STATE OF MARYLAND

Schedule of Changes in Fund Equities—Budgetary Basis
for the year ended June 30, 1985

(Expressed in Thousands)

		Special	Fund		Capital
	General	Other	Debt	Federal	Projects	Other
	Fund	Special	Service	Fund	Fund	Funds	Total
Fund equities, July 1, 1984 ...............	. $ 41,265	$ 267,860	$130,771		$ 158,038	$6,816,747	$7,414,681
Adjustments ............................						(68,988)(1)	(68,988)
Fund equities, restated ...................	41,265	267,860	130,771		158,038	6,747,759	7,345,693
Increase:
Revenues ...........................	3,769,795	1,476,701	259,758	$1,465,710	165,368	2,392,916	9,530,248
Decrease:
Appropriations .......................	3,800,091	1,548,060	282,088	1,566,545
Less: Current year reversions ...........	(19,373)	(83,347)		(95,515)
Prior year reversions .............	(2,448)	(2,452)		(5,177)
Expenditures and encumbrances ........	3,778,270	1,462,261	282,088	1,465,853	153,029	1,380,959	8,522,460
Changes to encumbrances during year .......	1,467	(3,567)		(802)			(2,902)
Expenditures ..........................	3,779,737	1,458,694	282,088	1,465,051	153,029	1,380,959	8,519,558
Transfers in (out) .........................	37,963	36,643	4,312	(659)	(3,175)	(75,084)
Changes in contributed capital .............						(4,307)	(4,307)
Increase in unrealized market
appreciation of investments ..............						15,411	15,411
Acquisition of Maryland Savings-
Share Insurance Corporation .............		65,712<2>				(227.474P	(161,762)
Fund equities, June 30, 1985 ...............	, $ 69,286	$ 388,222	$112,753	$ -0-	$167,202	$7,468,262	$8,205,725
Invested in fixed assets ...................						$1,115,905	$1,115,905
Contributed capital .......................						208,807	208,807
Capital deposits by members ...............						144,224	144,224
Retained earnings:
Reserved ..............................						178,469	178,469
Unreserved ............................						471,992	471,992
Fund Balance:
Reserved:
Encumbrances ........................	. $ 18,157	$ 31,792		$ 23,984	$292,437		366,370
Loans and notes receivable .............			$ 22,830				22,830
Loans to other funds ..................	2,000						2,000
Higher education programs .............						29,437	29,437
Shore erosion loan program ............		10,070					10,070
Endowment and similar funds ..........						27,943	27,943
Pension benefits ......................						4,350,115	4,350,115
Workers' compensation benefits .........						42,763	42,763
Unemployment compensation benefits						411,770	411,770
Unrealized market appreciation on
investments ........................						9,456	9,456
Unreserved:
Designated for:
General long-term service ............			89,923				89,923
Transportation debt service ...........						494,384	494,384
Deferred compensation benefits .......						157,896	157,896
Fiscal year 1986 operations ...........	1,547						1,547
Undesignated (deficit) .................	47,582	346,360		(23,984)	(125,235)	(174,899)	69,824
Total ............................	$ 69,286	$ 388,222	$112,753	$ -0-	$167,202	$7,468,262	$8,205,725

'" The fund balance pertaining to the University Hospital is no longer included in other funds since it became an independent self-governing unit effective July
1, 1984. In addition, the accounting treatment for certain non-budgeted accounts was changed to recognize the activity as an agency fund. The beginning
fund balance has been restated to reflect these changes.

(2> During fiscal year 1985 the State acquired the Maryland Savings-Share Insurance Corporation. Fund balances have been adjusted to reflect this addition.

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