STATE OF MARYLAND

Statement of Revenues, Expenditures, Interfund Transfers,
Operating Transfers and Changes in Fund Balances

Higher Education Fund
for the year ended June 30,1992

(Expressed in Thousands)

	Current	Funds		Endowment
	Unrestricted	Restricted	Loan Funds	Funds	Plant Funds	Total
Revenues and other additions:
Student tuition and fees ........................	$ 354,647				$ 316	$ 354,963
Federal grants and contracts ....................	34,071	$195,123	$ 1,560	$ 200	285	231,239
State and local grants and contracts ..............	3,724	59,572			699	63,995
Private gifts, grants and contracts ...............	7,754	33,688	92	75	20,486	62,095
Sales and services .............................	237,606	146				237,752
Investment income ............................	12,269	3,578	61	45	2,441	18,394
Realized gain on endowment investments .........				1,313		1,313
Gain on disposal of plant assets ..................					1,700	1,700
Interest on loans receivable .....................			1,377			1,377
Expended for plant facilities (including $47,034
charged to current expenditures) ...............					158,860	158,860
Other .......................................	8,255	1,453	99		1,114	10,921
Total revenues and other additions ............	658,326	293,560	3,189	1,633	185,901	1,142,609
Expenditures and other deductions:
Educational and general:
Instruction .................................	454,743	21,067				475,810
Research ...................................	68,780	158,149				226,929
Public service ...............................	32,041	11,939				43,980
Academic support ...........................	106,759	2,166				108,925
Student services ............................	58,838	2,043	335			61,216
Institutional support .........................	131,374	1,596				132,970
Scholarships and fellowships ..................	33,864	44,068	33			77,965
Operation and maintenance of plant ............	98,164	38				98,202
Auxiliary enterprises ..........................	171,456	201				171,657
Hospital .....................................	3,742	45,814				49,556
Loan cancellations, write-offs and refunds .........			681			681
Disposal of property, plant and equipment .........					31,361	31,361
Interest on indebtedness .......................					14,123	14,123
Expended for plant facilities (including
noncapitalized expenditures of $10,398) .........					122,986	122,986
Other .......................................		1,368	13	342	879	2,602
Total expenditures and other deductions .......	1,159,761	288,449	1,062	342	169,349	1,618,963
Excess (deficiency) of revenues and other
additions over expenditures and other
deductions ..............................	(501,435)	5,111	2,127	1,291	16,552	(476,354)
Higher Education interfund transfers— in (out):
Mandatory:
Principal and interest on revenue bonds .........	(31,107)	(1,626)			32,733
Loan fund matching grant ....................	(212)	34	178
Non-mandatory:
Remodeling, renewals and replacements .........	(44,327)	(3,342)			47,669
Other .....................................	(1,951)	(6)	37	1,521	399
Total Higher Education interfund transfers ....	(77,597)	(4,940)	215	1,521	80,801
Operating transfer from State's general and capital
projects funds ................................	577,315				67,017	644,332
Excess of restricted receipts over transfers to revenue		(917)				(917)
Net increase (decrease) in fund balances .......	(1,717)	(746)	2,342	2,812	164,370	167,061
Fund balances, July 1, 1991 .......................	33,528	17,778	46,615	49,886	1,854,234	2,002,041
Fund balances, June 30, 1992 .....................	$ 31,811	$ 17,032	$48,957	$52,698	$2,018,604	$2,169,102

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

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