STATE OF MARYLAND

Combined Statement of Revenues, Expenses and

Changes in Retained Earnings/Fund Balances

Enterprise Funds and Pension Trust Funds

for the year ended June 30,1992

(Expressed in Thousands)

		Fiduciary
	Proprietary	Fund Type	Total
	Fund Type	Pension	(Memorandum
	Enterprise	Trust Funds	Only)
Operating revenues:
Lottery ticket sales ..............................................................	$ 812,273		$ 812,273
Charges for services and sales ......................................................	185,557		185,557
Contributions ...................................................................		$ 787,979	787,979
Interest and other investment income ...............................................	217,494	1,331,940	1,549,434
Other ..........................................................................	36,853		36,853
Total operating revenues ......................................................	1,252,177	2,119,919	3,372,096
Operating expenses:
Prizes and claims ................................................................	394,273		394,273
Commissions and bonuses .........................................................	41,493		41,493
Cost of sales and services ..........................................................	57,732		57,732
Operation and maintenance of facilities ..............................................	97,526		97,526
General and administrative ........................................................	69,681	16,145	85,826
Interest ........................................................................	178,362		178,362
Depreciation and amortization .....................................................	12,197		12,197
Benefit payments and refunds .....................................................		700,465	700,465
Provision for insurance and loan losses ..............................................	27,763		27,763
Other ..........................................................................	4,908		4,908
Total operating expenses ......................................................	883,935	716,610	1,600,545
Operating income .............................................................	368,242	1,403,309	1,771,551
Non-operating revenues (expenses):
Investment income ...............................................................	7,101		7,101
Interest expense .................................................................	(27,341)		(27,341)
Operating grants ................................................................	35,961		35,961
Other ..........................................................................	7,740		7,740
Operating income before transfers ...............................................	391,703	1,403,309	1,795,012
Operating transfers in ..............................................................	20,141		20,141
Operating transfers out .............................................................	(354,116)		(354,116)
Net income ..................................................................	57,728	1,403,309	1,461,037
Add: Depreciation of cost of assets acquired from contributed capital .......................	1,215		1,215
Increase in retained earnings/fund balance .............................................	58,943	1,403,309	1,462,252
Retained earnings/fund balance, July 1, 1991 ...........................................	1,246,084	11,330,785	12,576,869
Retained earnings/fund balance, June 30, 1992 .........................................	$1,305,027	$12,734,094	$14,039,121

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

29