PROPRIETARY FUND TYPES
Other Enterprise Funds:
Other enterprise funds include:

1. Economic Development:

• Direct loan and loan insurance programs of the Community Development Administration, Maryland
Housing Fund, Maryland Home Financing Program, Maryland Housing Rehabilitation Program and
Maryland Industrial Development Financing Authority

• Ocean City Convention Hall Commission which operates convention facilities

2. Maryland Food Center Authority which owns and operates warehouse facilities for use by wholesale
food distributors.

3. Maryland Transportation Authority which constructs, maintains and operates transportation toll fa-
cilities.

4. Maryland State Lottery Agency which operates the State Lottery.

5. Maryland Environmental Service which constructs, maintains and operates water supply and liquid
and solid waste disposal facilities.

6. State Use Industries which utilizes inmate labor from State correctional institutions to manufacture
goods, wares and merchandise to be sold to State Agencies, political subdivisions and charitable, civic, edu-
cational, fraternal or religious associations or institutions.

Higher Education and University Hospital Funds:

Transactions related to the financial activities of State higher education institutions and the University
of Maryland Hospital are accounted for in the higher education and University Hospital funds.

FIDUCIARY FUND TYPES

Transactions related to assets held by the State in a trustee or agency capacity are accounted for in fidu-
ciary fund types. Fiduciary fund types are comprised of:

1. Expendable trust funds which account for assets received and expended by the State as trustee.

2. Nonexpendable trust fund which reflects the transactions, assets, liabilities and fund equity of the
State Accident Fund, a fund established to provide workers' compensation insurance for participating em-
ployers in the State, including the State of Maryland.

3. Pension trust funds which reflect the transactions, assets, liabilities and fund equities of the various
State administered retirement systems.

4. Agency funds which account for the receipt and expenditure of various taxes and federal grant pro-
ceeds collected by the State for distribution to its political subdivisions.

ACCOUNT GROUPS

General Fixed Assets Account Group:

General fixed assets acquired or constructed for use by the State in the conduct of its activities, other
than activities accounted for in proprietary fund types, are reflected in the general fixed assets account
group at the time of acquisition. As of June 30, 1980 the State established and recorded in the general fixed
assets account group the estimated cost of general fixed assets based on available historical cost records. Be-
cause the estimated historical cost amounts for fixed assets were established as of June 30, 1980, changes in
historical cost amounts for the year ended June 30, 1980 are not available. Infrastructure assets, consisting
principally of highways, roads and bridges are not recorded in the general fixed assets account group.

Long-Term Obligations Account Group:

Unmatured long-term general obligation and transportation bonds payable and accrued retirement costs
related to general governmental activities are reflected in the long-term obligations account group.

13