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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, 1988
(Expressed in Thousands)
|
|
Proprietary
Fund Type
|
Fiduciary
Fund
|
Types
|
|
|
|
|
|
|
Total
|
|
|
|
Nonexpendable
|
Pension
|
(Memorandum
|
|
|
Enterprise
|
Trust Fund
|
Trust Fund
|
Only)
|
|
Operating revenues:
|
|
|
|
|
|
Lottery ticket sales ..............................................
|
$ 811,345
|
|
|
$ 811,345
|
|
Charges for services and sales .....................................
|
149,154
|
$116,783
|
|
265,937
|
|
Contributions ...................................................
|
|
|
$ 683,337
|
683,337
|
|
Interest and other investment income ...............................
|
165,848
|
26,685
|
819,810
|
1,012,343
|
|
Other ..........................................................
|
12,273
|
|
|
12,273
|
|
Total operating revenues ....................................
|
1,138,620
|
143,468
|
1,503,147
|
2,785,235
|
|
Operating expenses:
|
|
|
|
|
|
Prizes and claims ................................................
|
400,497
|
115,911
|
|
516,408
|
|
Commissions and bonuses .........................................
|
41,312
|
|
|
41,312
|
|
Cost of sales and services .........................................
|
42,702
|
|
|
42,702
|
|
Operation and maintenance of facilities .............................
|
137,340
|
|
|
137,340
|
|
General and administrative .......................................
|
51,870
|
12,489
|
10,919
|
75,278
|
|
Interest ........................................................
|
126,404
|
|
|
126,404
|
|
Depreciation and amortization .....................................
|
6,130
|
269
|
|
6,399
|
|
Benefit payments and refunds .....................................
|
|
|
475,913
|
475,913
|
|
Provision for insurance and loan losses ..............................
|
1,235
|
|
|
1,235
|
|
Other ..........................................................
|
4,858
|
|
|
4,858
|
|
Total operating expenses ....................................
|
812,348
|
128,669
|
486,832
|
1,427,849
|
|
Operating income ..........................................
|
326,272
|
14,799
|
1,016,315
|
1,357,386
|
|
Non-operating revenues (expenses)
|
|
|
|
|
|
Investment income ...............................................
|
11,890
|
|
|
11,890
|
|
Interest expense .................................................
|
(18,457)
|
|
|
(18,457)
|
|
Operating grants ................................................
|
44,571
|
|
|
44,571
|
|
Reduction in income tax contingency ................................
|
20,200
|
|
|
20,200
|
|
Gain on sale of securities .........................................
|
|
|
961,800
|
961,800
|
|
Operating income before transfers ............................
|
384,476
|
14,799
|
1,978,115
|
2,377,390
|
|
Operating transfers in .............................................
|
17,734
|
|
|
17,734
|
|
Operating transfers out ............................................
|
(353,857)
|
|
|
(353,857)
|
|
Net income ...............................................
|
48,353
|
14,799
|
1,978,115
|
2,041,267
|
|
Add: Depreciation of cost of assets acquired from contributed capital ......
|
1,369
|
|
|
1,369
|
|
Increase in retained earnings/fund balance .....................
|
49,722
|
14,799
|
1,978,115
|
2,042,636
|
|
Retained earnings/fund balance, July 1, 1987 ..........................
|
743,805
|
85,751
|
6,141,605
|
6,971,161
|
|
Decrease in unrealized market appreciation of investments ..............
|
|
(6,845)
|
|
(6,845)
|
|
Retained earnings/fund balance, June 30, 1988 ........................
|
$ 793,527
|
$ 93,705
|
$8,119,720
|
$9,006,952
|
The accompanying notes to general purpose financial statements are an integral part of these financial statements.
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