|
STATE OF MARYLAND
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings/Fund Balances
Enterprise Funds, Nonexpendable Trust
Fund and Pension Trust Fund
for the year ended June 30, 1985
(Expressed in Thousands)
|
|
Proprietary
Fund Type
|
Fiduciary
Fund Types
|
|
|
|
|
|
|
|
Total
|
|
|
|
Nonexpendable
|
Pension
|
(Memorandum
|
|
|
Enterprise
|
Trust Fund
|
Trust Fund
|
Only)
|
|
Operating revenues:
|
|
|
|
|
|
Lottery ticket sales ..................................................
|
$681,068
|
|
|
$ 681,068
|
|
Charges for services and sales .........................................
|
107,703
|
$44,561
|
|
152,264
|
|
Contributions ........................................................
|
|
|
$ 569,976
|
569,976
|
|
Interest and other investment income ...................................
|
157,105
|
20,755
|
426,482
|
604,342
|
|
Other ..............................................................
|
13,496
|
6
|
|
13,502
|
|
Total operating revenues ............................................
|
959,372
|
65,322
|
996,458
|
2,021,152
|
|
Operating expenses:
|
|
|
|
|
|
Prizes and claims ....................................................
|
367,228
|
60,195
|
|
427,423
|
|
Commissions and bonuses .............................................
|
27,375
|
|
|
27,375
|
|
Cost of sales and services .............................................
|
21,495
|
|
|
21,495
|
|
Operation and maintenance of facilities ..................................
|
66,164
|
|
|
66,164
|
|
General and administrative ............................................
|
44,192
|
5,370
|
7,604
|
57,166
|
|
Interest ............................................................
|
109,530
|
|
|
109,530
|
|
Depreciation and amortization .........................................
|
6,896
|
95
|
|
6,991
|
|
Benefit payments and refunds .........................................
|
|
|
430,774
|
430,774
|
|
Provision for insurance and loan losses ..................................
|
2,474
|
|
|
2,474
|
|
Payments to subdivisions, net ..........................................
|
13,560
|
|
|
13,560
|
|
Other ..............................................................
|
1,570
|
|
|
1,570
|
|
Total operating expenses ............................................
|
660,484
|
65,660
|
438,378
|
1,164,522
|
|
Operating income (loss) before operating grants and transfers .............
|
298,888
|
(338)
|
558,080
|
856,630
|
|
Non-operating revenues -operating grants .................................
|
25,090
|
|
|
25,090
|
|
Operating transfers in ..................................................
|
947
|
|
|
947
|
|
Operating transfers out .................................................
|
(252,517)
|
|
|
(252,517)
|
|
Net income (loss) ...................................................
|
72,408
|
(338)
|
558,080
|
630,150
|
|
Add: Depreciation of cost of assets acquired from contributed capital ..........
|
1,409
|
|
|
1,409
|
|
Less: Acquisition of Maryland Savings-Share Insurance Corporation (Note 14)
|
(305,986)
|
|
|
(305,986)
|
|
Increase (decrease) in retained earnings/fund balance .......................
|
(232,169)
|
(338)
|
558,080
|
325,573
|
|
Retained earnings/fund balance, July 1, 1984 ..............................
|
882,630
|
37,146
|
3,792,035
|
4,711,811
|
|
Increase in unrealized market appreciation of investments ...................
|
|
15,411
|
|
15,411
|
|
Retained earnings/fund balance, June 30, 1985 .............................
|
$650,461
|
$52,219
|
$4,350,115
|
$5,052,795
|
The accompanying notes to combined financial statements are an integral part of these financial statements.
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