STATE OF MARYLAND
Statement of Revenues, Expenditures, Interfund Transfers,
Operating Transfers and Changes in Fund Balances
Higher Education Fund
for the year ended June 30,1990
(Expressed in Thousands)
|
Current
|
Funds
|
|
|
Endowment
|
|
|
Unrestricted
|
Restricted
|
Loan Funds
|
Plant Funds
|
Funds
|
Total
|
Revenues and other additions:
|
|
|
|
|
|
|
Student tuition and fees ........................
|
$281,857
|
|
|
$477
|
|
$ 282,334
|
Federal grants and contracts ....................
|
28,900
|
$152,143
|
$1,606
|
98
|
|
182,747
|
State and local grants and contracts ..............
|
3,475
|
57,171
|
|
|
|
60,646
|
Private gifts, grants and contracts ...............
|
7,340
|
27,414
|
82
|
1,796
|
$ 416
|
37,048
|
Sales and services .............................
|
194,950
|
41
|
|
|
|
194,991
|
Investment income ............................
|
21,638
|
2,497
|
119
|
4,145
|
606
|
29,005
|
Realized gains on endowment investments .........
|
|
|
|
|
7,582
|
7,582
|
Gain on disposal of plant assets ..................
|
|
|
|
866
|
|
866
|
Interest on loans receivable .....................
|
|
|
1,458
|
|
|
1,458
|
Other .......................................
|
5,734
|
11
|
84
|
839
|
|
6,668
|
Total revenues ............................
|
543,894
|
239,277
|
3,349
|
8,221
|
8,604
|
803,345
|
Expenditures and other deductions:
|
|
|
|
|
|
|
Educational and general:
|
|
|
|
|
|
|
Instruction .................................
|
418,432
|
15,034
|
|
|
|
433,466
|
Research ...................................
|
55,402
|
116,172
|
|
|
|
171,574
|
Public service ...............................
|
31,844
|
9,188
|
|
|
|
41,032
|
Academic support ...........................
|
91,909
|
1,649
|
|
|
|
93,558
|
Student services ............................
|
55,756
|
1,533
|
287
|
|
|
57,576
|
Institutional support .........................
|
127,976
|
1,237
|
|
|
|
129,213
|
Scholarships and fellowships ..................
|
26,279
|
38,034
|
24
|
|
20
|
64,357
|
Operation and maintenance of plant ............
|
111,034
|
33
|
|
1,393
|
|
112,460
|
Auxiliary enterprises ..........................
|
140,083
|
260
|
|
|
|
140,343
|
Hospital .....................................
|
5,299
|
48,082
|
|
|
|
53,381
|
Loan cancellations, write-offs and refunds .........
|
|
|
(450)
|
|
|
(450)
|
Disposal of property, plant and equipment .........
|
|
|
|
31,179
|
|
31,179
|
Interest on indebtedness .......................
|
|
|
|
11,412
|
|
11,412
|
Other .......................................
|
|
|
38
|
48
|
250
|
336
|
Total expenditures and other deductions .......
|
1,064,014
|
231,222
|
(101)
|
44,032
|
270
|
1,339,437
|
Excess (deficiency) of revenues and other
|
|
|
|
|
|
|
additions over expenditures and other
|
|
|
|
|
|
|
deductions ..............................
|
(520,120)
|
8,055
|
3,450
|
(35,811)
|
8,334
|
(536,092)
|
Higher Education interfund transfers? in (out):
|
|
|
|
|
|
|
Mandatory:
|
|
|
|
|
|
|
Principal and interest on revenue bonds .........
|
(20,092)
|
(148)
|
|
20,240
|
|
|
Loan fund matching grant ....................
|
(205)
|
|
205
|
|
|
|
Non-mandatory:
|
|
|
|
|
|
|
Remodeling, renewals and replacements .........
|
(101,217)
|
(7,899)
|
|
109,116
|
|
|
Other .....................................
|
222
|
|
(295)
|
73
|
|
|
Total Higher Education interfund transfers
|
(121,292)
|
(8,047)
|
(90)
|
129,429
|
|
|
Operating transfer from State's general and capital
|
|
|
|
|
|
|
projects funds ................................
|
650,095
|
|
|
72,756
|
|
722,851
|
Net increase in fund balances ................
|
8,683
|
8
|
3,360
|
166,374
|
8,334
|
186,759
|
Fund balances, July 1, 1989 .......................
|
23,173
|
3,752
|
37,268
|
1,445,288
|
41,387
|
1,550,868
|
Fund balances, June 30, 1990 .....................
|
$ 31,856
|
$ 3,760
|
$40,628
|
$1,611,662
|
$49,721
|
$1,737,627
|
The accompanying notes to general purpose financial statements are an integral part of these financial statements.
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