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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