|
obligations, along with the present value of the related net minimum payments as of June 30, 1991 (amounts
expressed in thousands):
|
Years Ending
|
|
|
June 30,
|
Amount
|
|
1992 ...........................................................................
|
$6,548
|
|
1993 ...........................................................................
|
5,415
|
|
1994 ...........................................................................
|
4,939
|
|
1995 ...........................................................................
|
4,611
|
|
1996 ...........................................................................
|
4,447
|
|
1997 and thereafter ..............................................................
|
87,808
|
|
Total future minimum payments ....................................................
|
113,768
|
|
Less amount representing interest ..................................................
|
75,229
|
|
Present value of net minimum lease payments .........................................
|
$38,539
|
13. Contributed Capital:
The changes in contributed capital of the enterprise funds for the year ended June 30, 1991, are as follows
(amounts expressed in thousands):
|
|
Economic
|
Development
|
Maryland
|
Maryland
|
Maryland
|
|
|
|
|
Insurance
|
Loan
|
Food Center
|
Transportation
|
Environmental
|
State Use
|
|
|
|
Programs
|
Programs
|
Authority
|
Authority
|
Service
|
Industries
|
Total
|
|
Balance, July 1, 1990 ...............
|
$70,545
|
$183,625
|
|
$763,785
|
$10,779
|
$ 770
|
$1,029,504
|
|
Contributions .....................
|
|
107,935
|
$485
|
|
|
927
|
109,347
|
|
Depreciation on contributed assets . . .
|
|
|
|
|
(1,191)
|
(111)
|
(1,302)
|
|
Disposals ........................
|
|
(1,533)
|
|
|
(60)
|
|
(1,593)
|
|
Balance, June 30, 1991 .............
|
$70,545
|
$290,027
|
$485
|
$763,785
|
$9,528
|
$1,586
|
$1,135,956
|
14. Segment Information—Enterprise Funds:
Activity segments included in enterprise funds are described in Note1B. Selected financial information with
respect to these segments as of and for the year ended June 30, 1991, is as follows (amounts expressed in
thousands):
|
|
|
|
Warehouse
Development
|
Toll
Facilities
(Maryland
|
Segments
|
Water
Supply
|
|
Student
Loan
|
Savings
and
Loan
|
|
|
|
Insurance
|
Loan
|
and
|
Transportation
|
|
Waste
|
|
Insurance
|
Deposit
|
Stadium
|
|
|
Programs
|
Programs
|
Rentals
|
Authority)
|
Lottery
|
Disposal
|
Manufacturing
|
Program
|
Insurance
|
Authority
|
|
Operating revenues .......
|
. $15,027
|
$ 244,056
|
$3,036
|
$118,501
|
$813,350
|
$25,419
|
$15,601
|
$15,491
|
$16,587
|
$1,088
|
|
Depreciation and
|
|
|
|
|
|
|
|
|
|
|
|
amortization ...........
|
51
|
1,392
|
427
|
454
|
514
|
2,118
|
655
|
19
|
|
46
|
|
Operating income (loss)
|
(1,068)
|
28,340
|
209
|
49,613
|
334,138
|
(233)
|
(1,133)
|
(39,243)
|
35,851
|
(274)
|
|
Operating grants .........
|
|
21,638
|
|
|
|
|
|
40,048
|
|
|
|
Operating interfund
|
|
|
|
|
|
|
|
|
|
|
|
transfers:
|
|
|
|
|
|
|
|
|
|
|
|
In ...................
|
|
|
|
|
|
|
|
|
|
24,004
|
|
Out ..................
|
(9,843)
|
(8,074)
|
|
|
(338,953)
|
|
|
|
(32,300)
|
|
|
Net income (loss) ........
|
. (10,911)
|
41,904
|
129
|
46,826
|
(4,815)
|
(343)
|
(1,155)
|
805
|
3,551
|
24,579
|
|
Current capital
|
|
|
|
|
|
|
|
|
|
|
|
contributions ..........
|
|
107,935
|
485
|
|
|
|
927
|
|
|
|
|
Property, plant, and
|
|
|
|
|
|
|
|
|
|
|
|
equipment:
|
|
|
|
|
|
|
|
|
|
|
|
Additions .............
|
15
|
17
|
852
|
32,413
|
20,120
|
6,735
|
1,713
|
|
|
5
|
|
Deletions .............
|
|
33
|
|
|
590
|
|
25
|
|
|
|
|
Total assets .............
|
. 169,510
|
2,711,902
|
24,511
|
2,052,946
|
342,368
|
44,768
|
14,051
|
24,622
|
344,514
|
251,658
|
|
Bonds and other long-term
|
|
|
|
|
|
|
|
|
|
|
|
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
Payable from operating
|
|
|
|
|
|
|
|
|
|
|
|
revenues ............
|
|
2,099,062
|
4,725
|
275,050
|
|
22,176
|
|
|
|
155,000
|
|
Total capital ............
|
. 133,982
|
500,160
|
12,628
|
1,755,105
|
652
|
12,209
|
11,011
|
7,466
|
6,530
|
84,726
|
15. State of Maryland Deposit Insurance Fund Corporation:
In 1985, the Maryland General Assembly enacted legislation creating the State of Maryland Deposit
Insurance Fund Corporation (MDIFC), an agency of the State of Maryland Department of Licensing and
Regulation and the successor by statutory merger to Maryland Savings Share Insurance Corporation (MSSIC).
All savings and loan associations that were members of MSSIC automatically became members of MDIFC. The
legislation establishing MDIFC provides that: "It is the policy of this State that funds will be appropriated to the
(Maryland Deposit Insurance) Fund to the extent necessary to protect holders of savings accounts in member
associations." The enabling legislation required all member associations to obtain alternative insurance or
53
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