................................	168,146	6,159	267,220	441,525
Extraordinary item-gain on refunding of revenue bonds (Note 12) .............	36,216			36,216
Net income.....................................................	204,362	6,159	267,220	477,741
Add: Depreciation of cost of assets acquired from contributed capital ....	14			14
Net income credited to retained earnings/fund balance .................	204,376	6,159	267,220	477,755
Retained earnings/fund balance, July 1, 1978, as previously reported (Note 4)				? 0?
Adjustments (Note 4)..................................................	531,691	5,046	1,998,343	2,535,080
Retained earnings/fund balance, as restated ...............................	531,691	5,046	1,998,343	2,535,080
Transfer of lottery earnings to general fund ...............................	(130,081)			(130,081)
Decrease in unrealized market depreciation of investments ..................		247		247
Retained earnings/fund balance, June 30, 1979 ............................	$605,986	$11,452	$2,265,563	$2,883,001

The accompanying notes to combined financial statements are an integral part of these financial statements.

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