STATE OF MARYLAND
Combining Statement of Cash Flows
Enterprise Funds
for the year ended June 30,1991
(Expressed in Thousands)
I
I
|
Economic
Development
Insurance
Programs
|
Loan Programs
|
Maryland
Food
Center
Authority
|
Maryland
Transportation
Authority
|
Maryland
State
Lottery
Agency
|
Maryland
Environmental
Service
|
State Use
Industries
|
Maryland
Higher
Education
Loan
Corporation
|
Maryland
Deposit
Insurance
Fund
Corporation
|
Maryland
Stadium
Authority
|
Total
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss) .............
|
$(1,068) $
|
28,340 i
|
$209
|
$49,613
|
$334,138
|
$(233)
|
$(1,133)
|
$(39,243)
|
$35,851 $
|
(274) $
|
406,200
|
Adjustments to reconcile operating
income to net cash provided by (used
|
|
|
|
|
|
|
|
|
|
|
|
in) operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization ......
|
51
|
1,392
|
427
|
454
|
514
|
2,118
|
655
|
19
|
|
46
|
5,676
|
Changes in assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (increase) in assets:
|
|
|
|
|
|
|
|
|
|
|
|
Intergovernmental receivable . . .
|
|
(387)
|
344
|
|
|
612
|
|
(1,701)
|
|
|
(1,132)
|
Other accounts receivable ......
|
1,017
|
(3,067)
|
54
|
(68)
|
(3,100)
|
(1,662)
|
(590)
|
29
|
145
|
(997)
|
(8,239)
|
Due from other funds ..........
|
(56,501)
|
(90,490)
|
|
(8,597)
|
|
|
|
(17,394)
|
|
|
(172,982)
|
Inventories ..................
|
|
|
|
(39)
|
|
|
1,023
|
|
|
|
984
|
Loans and notes receivable .....
|
(8,614)
|
(270,478)
|
15
|
|
|
|
|
|
4,773
|
|
(274,304)
|
Loans to other funds...........
|
|
|
|
(25,000)
|
|
|
|
|
|
|
(25,000)
|
Other assets .................
|
(24)
|
2,986
|
|
(67)
|
13
|
565
|
(14)
|
|
|
144
|
3,603
|
Increase (decrease) in liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued
|
|
|
|
|
|
|
|
|
|
|
|
liabilities ...................
|
(16)
|
12,793
|
(451)
|
591
|
751
|
(807)
|
(65)
|
73
|
73
|
9,117
|
22,059
|
Due to other funds ............
|
9,267
|
|
|
|
4,749
|
|
|
|
(27,000)
|
|
(12,984)
|
Accrued insurance and loan
|
|
|
|
|
|
|
|
|
|
|
|
losses .....................
|
4,544
|
(62)
|
|
|
|
|
|
(85)
|
(25,000)
|
|
(20,603)
|
Other liabilities ...............
|
303
|
17,826
|
222
|
|
|
|
|
1,443
|
|
(2)
|
19,792
|
Deferred revenue .............
|
418
|
(244)
|
33
|
115
|
(311)
|
|
153
|
(34)
|
(111)
|
|
19
|
Liabilities payable from
|
|
|
|
|
|
|
|
|
|
|
|
restricted assets ............
|
|
|
|
(2,785)
|
|
|
|
|
|
|
(2,785)
|
Accrued retirement costs
|
182
|
(168)
|
(28)
|
|
|
(94)
|
(155)
|
|
(12)
|
(13)
|
(288)
|
Accrued workers' compensation
|
|
|
|
|
|
|
|
|
|
|
|
costs ......................
|
18
|
(U)
|
(16)
|
|
|
(84)
|
(8)
|
|
(2)
|
3
|
(100)
|
Accrued annual leave ..........
|
61
|
363
|
64
|
|
|
781
|
312
|
|
|
54
|
1,635
|
Net cash provided (used) by
|
|
|
|
|
|
|
|
|
|
|
|
operating activities............
|
(50,362)
|
(301,207)
|
873
|
14,217
|
336,754
|
1,196
|
178
|
(56,893)
|
(11,283)
|
8,078
|
(58,449)
|
Cash flows from noncapital financing
|
|
|
|
|
|
|
|
|
|
|
|
activities:
|
|
|
|
|
|
|
|
|
|
|
|
Increase in lottery prizes, net ........
|
|
|
|
|
44,159
|
|
|
|
|
|
44,159
|
Proceeds from sale of revenue bonds . .
|
|
273,652
|
|
|
|
|
|
|
|
|
273,652
|
Principal paid on revenue bonds ......
|
|
(92,523)
|
|
|
|
|
|
|
|
|
(92,523)
|
Operating grants received ...........
|
|
21,638
|
|
|
|
|
|
40,048
|
|
|
61,686
|
Operating transfers in ..............
|
|
|
|
|
|
|
|
|
|
24,004
|
24,004
|
Operating transfers out .............
|
(9,843)
|
(8,074)
|
|
|
(338,953)
|
|
|
|
(32,300)
|
|
(389,170)
|
Net cash provided (used) by
noncapital financing activities . . .
|
(9,843)
|
194,693
|
|
|
(294,794)
|
|
|
40,048
|
(32,300)
|
24,004
|
(78,192)
|
Cash flows from capital and related
|
|
|
|
|
|
|
|
|
|
|
|
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of revenue bonds . .
|
|
|
|
81,000
|
|
9,366
|
|
|
|
|
90,366
|
Defeasance of revenue bonds.........
|
|
|
|
(55,000)
|
|
|
|
|
|
|
(55,000)
|
Principal paid on notes payable and
|
|
|
|
|
|
|
|
|
|
|
|
revenue bonds ...................
|
|
|
(50)
|
(2,150)
|
|
(700)
|
|
|
|
|
(2,900)
|
Decrease in loans from other funds ....
|
|
|
(3,027)
|
|
|
|
|
|
|
|
(3,027)
|
Interest payments..................
|
|
|
(658)
|
(20,159)
|
|
(412)
|
|
|
|
|
(21,229)
|
Contributed capital.................
|
|
106,402
|
485
|
|
|
|
927
|
|
|
|
107,814
|
Acquisition and construction of
|
|
|
|
|
|
|
|
|
|
|
|
property, plant and equipment......
|
(15)
|
(17)
|
(852)
|
(32,413)
|
|
(6,735)
|
(1,713)
|
|
|
(5)
|
(41,750)
|
Proceeds from sale of property, plant
|
|
|
|
|
|
|
|
|
|
|
|
and equipment ...................
|
|
33
|
|
|
590
|
(60)
|
3
|
|
|
|
566
|
Increase in restricted assets .........
|
|
|
(421)
|
(2,295)
|
|
(3,308)
|
|
|
|
(28,989)
|
(35,013)
|
Net cash provided (used) by capital
|
|
|
|
|
|
|
|
|
|
|
|
and related financing activities . .
|
(15)
|
106,418
|
(4,523)
|
(31,017)
|
590
|
(1,849)
|
(783)
|
|
|
(28,994)
|
39,827
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of investments ............
|
(6,812)
|
(4,810,439)
|
|
(2,971)
|
(49,640)
|
|
|
(5)
|
|
|
(4,869,867)
|
Proceeds from maturity and sale of
|
|
|
|
|
|
|
|
|
|
|
|
investments .....................
|
59,741
|
4,432,424
|
|
2,941
|
5,506
|
|
|
|
113
|
|
4,500,725
|
Interest and gains on investments ....
|
|
|
578
|
7,799
|
|
286
|
|
|
|
849
|
9,512
|
Decrease in deposits, net ............
|
|
|
|
|
|
|
|
|
19,096
|
|
19,096
|
Other, net ........................
|
|
|
|
9,573
|
|
16
|
|
|
|
|
9,589
|
Net cash provided (used) by
|
|
|
|
|
|
|
|
|
|
|
|
investing activities ............
|
52,929
|
(378,015)
|
578
|
17,342
|
(44,134)
|
302
|
|
(5)
|
19,209
|
849
|
(330,945)
|
Net increase (decrease) in cash and
|
|
|
|
|
|
|
|
|
|
|
|
short-term investments ........
|
(7,291)
|
(378,111)
|
(3,072)
|
542
|
(1,584)
|
(351)
|
(605)
|
(16,850)
|
(24,374)
|
3,937
|
(427,759)
|
Unrestricted cash and short-term
|
|
|
|
|
|
|
|
|
|
|
|
investments balance, July 1, 1990 .....
|
97,647
|
471,906
|
7,861
|
8,780
|
33,029
|
6,086
|
4,587
|
16,850
|
25,201
|
6,387
|
678,334
|
Unrestricted cash and short-term
|
|
|
|
|
|
|
|
|
|
|
|
investments balance, June 30, 1991 . . .
|
$90,356 !
|
f 93,795
|
$4,789
|
$ 9,322
|
$ 31,445
|
$5,735
|
$3,982
|
$ -0-
|
$ 827
|
$10,324
|
$250,575
|
65
|
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