STATE OF MARYLAND

Statement of Revenues, Expenses, Interfund Transfers,
Operating Transfers and Changes in Fund Balances

Higher Education Fund
for the year ended June 30,1991

(Expressed in Thousands)

	Current	Funds			Endowment
	Unrestricted	Restricted	Loan Funds	Plant Funds	Funds	Total
Revenues and other additions:
Student tuition and fees ........................	$ 307,172			$ 282		$ 307,454
Federal grants and contracts ....................	31,810	$172,718	$1,365	89	$ 200	206,182
State and local grants and contracts ..............	3,849	56,085	691	1,035		61,660
Private gifts, grants and contracts ...............	8,150	32,932	113	3,513	724	45,432
Sales and services .............................	209,926	38				209,964
Investment income ............................	19,396	2,298	128	4,400	605	26,827
Realized loss on endowment investments ..........					(1,110)	(1,110)
Gain on disposal of plant assets ..................				420		420
Interest on loans receivable .....................			1,294			1,294
Other .......................................	7,473	1,191	132	598		9,394
Total revenues and other additions ............	587,776	265,262	3,723	10,337	419	867,517
Expenditures and other deductions:
Educational and general:
Instruction .................................	466,739	23,022				489,761
Research ...................................	67,876	140,286				208,162
Public service ...............................	34,286	10,173				44,459
Academic support ...........................	96,504	1,835				98,339
Student services ............................	57,559	1,683	166			59,408
Institutional support .........................	126,981	1,526				128,507
Scholarships and fellowships ..................	30,071	31,093				61,164
Operation and maintenance of plant ............	94,599	42	21	2,297		96,959
Auxiliary enterprises ..........................	152,382	213				152,595
Hospital .....................................	5,120	44,134				49,254
Loan cancellations, write-offs and refunds .........			(1,691)			(1,691)
Disposal of property, plant and equipment .........				22,171		22,171
Interest on indebtedness .......................				17,443		17,443
Other .......................................	27	1,305	14	662	297	2,305
Total expenditures and other deductions .......	1,132,144	255,312	(1,490)	42,573	297	1,428,836
Excess (deficiency) of revenues and other
additions over expenditures and other
deductions ..............................	(544,368)	9,950	5,213	(32,236)	122	(561,319)
Higher Education interfund transfers? in (out):
Mandatory:
Principal and interest on revenue bonds .........	(29,673)	(177)		29,850
Loan fund matching grant ....................	(156)		156
Non-mandatory:
Remodeling, renewals and replacements .........	(105,815)	(10,677)		116,492
Other .....................................	(22,259)	1,016	13	21,187	43
Total Higher Education interfund transfers ....	(157,903)	(9,838)	169	167,529	43
Operating'transfer from State's general and capital
projects funds ................................	651,514			75,951		727,465
Excess of restricted receipts over transfers to revenue		13,858				13,858
Net increase (decrease) in fund balances .......	(50,757)	13,970	5,382	211,244	165	180,004
Fund balances, July 1, 1990 .......................	31,856	3,760	40,628	1,611,662	49,721	1,737,627
Additon of New Community College of Baltimore to
the reporting entity ...........................	3,597	48	605	31,328		35,578
Fund balances (deficit), June 30, 1991 ..............	$(15,304)	$17,778	$46,615	$1,854,234	$49,886	$1,953,209

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

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