|
5. Taxes Receivable:
Taxes receivable, as of June 30,1991, consisted of the following (amounts expressed in thousands):
|
|
|
Funds
|
|
|
|
|
|
Special
|
Debt
|
Trust and
|
|
|
General
|
Revenue
|
Service
|
Agency
|
|
Income taxes ......................................................
|
........ $323,638
|
|
|
|
|
Sales and use taxes .................................................
|
........ 137,010
|
|
|
|
|
Transportation taxes, principally motor vehicle fuel and excise .............
|
|
$46,528
|
|
|
|
Unemployment compensation taxes ...................................
Other taxes, principally alcohol, tobacco and property .....................
|
........ 4,472
|
|
$3,558
|
$62,919
|
|
|
465,120
|
46,528
|
3,558
|
62,919
|
|
Less allowance for doubtful accounts ..................................
|
........ 648
|
|
|
14,747
|
|
Taxes receivable, net ...............................................
|
........ $464,472
|
$46,528
|
$3,558
|
$48,172
|
6. Due From/To Other Funds:
Interfund receivables and payables, as of June 30, 1991, consisted of the following (amounts expressed in
thousands):
|
Receivable Fund
|
Payable Fund
|
Amount
|
|
General fund
|
Special revenue fund
|
$1,659
|
|
|
Enterprise funds— Maryland State Lottery Agency
|
25,712
|
|
|
—Maryland Deposit Insurance Fund Corporation
|
12,000
|
|
|
Agency funds— Local admissions and amusement taxes
|
1,166
|
|
Special revenue fund
|
General fund
|
21,183
|
|
|
Agency funds— Refunded transportation debt
|
111
|
|
Debt service funds-
|
|
|
|
Transportation bonds
|
Special revenue fund
|
1,036
|
|
Agency funds-
|
|
|
|
Local income taxes
|
General fund
|
168,840
|
|
Enterprise Funds-
|
|
|
|
Economic Development— Insurance Programs
|
General fund
|
56,501
|
|
—Loan Programs
|
General fund
|
81,223
|
|
|
Enterprise funds-
|
|
|
|
Economic Development— Insurance Programs
|
10,912
|
|
Maryland Transportation Authority
|
Special revenue fund
|
8,597
|
|
Maryland Higher Education Loan Corporation
|
General fund
|
17,394
|
|
Higher Education
|
General fund
|
167,292
|
|
|
|
$573,626
|
7. Loans and Notes Receivable:
Loans and notes receivable, as of June 30,1991, consisted of the following (amounts expressed in thousands):
|
|
|
Funds
|
|
|
|
|
Debt
|
Capital
|
|
Higher
|
|
|
General Service
|
Projects
|
Enterprise
|
Education
|
|
Notes receivable for advances of general obligation bond proceeds:
|
|
|
|
|
|
Political subdivisions:
|
|
|
|
|
|
Water quality projects .......................................
|
$15,433
|
|
|
|
|
Public school construction ....................................
|
3,686
|
|
|
|
|
Other .....................................................
|
4,261
|
|
|
|
|
Hospitals and nursing homes ...................................
|
29,137
|
|
|
|
|
Permanent mortgage loans ......................................
|
|
|
$1,840,261
|
|
|
Savings and loan association loans ................................
|
|
|
4,254
|
|
|
National direct student loans .....................................
|
|
|
|
$40,202
|
|
Health profession loans .........................................
|
|
|
|
7,691
|
|
Shore erosion loans .............................................
|
|
$15,077
|
|
|
|
Other ........................................................
|
$3,887 2,027
|
|
26,671
|
1,812
|
|
|
3,887 54,544
|
15,077
|
1,871,186
|
49,705
|
|
Less allowance for possible loan losses .............................
|
1,178
|
|
|
7,418
|
|
Loans and notes receivable, net ...................................
|
$3,887 $53,366
|
$15,077
|
$1,871,186
|
$42,287
|
Notes receivable for advances of general obligation bond proceeds bear interest at rates ranging from 3% to
9.19% and mature over the next 30 years. Notes receivable maturing after June 30, 1992 in the amount of
$49,809,000 are deemed to be not available for debt service because such amounts do not represent available
expendable financial resources. Accordingly, the amount has been reflected as a reservation of debt service fund
balance.
45
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