STATE OF MARYLAND

Combined Statement of Revenues, Expenses and

Changes in Retained Earnings/Fund Balances

Enterprise Funds and Pension Trust Fund

for the year ended June 30,1990

(Expressed in Thousands)

		Fiduciary
	Proprietary	Fund Type	Total
	Fund Type	Pension	(Memorandum
	Enterprise	Trust Fund	Only)
Operating revenues:
Lottery ticket sales ...............................................................	$811,477		$ 811,477
Charges for services and sales ......................................................	170,374		170,374
Contributions ....................................................................		$ 705,625	705,625
Interest and other investment income ................................................	203,830	1,137,825	1,341,655
Other ..........................................................................	46,791		46,791
Total operating revenues .......................................................	1,232,472	1,843,450	3,075,922
Operating expenses:
Prizes and claims .................................................................	406,348		406,348
Commissions and bonuses .........................................................	41,832		41,832
Cost of sales and services ..........................................................	52,307		52,307
Operation and maintenance of facilities ..............................................	112,129		112,129
General and administrative ........................................................	68,340	14,308	82,648
Interest ......................................................................	149,530		149,530
Depreciation and amortization ......................................................	5,446		5,446
Benefit payments and refunds ......................................................		668,209	668,209
Provision for insurance and loan losses ...............................................	(36,442)		(36,442)
Other ..........................................................................	2,340		2,340
Total operating expenses .......................................................	801,830	682,517	1,484,347
Operating income .............................................................	430,642	1,160,933	1,591,575
Non-operating revenues (expenses):
Investment income ...............................................................	11,679		11,679
Interest expense .................................................................	(21,167)		(21,167)
Operating grants .................................................................	43,736		43,736
Other ..........................................................................	4,207		4,207
Operating income before transfers ...............................................	469,097	1,160,933	1,630,030
Operating transfers in ..............................................................	164,429		164,429
Operating transfers out .............................................................	(377,294)		(377,294)
Net income ..................................................................	256,232	1,160,933	1,417,165
Add: Depreciation of cost of assets acquired from contributed capital .......................	1,313		1,313
Increase in retained earnings/fund balance .............................................	257,545	1,160,933	1,418,478
Retained earnings/fund balance, July 1, 1989 ...........................................	884,872	9,090,704	9,975,576
Retained earnings/fund balance, June 30, 1990 ..........................................	$1,142,417	$10,251,637	$11,394,054

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

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