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STATE OF MARYLAND
Schedule of Changes in Fund Equities — Budgetary Basis
for the year ended June 30,1988
(Expressed in Thousands)
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Higher
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Education
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Special
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Fund
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Current
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Current
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Capital
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General
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Other
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Debt
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Federal
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Unrestricted
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Restricted
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Projects
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Other
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Fund
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Special
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Service
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Fund
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Fund
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Fund
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Fund
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Funds
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Total
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Fund equities, July 1, 1987 .......
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$ 298,245
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$ 318,687
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$ 86,711
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$130,253
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$ 1,942
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$ 72,988
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$ 9,834,912
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$10,743,738
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Increase:
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Revenues ...................
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5,124,761
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1,639,834
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299,587
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$1,668,692
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947,986
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185,691
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355,429
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2,896,664
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13,118,644
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Decrease:
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Appropriations ...............
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4,911,651
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1,768,378
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303,500
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1,762,480
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947,707
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193,099
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Less: Current year reversions . .
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(16,168)
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(142,202)
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(104,581)
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(3,249)
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(7,335)
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Prior year reversions .....
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(2,987)
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(3,598)
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(2,557)
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(646)
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Expenditures and encumbrances
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4,892,496
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1,622,578
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303,500
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1,655,342
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943,812
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185,764
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255,979
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1,709,875
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11,569,346
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Changes to encumbrances during
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fiscal year 1988 ..............
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(5,366)
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(1,314)
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(716)
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1,834
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1
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(5,561)
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Expenditures ................
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4,887,130
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1,621,264
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303,500
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1,654,626
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945,646
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185,765
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255,979
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1,709,875
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11,563,785
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Transfers in (out) ................
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21,849
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16,036
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(202)
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(14,066)
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10
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(109)
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1,574
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(25,092)
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Changes in contributed capital ....
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9,068
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9,068
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Decrease in unrealized market
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appreciation of investments .....
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(6,845)
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(6,845)
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Reduction in income tax contingency
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20,200
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20,200
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Gain on sale of securities .........
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961,800
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961,800
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Fund equities, June 30, 1988 ......
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$ 557,725
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$ 353,293
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$ 82,596
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$ -0-
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$132,603
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$ 1,759
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$174,012
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$11,980,832
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$13,282,820
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Invested in fixed assets ..........
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$ 1,327,900
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$ 1,327,900
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Contributed capital ..............
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991,360
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991,360
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Capital deposits by members ......
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144,224
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144,224
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Retained earnings:
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Reserved .....................
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108,662
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108,662
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Unreserved ...................
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684,865
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684,865
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Fund Balance:
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Reserved:
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Encumbrances ...............
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$ 43,846
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$ 45,351
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$ 23,769
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$ 12,518
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$ 1
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$260,267
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385,752
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Loans and notes receivable ....
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$ 17,518
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17,518
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Loans to other funds ..........
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1,945
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1,945
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Higher education programs ....
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36,712
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36,712
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Shore erosion loan programs . . .
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13,072
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13,072
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Endowment and similar funds . .
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38,476
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38,476
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Pension benefits .............
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8,119,720
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8,119,720
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Workers' compensation benefits
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89,615
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89,615
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Unemployment compensation
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benefits ...................
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618,779
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618,779
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Unrealized market appreciation
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on investments .............
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4,090
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4,090
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Unreserved:
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Designated for:
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General long-term debt service
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65,078
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65,078
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Transportation debt service . . .
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84,192
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84,192
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State reserve fund ..........
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103,449
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103,449
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Emergency medical services
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system ...................
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31,000
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31,000
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Fiscal year 1989 operations . .
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180,830
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180,830
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Undesignated (deficit) .........
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227,655
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263,870
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(23,769)
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120,085
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1,758
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(86,255)
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(267,763)
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235,581
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Total ....................
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$ 557,725
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$ 353,293
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$ 82,596
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$ -0-
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$132,603
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$ 1,759
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$174,012
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$11,980,832
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$13,282,820
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75
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