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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, 1988
(Expressed in Thousands)
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Current
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Funds
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Endowment
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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 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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....... $241,834
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$ 230
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$ 242,064
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Federal grants and contracts .......................
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....... 22,980
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$121,539
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$ 1,562
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135
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146,216
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State and local grants and contracts .................
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....... 2,768
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42,938
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17
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45,723
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Private gifts, grants and contracts ..................
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....... 3,956
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24,609
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50
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408 $ 430
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29,453
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Sales and services ................................
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....... 161,650
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63
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3
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2,799
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164,515
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Investment income ...............................
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....... 11,680
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1,685
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31
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2,682 292
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16,370
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Realized gains on endowment investments ...........
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2,734
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2,734
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Interest on loans receivable ........................
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1,152
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66
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1,218
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Other ...........................................
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....... 3,007
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20
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536
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3,553
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7,116
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Total revenues ................................
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....... 447,875
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190,854
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3,351
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9,873 3,456
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655,409
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Expenses and other deductions:
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Educational and general:
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Instruction .....................................
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...... 332,096
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12,595
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344,691
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Research ......................................
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...... 39,402
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91,231
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130,633
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Public service ..................................
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...... 20,431
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7,774
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28,205
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Academic support ...............................
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...... 67,507
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1,156
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68,663
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Student services ................................
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...... 44,435
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1,488
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275
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46,198
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Institutional support ............................
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...... 97,907
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1,614
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279
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99,800
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Scholarships and fellowships ......................
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...... 14,108
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31,341
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71
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30
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45,550
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Operation and maintenance of plant ...............
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...... 84,837
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46
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68
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84,951
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Auxiliary enterprises .............................
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...... 118,199
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180
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118,379
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Hospital ........................................
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...... 9,709
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30,984
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40,693
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Non-capitalized expenditures for plant facilities .......
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151
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151
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Loan cancellations, write-offs and refunds ............
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...... 686
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578
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1,264
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Disposal of property, plant and equipment ............
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14,926
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14,926
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Interest on indebtedness ...........................
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8,804
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8,804
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Other ...........................................
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10
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329 196
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535
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Total expenses and other deductions ..............
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...... 829,317
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178,409
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934
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24,557 226
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1,033,443
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Excess (deficiency) of revenues and other
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additions over expenses and other
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deductions: ..................................
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...... (381,442)
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12,445
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2,417
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(14,684) 3,230
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(378,034)
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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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...... (598)
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598
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Loan fund matching grant ........................
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...... (167)
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167
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Debt service on capital leases .....................
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...... (16,570)
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(154)
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16,724
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Non-mandatory :
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Remodeling, renewals and replacements ............
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...... (76,194)
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(12,759)
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(8)
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88,961
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Other .........................................
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...... (183)
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175 8
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Total Higher Education interfund transfers ........
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...... (93,712)
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(12,913)
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159
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106,458 8
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Operating transfer from State's general and
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capital projects funds..............................
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...... 480,000
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26,788
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506,788
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Net increase (decrease) in fund balances ..........
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...... 4,846
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(468)
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2,576
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118,562 3,238
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128,754
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Fund balances, July 1, 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 35,238
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1,285,332
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Fund balances, June 30, 1988 ........................
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...... $ 10,998
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$ 2,522
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$34,190
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$1,327,900 $38,476
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$1,414,086
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The accompanying notes to general purpose financial statements are an integral part of these financial statements.
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