STATE OF MARYLAND
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings
Enterprise Funds
for the year ended June 30, 1988
(Expressed in Thousands)
|
Economic
Development
|
|
Maryland
|
|
|
Maryland
|
|
Maryland
Higher
|
Maryland
Deposit
|
|
|
|
|
|
Food
|
|
Maryland
|
Environ-
|
|
Education
|
Insurance
|
Maryland
|
|
|
Insurance
|
Loan
|
Center
|
Transportation
|
State
|
mental
|
State Use
|
Loan
|
Fund
|
Stadium
|
|
|
Programs
|
Programs
|
Authority
|
Authority
|
Lottery
|
Service
|
Industries
|
Corporation
|
Corporation
|
Authority
|
Total
|
Operating revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Lottery ticket sales .....
|
|
|
|
|
$811,345
|
|
|
|
|
|
$ 811,345
|
Charges for services and
|
|
|
|
|
|
|
|
|
|
|
|
sales .................
|
$ 4,016
|
$ 2,561
|
$ 3,518
|
$108,029
|
|
$13,815
|
$15,073
|
$ 2,142
|
|
|
149,154
|
Interest and other
|
|
|
|
|
|
|
|
|
|
|
|
investment income .....
|
7,818
|
154,129
|
|
|
|
|
|
1,933
|
$ 1,968
|
|
165,848
|
Other .................
|
26
|
2,236
|
22
|
724
|
|
|
|
8,840
|
399
|
$ 26
|
12,273
|
Total operating revenues
|
11,860
|
158,926
|
3,540
|
108,753
|
811,345
|
13,815
|
15,073
|
12,915
|
2,367
|
26
|
1,138,620
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Prizes and claims .......
|
|
|
|
|
400,497
|
|
|
|
|
|
400,497
|
Commissions and bonuses
|
|
|
|
|
41,312
|
|
|
|
|
|
41,312
|
Cost of sales and services
|
|
97
|
|
|
|
|
11,026
|
31,579
|
|
|
42,702
|
Operation and
|
|
|
|
|
|
|
|
|
|
|
|
maintenance of facilities
|
|
40,171
|
|
86,649
|
|
10,520
|
|
|
|
|
137,340
|
General and
|
|
|
|
|
|
|
|
|
|
|
|
administrative ........
|
3,113
|
5,632
|
1,962
|
5,016
|
23,313
|
2,172
|
1,882
|
6,246
|
1,389
|
1,145
|
51,870
|
Interest ...............
|
|
126,054
|
|
|
|
|
|
|
350
|
|
126,404
|
Depreciation and
|
|
|
|
|
|
|
|
|
|
|
|
amortization ..........
|
17
|
1,638
|
404
|
423
|
1,831
|
1,451
|
302
|
22
|
33
|
9
|
6,130
|
Provision for insurance
|
|
|
|
|
|
|
|
|
|
|
|
and loan losses ........
|
1,213
|
397
|
|
|
|
|
|
(375)
|
|
|
1,235
|
Other .................
|
|
4,721
|
|
|
|
|
137
|
|
|
|
4,858
|
Total operating expenses
|
4,343
|
178,710
|
2,366
|
92,088
|
466,953
|
14,143
|
13,347
|
37,472
|
1,772
|
1,154
|
812,348
|
Operating income (loss) .
|
7,517
|
(19,784)
|
1,174
|
16,665
|
344,392
|
(328)
|
1,726
|
(24,557)
|
595
|
(1,128)
|
326,272
|
Non-operating revenues
|
|
|
|
|
|
|
|
|
|
|
|
(expenses):
|
|
|
|
|
|
|
|
|
|
|
|
Investment income ......
|
|
|
582
|
10,687
|
|
107
|
|
|
|
514
|
11,890
|
Interest expense ........
|
|
|
(835)
|
(17,137)
|
|
(485)
|
|
|
|
|
(18,457)
|
Operating grants .......
|
|
16,091
|
|
|
|
|
17
|
28,463
|
|
|
44,571
|
Reduction in income tax
|
|
|
|
|
|
|
|
|
|
|
|
contingency ...........
|
|
|
|
|
|
|
|
|
20,200
|
|
20,200
|
Operating income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
before transfers ........
|
7,517
|
(3,693)
|
921
|
10,215
|
344,392
|
(706)
|
1,743
|
3,906
|
20,795
|
(614)
|
384,476
|
Operating transfers in ....
|
|
|
|
|
|
|
|
|
984
|
16,750
|
17,734
|
Operating transfers out . . .
|
|
|
|
|
(352,678)
|
|
|
(1,179)
|
|
|
(353,857)
|
Net income (loss) ......
|
7,517
|
(3,693)
|
921
|
10,215
|
(8,286)
|
(706)
|
1,743
|
2,727
|
21,779
|
16,136
|
48,353
|
Add: Depreciation of cost
|
|
|
|
|
|
|
|
|
|
|
|
of assets acquired from
|
|
|
|
|
|
|
|
|
|
|
|
contributed capital .....
|
|
|
|
|
|
1,365
|
4
|
|
|
|
1,369
|
Increase (decrease) in
|
|
|
|
|
|
|
|
|
|
|
|
retained earnings .....
|
7,517
|
(3,693)
|
921
|
10,215
|
(8,286)
|
659
|
1,747
|
2,727
|
21,779
|
16,136
|
49,722
|
Retained earnings (deficit),
|
|
|
|
|
|
|
|
|
|
|
|
July 1, 1987 ...........
|
55,513
|
132,959
|
8,901
|
868,978
|
14,393
|
36
|
6,243
|
13,438
|
(356,656)
|
|
743,805
|
Retained earnings (deficit),
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 1988 ..........
|
$63,030
|
$129,266
|
$ 9,822
|
$879,193
|
$ 6,107
|
$ 695
|
$ 7,990
|
$16,165
|
$(334,877)
|
$16,136
|
$ 793,527
|
68
|
|