STATE OF MARYLAND

Statement of Revenues, Expenditures, Interfund Transfers,
Operating Transfers and Changes in Fund Balances

Higher Education Fund
for the year ended June 30, 1989

(Expressed in Thousands)

	Current	Funds
					Endowment
	Unrestricted	Restricted	Loan Funds	Plant Funds	Funds	Total
Revenues and other additions:
Student tuition and fees .................................	$258,683			$ 1,088		$ 259,771
Federal grants and contracts .............................	25,400	$133,694	$ 1,775	98		160,967
State and local grants and contracts .......................	3,863	47,134				50,987
Private gifts, grants and contracts ........................	5,736	30,475	31	377	$ 241	36,860
Sales and services ......................................	176,563	95				176,658
Investment income .....................................	17,983	1,707	150	1,455	903	22,198
Realized gains on endowment investments .................					1,978	1,978
Gain on disposal of plant assets ..........................				3,141		3,141
Interest on loans receivable ..............................			1,174			1,174
Proceeds of refunding bonds ..............................				69,273		69,273
Gain on early extinguishment of debt .....................				837		837
Other .................................................	4,449	7	34	236		4,726
Total revenues and other additions ...................	492,667	213,112	3,164	76,505	3,122	788,570
Expenditures and other deductions:
Educational and general:
	374,267	14,489				388,756
Research ............................................	45,836	103,538				149,374
Public service ........................................	21,157	9,337				30,494
Academic support .....................................	77,677	1,582				79,259
Student services ......................................	49,095	1,437	200			50,732
Institutional support ..................................	110,545	1,754				112,299
Scholarships and fellowships ............................	20,940	36,112	30		6	57,088
Operation and maintenance of plant .....................	85,330	116		1,736		87,182
Auxiliary enterprises ...................................	131,666	186				131,852
Hospital ..............................................	9,251	35,069				44,320
Loan cancellations, write-offs and refunds ..................			324			324
Disposal of property, plant and equipment. .................				37,025		37,025
Interest on indebtedness .................................				9,424		9,424
Payments to refunded bond escrow agent ...................				70,363		70,363
Other .................................................			13	1,233	205	1,451
Total expenditures and other deductions ...............	925,764	203,620	567	119,781	211	1,249,943
Excess (deficiency) of revenues and other
additions over expenditures and other
deductions .......................................	(433,097)	9,492	2,597	(43,276)	2,911	(461,373)
Higher Education interfund transfers —
in (out):
Mandatory:
Principal and interest on revenue bonds ..................	(18,657)	(152)		18,809
Loan fund matching grant ..............................	(186)		186
Non-mandatory:
Remodeling, renewals and replacements ..................	(86,620)	(8,242)		94,862
Other ...............................................	(427)	132	295
Total Higher Education interfund transfers ............	(105,890)	(8,262)	481	113,671
Operating transfer from State's general and
capital projects funds. ...................................	551,162			46,993		598,155
Net increase in fund balances ........................	12,175	1,230	3,078	117,388	2,911	136,782
Fund balances, July 1, 1988 ...............................	10,998	2,522	34,190	1,327,900	38,476	1,414,086
Fund balances, June 30, 1989 ..............................	$ 23,173	$ 3,752	$37,268	$1,445,288	$41,387	$1,550,868

The accompanying notes to general purpose financial statements are an integral part of these financial statements.

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