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 30,1991

(Expressed in Thousands)

		Fiduciary
	Proprietary	Fund Type	Total
	Fund Type	Pension	(Memorandum
	Enterprise	Trust Fund	Only)
Operating revenues:
Lottery ticket sales ...............................................................	$ 813,350		$ 813,350
Charges for services and sales ......................................................	170,831		170,831
Contributions ....................................................................		$ 748,098	748,098
Interest and other investment income ................................................	221,694	1,098,495	1,320,189
Other ..........................................................................	62,281		62,281
Total operating revenues .......................................................	1,268,156	1,846,593	3,114,749
Operating expenses:
Prizes and claims .................................................................	408,012		408,012
Commissions and bonuses .........................................................	41,616		41,616
Cost of sales and services ..........................................................	60,173		60,173
Operation and maintenance of facilities ..............................................	111,399		111,399
General and administrative ........................................................	71,331	15,064	86,395
Interest ........................................................................	165,920		165,920
Depreciation and amortization ......................................................	5,676		5,676
Benefit payments and refunds ......................................................		757,808	757,808
Provision for insurance and loan losses ...............................................	(7,769)		(7,769)
Other ..........................................................................	5,598		5,598
Total operating expenses .......................................................	861,956	772,872	1,634,828
Operating income .............................................................	406,200	1,073,721	1,479,921
Non-operating revenues (expenses):
Investment income ...............................................................	9,512		9,512
Interest expense .................................................................	(21,229)		(21,229)
Operating grants .................................................................	61,686		61,686
Other ..........................................................................	9,567		9,567
Operating income before transfers ...............................................	465,736	1,073,721	1,539,457
Operating transfers in ..............................................................	24,004		24,004
Operating transfers out .............................................................	(389,170)		(389,170)
Net income ..................................................................	100,570	1,073,721	1,174,291
Add: Depreciation of cost of assets acquired from contributed capital .......................	1,302		1,302
Increase in retained earnings/fund balance .............................................	101,872	1,073,721	1,175,593
Retained earnings/fund balance, July 1, 1990 ...........................................	1,142,417	10,251,637	11,394,054
Retained earnings/fund balance, June 30, 1991 ..........................................	$1,244,289	$11,325,358	$12,569,647

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

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