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7. Property, Plant and Equipment:
Property, plant and equipment (amounts expressed in thousands) consisted of the following as of June 30,1987:
Enterprise Funds:
|
|
|
Non-
|
|
|
Depreciable
|
depreciable
|
|
|
Assets
|
Assets
|
|
Land and improvements (includes land being held for
|
|
|
|
saleof $2,124) ..................................
|
|
$ 8,574
|
|
Structure and improvements ........................
|
$31,071
|
1,665,075
|
|
Equipment ......................................
|
26,005
|
579
|
|
|
57,076
|
1,674,228
|
|
Less accumulated depreciation ...................
|
29,675
|
|
|
Total ....................................
|
$27,401
|
$1,674,228
|
|
Nonexpendable Trust Fund-
|
|
|
|
Land .....................................
|
$ 164
|
|
|
Equipment, net of accumulated depreciation of
|
|
|
|
$452 ....................................
|
1,323
|
|
|
Total ....................................
|
$ 1,487
|
|
General Fixed Assets:
General fixed assets activity by asset classification for the year ended June 30, 1987, was as follows
(amounts expressed in thousands):
|
|
Balance
|
|
|
Transfers
|
Balance
|
|
Classification
|
July 1, 1986
|
Additions
|
Deletions
|
in (out)
|
June 30, 1987
|
|
Land and improvements
|
$ 478,522
|
$ 25,412
|
$ 5,478
|
$ 14,185
|
$ 512,641
|
|
Structure and improvements
|
1,837,270
|
70,098
|
3,002
|
73,740
|
1,978,106
|
|
Equipment
|
549,448
|
63,757
|
20,308
|
46,365
|
639,262
|
|
Construction in progress
|
301,616
|
145,985
|
|
(134,290)
|
313,311
|
|
Total
|
$3,166,856
|
$305,252
|
$28,788
|
$ -0-
|
$3,443,320
|
|
Higher Education Fund:
|
|
|
|
|
|
|
Land ......................
|
|
|
|
|
. . $ 53,383
|
|
Building and improvements
|
|
|
|
|
757,734
|
|
Contents ...................
|
|
|
|
|
421,966
|
|
Construction in progress ......
|
|
|
|
|
67,433
|
|
Total .....................
|
|
|
|
|
, . $1,300,516
|
8. General Obligation Bonds:
General obligation bonds are authorized and issued primarily to provide funds for state owned capital
improvements, including facilities for institutions of higher learning, and the construction of public schools in
political subdivisions. Bonds have also been issued for local government improvements, including grants and
loans for water quality improvement projects and correctional facilities, and to provide funds for repayable
loans or outright grants to private, not-for-profit cultural or educational institutions. Under constitutional
requirements and practice, the Maryland General Assembly, by a separate enabling act, authorizes a loan for
a particular object or purpose. Thereafter the Board of Public Works, a constitutional body composed of the
Governor, the Comptroller of the Treasury and the State Treasurer, by resolution authorizes the issuance of
bonds in a specified amount for part or all of the loan authorized by a particular enabling act.
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