STATE OF MARYLAND

Combined Statement of Cash Flows

Enterprise Funds
for the year ended June 30,1992

(Expressed in Thousands)

Cash flows from operating activities:
Operating income .........................................................................		$ 368,242
Adjustments to reconcile operating income to net cash provided by (used by) operating activities:
Depreciation and amortization .............................................................	$ 12,197
Loss on disposal of property, plant and equipment .............................................	146
Changes in assets and liabilities:
Decrease (increase) in assets:
Intergovernmental receivables .........................................................	2,113
Other accounts receivable .............................................................	1,448
Due from other funds .................................................................	(15,101)
Inventories .........................................................................	261
Loans and notes receivable ............................................................	(96,296)
Other assets .........................................................................	212
Increase (decrease) in liabilities:
Accounts payable and accrued liabilities ..................................................	(9,002)
Due to other funds ...................................................................	(9,085)
Accrued insurance and loan losses .......................................................	(8,684)
Other liabilities ......................................................................	(17,395)
Deferred revenue ....................................................................	1,340
Liabilities payable from restricted assets .................................................	839
Accrued workers' compensation costs ...................................................	4,856
Accrued annual leave .................................................................	2,012
Total adjustments ..................................................................		(130,139)
Net cash provided by operating activities .................................................		238,103
Cash flows from noncapital financing activities:
Increase in lottery prizes ...................................................................	73,888
Lottery prize installment payments ..........................................................	(34,127)
Loans to other funds .......................................................................	(40,000)
Proceeds from sale of revenue bonds .........................................................	513,704
Principal paid on revenue bonds .............................................................	(192,517)
Operating grants received ..................................................................	35,961
Operating transfers in .....................................................................	20,141
Operating transfers out ....................................................................	(354,116)
Contributed capital ........................................................................	40,831
Residual equity transfers ...................................................................	(8,350)
Net cash provided by noncapital financing activities ........................................		55,415
Cash flows from capital and related financing activities:
Principal paid on notes payable and revenue bonds ..............................................	(3,662)
Decrease in loans from other funds ...........................................................	(71)
Interest payments .........................................................................	(24,622)
Acquisition and construction of property, plant and equipment ....................................	(110,684)
Decrease in restricted assets ................................................................	72,947
Payment of capital lease obligations ..........................................................	(2,945)
Net cash used by capital and related financing activities .....................................		(69,037)
Cash flows from investing activities:
Purchase of investments ...................................................................	(5,541,284)
Proceeds from maturity and sale of investments ................................................	5,420,658
Interest and gains on investments ............................................................	6,574
Decrease in loans and notes receivable ........................................................	239
Decrease in deposits .......................................................................	13,682
Other ...................................................................................	7,872
Net cash used by investing activities .....................................................		(92,259)
Net increase in cash and cash equivalents .................................................		132,222
Cash and cash equivalents balance, July 1, 1991 ..................................................		250,575
Cash and cash equivalents balance, June 30, 1992 .................................................		$ 382,797

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

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