|
Budgetary Funds
|
General
|
Special
|
|
Loan
|
Nonbudgeted
|
|
|
|
Special
|
Debt
|
Capital
|
|
|
Financial Statement Funds
|
General
|
Revenue
|
Service
|
Projects
|
|
|
Budgetary fund equities, June 30, 1981
|
$170,915
|
$247,433
|
|
$95,419
|
$798,683
|
|
Reclassification of budgetary fund equitites into GAAP financial state-
|
|
|
|
|
|
|
ment fund structure
|
90,067
|
(73,887)
|
$272,102
|
(41,970)
|
(798,683)
|
|
Budgetary fund equities reclassed into GAAP financial statement funds
|
260,982
|
174,046
|
272,102
|
53.449
|
|
|
Other accounting principle differences
|
|
|
|
|
|
|
Assets recognized in the GAAP financial statements not recognized for
|
|
|
|
|
|
|
budgetary purposes (net of applicable deferred revenues!
|
|
|
|
|
|
|
Taxes receivable
|
2,017
|
1,011
|
3,457
|
|
|
|
Intergovernmental receivables
|
8,917
|
29,535
|
95
|
1281
|
|
|
Other accounts receivable
|
35,762
|
(8,314)
|
11,171)
|
532
|
|
|
Loans and notes receivable
Other, principally accrued investment income
|
6,510
|
7,137
|
119,842
8,951
|
6359
|
|
|
Liabilities recognized in GAAP financial statements not recognized for
|
|
|
|
|
|
|
budgetary purposes
|
|
|
|
|
|
|
Accounts payable and accrued liabilities
|
(11,361)
|
(11,001)
|
(638)
|
(21,498)
|
|
|
Local income taxes payable to local income tax agency fund
|
(92,651)
|
|
|
|
|
|
Accounts payable to political subdivisions
|
(12,973)
|
(28,794)
|
|
|
|
|
GAAP financial statement fund equities, June 30, 1981
|
$197,203
|
$163,620
|
$402,638
|
$40 123
|
$ -0-
|
The State's accounting system is maintained by the Comptroller in compliance with State Law and in
accordance with the State's Budgetary Funds. In addition, to the accounting systems maintained by the
Comptroller, certain individual agencies which are not subject to the State budget maintain accounting sys-
tems which permit financial reporting on the basis of generally accepted accounting principles. The most sig-
nificant of these agencies are: Economic development loan and insurance activities, Maryland Food Center
Authority, Maryland State Lottery, Maryland Environmental Service, State Use Industries and all Fiduci-
ary Funds. In certain instances these agencies deposit funds with the State Treasurer and in such instances
accountability for such funds is maintained in a non-budgetary fund.
Restatement of Budgetary Fund Balances:
For the year ended June 30, 1981, the State changed its method of accounting for encumbrances in its
budgetary financial statements. Prior to July 1, 1980 encumbrances were reported as expenditures and lia-
bilities. Effective July 1, 1980 encumbrances are included with expenditures and encumbrances, and encum-
brances outstanding at year end are reported as reservations of fund balances.
Accordingly, fund balances as of July 1, 1980 for the budgetary general and special funds have been in-
creased by $60,643,000 and $41,721,000, respectively, to adjust for encumbrances outstanding at June 30,
1980. Also, as of July 1, 1980 the State changed its policy for recognizing revenue from federal grants in the
budgetary federal funds. Prior to July 1, 1980, federal grants were recognized generally on the cash basis.
Effective July 1, 1980, federal grant revenues are recognized at the time related grant expenditures are paid
or accrued. As a result of this change, the budgetary federal fund balance was decreased by $6,931,000.
4. Investments:
Investments (amounts expressed in thousands) as of June 30, 1981 consisted of:
|
|
|
Funds
|
Higher Education
|
|
|
|
Special
|
Debt Other
|
and University
|
Fiduciary
|
|
|
General Revenue
|
Service Enterprise
|
Hospital
|
Fund Type
|
|
U S Treasury and Agency obligations
|
$121,266 $34,153
|
$239,760 $ 91.617
|
$17,221
|
$ 285,731
|
|
Certificates of deposit
|
27,288
|
198
|
91
|
|
|
Commercial paper
|
|
|
1,009
|
349,343
|
|
Corporate debt securities
|
|
|
1,654
|
1,392,319
|
|
Corporate equity securities
|
|
|
11,920
|
922,372
|
|
Annuity contracts
|
|
17,902
|
|
68,981
|
|
Other
|
|
22,027
|
1,127
|
111,245
|
|
Total
|
$148,554(a) $34,153
|
$239,760(b) $131,744(a)
|
$33,022(a)fc)
|
$3,129,991(d)
|
20
|
 |
