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STATE OF MARYLAND
Statement of Revenues, Expenses, Interfund Transfers,
Operating Transfers and Changes in Fund Balances
Higher Education Fund
for the year ended June 30, 1987
(Expressed in Thousands)
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Endowment
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Current
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Funds
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and Similar
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Unrestricted
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Restricted
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Loan Funds
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Plant Funds
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Funds
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Total
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Revenues and other additions:
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Student tuition and fees
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$218,186
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$ 2,143
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$ 220,329
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Federal grants and contracts
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21,428
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$116,502
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$ 1,548
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135
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139,613
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State and local grants and contracts
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2,251
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38,604
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40,855
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Private gifts, grants and contracts
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2,768
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21,381
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8
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982
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$ 653
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25,792
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Sales and services
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137,388
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57
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2,549
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139,994
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Investment income
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8,313
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1,493
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15
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2,043
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654
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12,518
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Realized gains on endowment investments
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2,505
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1,696
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4,201
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Interest on loans receivable
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1,011
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85
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43
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1,139
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Other
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3,645
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4
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275
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286
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16
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4,226
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Total revenues and other additions
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396,484
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178,041
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2,857
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8,223
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3,062
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588,667
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Expenses and other deductions:
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Educational and general-
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Instruction
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309,017
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13,034
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322,051
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Research
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32,654
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83,065
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115,719
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Public service
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18,911
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8,325
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27,236
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Academic support
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62,972
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1,348
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64,320
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Student services
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41,171
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1,289
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293
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42,753
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Institutional support
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87,345
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1,231
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325
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88,901
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Scholarships and fellowships
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11,180
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29,539
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7
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11
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40,737
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Operation and maintenance of plant
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76,090
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99
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76,189
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Auxiliary enterprises
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101,614
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210
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101,824
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Hospital
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8,811
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28,408
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37,219
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Non-capitalized expenditures for plant facilities
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2,568
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2,568
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Loan cancellations, write-offs and refunds
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218
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988
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1,206
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Disposal of property, plant and equipment
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16,003
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16,003
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Interest on indebtedness
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6,782
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6,782
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Other
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8,848
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11
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44,343
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193
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53,395
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Total expenses and other deductions
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758,831
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166,548
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1,299
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70,021
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204
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996,903
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Excess (deficiency) of revenues and other
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additions over expenses and other deductions
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(362,347)
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11,493
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1,558
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(61,798)
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2,858
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(408,236)
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Higher Education interfund transfers —
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in (out):
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Mandatory:
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Principal and interest on revenue bonds
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(449)
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449
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Loan fund matching grant
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(166)
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166
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Debt service on capital leases
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(8,334)
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(154)
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8,488
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Non-mandatory:
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Remodeling, renewals and replacements
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(52,224)
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(10,677)
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62,901
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Other
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898
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61
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(959)
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Total Higher Education interfund transfers
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(60,275)
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(10,831)
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227
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71,838
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(959)
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Operating transfer from State's general and
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capital projects funds
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441,059
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21,147
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462,206
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Net increase in fund balances
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18,437
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662
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1,785
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31,187
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1,899
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53,970
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Fund balances (deficit), July 1, 1986
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(12,285)
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2,328
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29,829
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1,178,151
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33,339
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1,231,362
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Fund balances, June 30, 1987
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$ 6,152
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$ 2,990
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$31,614
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$1,209,338
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$35,238
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$1,285,332
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The accompanying notes to general purposes financial statements are an integral part of these financial statements.
30
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