STATE OF MARYLAND

Combined Statement of Cash Flows

Enterprise Funds
for the year ended June 30,1993

(Expressed in Thousands)

Cash flows from operating activities:
Operating income .........................................................................		$ 297,973
Adjustments to reconcile operating income to net cash provided by (used by) operating activities:
Depreciation and amortization ............................................ . . ...............	$ 14,652
Gain on disposal of property, plant and equipment .............................................	(19)
Changes in assets and liabilities:
Decrease (increase) in assets:
Intergovernmental receivables .........................................................	2,065
Other accounts receivable .............................................................	(3,811)
Due from other funds .................................................................	8,566
Inventories .........................................................................	396
Loans and notes receivable ............................................................	(126,762)
Other assets .........................................................................	(16,810)
Increase (decrease) in liabilities:
Accounts payable and accrued liabilities ..................................................	8,871
Due to other funds ...................................................................	(124)
Accrued insurance and loan losses .......................................................	637
Other liabilities ......................................................................	(2,145)
Deferred revenue ....................................................................	571
Accrued workers' compensation costs ...................................................	169
Accrued annual leave .................................................................	(10)
Total adjustments ..................................................................		(113,754)
Net cash provided by operating activities .................................................		184,219
Cash flows from noncapital financing activities:
Increase in lottery prizes ...................................................................	73,563
Lottery prize installment payments ..........................................................	(38,797)
Proceeds from sale of revenue bonds .........................................................	282,442
Principal paid on revenue bonds .............................................................	(248,875)
Operating grants received ..................................................................	31,090
Operating transfers in .....................................................................	21,616
Operating transfers out ....................................................................	(335,420)
Contributed capital ........................................................................	53,870
Residual equity transfer ....................................................................	(4,400)
Net cash used by noncapital financing activities ............................................		(164,911)
Cash flows from capital and related financing activities:
Proceeds from notes payable and revenue bonds ................................................	16,954
Principal paid on notes payable and revenue bonds ..............................................	(3,643)
Decrease in loans from other funds ...........................................................	(189)
Interest payments .........................................................................	(15,632)
Acquisition and construction of property, plant and equipment ....................................	(21,780)
Decrease in restricted assets ................................................................	7,580
Payment of capital lease obligations ..........................................................	(3,685)
Net cash used by capital and related financing activities .....................................		(20,395)
Cash flows from investing activities:
Purchase of investments ...................................................................	(3,963,014)
Proceeds from maturity and sale of investments ................................................	3,975,655
Interest and gains on investments ............................................................	1,981
Decrease in deposits .......................................................................	11,772
Other ...................................................................................	18
Net cash provided by investing activities .................................................		26,412
Net increase in cash and cash equivalents .................................................		25,325
Cash and cash equivalents balance, July 1, 1992 ..................................................		371,133
Cash and cash equivalents balance, June 30, 1993 .................................................		$ 396,458

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

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