|
8. Property, Plant and Equipment:
Property, plant and equipment, as of June 30, 1989, consisted of the following (amounts expressed in
thousands):
Enterprise Funds:
|
|
|
Non-
|
|
|
Depreciable
|
depreciable
|
|
|
Assets
|
Assets
|
|
Land and improvements (includes land being held for
|
|
|
|
sale of $2,450) .................................
|
|
$ 5,453
|
|
Structure and improvements ......................
|
$37,185
|
1,805,399
|
|
Equipment .....................................
|
29,097
|
535
|
|
|
66,282
|
1,811,387
|
|
Less accumulated depreciation ..................
|
36,265
|
|
|
Total .....................................
|
$30,017
|
$1,811,387
|
|
General Fixed Assets:
|
|
|
General fixed assets activity by asset classification for the year ended June 30, 1989, was as follows
(amounts expressed in thousands):
|
|
Balance
|
|
|
Transfers
|
Balance
|
|
Classification
|
July 1, 1988
|
Additions
|
Deletions
|
in (out)
|
June 30, 1989
|
|
Land and improvements .......................
|
......... $ 559,658
|
$ 17,194
|
$ 31
|
$ 34,419
|
$ 611,240
|
|
Structure and improvements ...................
|
......... 2,159,608
|
48,436
|
10,064
|
106,534
|
2,304,514
|
|
Equipment ..................................
|
......... 715,780
|
76,091
|
52,634
|
9,640
|
748,877
|
|
Construction in progress ......................
|
......... 290,275
|
120,066
|
|
(150,593)
|
259,748
|
|
Total .....................................
|
......... $3,725,321
|
$261,787
|
$62,729
|
$ -0-
|
$3,924,379
|
|
Higher Education Fund:
|
|
|
|
|
|
Property, plant and equipment, as of June 30, 1989, consisted of the following (amounts expressed in
thousands):
|
Land .....................
|
|
............................$ 56,179
|
|
Building and improvements . .
|
|
............................ 983,271
|
|
Contents ..................
|
|
............................ 432,869
|
|
Construction in progress .....
|
|
............................ 73,295
|
|
Total ....................
|
|
............................$1,545,614
|
9. General Obligation Bonds:
General obligation bonds are authorized and issued primarily to provide funds for state owned capital
improvements, including facilities for institutions of higher learning, and the construction of public schools
in political subdivisions. Bonds have also been issued for local government improvements, including grants
and loans for water quality improvement projects and correctional facilities, and to provide funds for
repayable loans or outright grants to private, not-for-profit cultural or educational institutions. Under
constitutional requirements and practice, the Maryland General Assembly, by a separate enabling act,
authorizes a loan for a particular object or purpose. Thereafter, the Board of Public Works, a constitutional
body composed of the Governor, the Comptroller of the Treasury and the State Treasurer, by resolution,
authorizes the issuance of bonds in a specified amount for part or all of the loan authorized by a particular
enabling act.
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