STATE OF MARYLAND
Statement of Changes in Fund Balances
Higher Education Fund
for the year ended June 30,1993
(Expressed in Thousands)
|
Current
|
Funds
|
|
Endowment
|
|
|
Unrestricted
|
Restricted
|
Loan Funds
|
Funds
|
Plant Funds
|
Revenues and other additions:
|
|
|
|
|
|
Unrestricted current fund revenues .............................
|
$ 80,130
|
|
|
|
|
Education and general revenues ................................
|
422,825
|
|
|
|
$ 677
|
Auxiliary enterprises revenues .................................
|
213,878
|
|
|
|
|
Federal grants and contracts— restricted ........................
|
|
$276,988
|
|
|
89
|
State grants and contracts— restricted ..........................
|
|
712
|
|
|
|
Private gifts, grants and contracts ..............................
|
|
64,754
|
$ 71
|
$ 532
|
3,712
|
Endowment income ..........................................
|
|
|
|
15
|
|
Investment income ...........................................
|
|
2,645
|
45
|
19
|
1,068
|
Realized gain on investments ..................................
|
|
|
|
2,775
|
|
Gain on disposal of plant assets .................................
|
|
|
|
|
323
|
Interest on loans receivable ....................................
|
|
|
1,223
|
|
|
U.S. Government advances ....................................
|
|
|
1,512
|
|
|
Retirement of indebtedness ...................................
|
|
|
|
|
25,156
|
Expended for plant facilities (including $51,648 charged to current
|
|
|
|
|
|
funds expenditures) ........................................
|
|
|
|
|
211,269
|
Other ......................................................
|
|
1,329
|
68
|
|
1,348
|
Total revenues and other additions ..........................
|
716,833
|
346,428
|
2,919
|
3,341
|
243,642
|
Expenditures and other deductions:
|
|
|
|
|
|
Educational and general expenditures ...........................
|
1,010,485
|
306,574
|
|
|
|
Auxiliary enterprises expenditures .............................
|
178,693
|
1,083
|
|
|
|
Indirect cost recovered .......................................
|
|
45,017
|
|
|
|
Loan cancellations, write-offs and refunds, net of recoveries ........
|
|
|
1,486
|
|
|
Retirement of indebtedness ...................................
|
|
|
|
|
25,156
|
Interest on indebtedness ......................................
|
|
|
|
|
17,039
|
Expended for plant facilities (including noncapitalized expenditures of
|
|
|
|
|
|
$11,484) ..................................................
|
|
|
|
|
171,105
|
Disposal of property, plant and equipment .......................
|
|
|
|
|
36,785
|
Other ......................................................
|
|
|
1,037
|
272
|
843
|
Total expenditures and other deductions ......................
|
1,189,178
|
352,674
|
2,523
|
272
|
250,928
|
Net increase (decrease) in fund balances before transfers ........
|
(472,345)
|
(6,246)
|
396
|
3,069
|
(7,286)
|
Transfers among funds— additions (deductions):
|
|
|
|
|
|
Mandatory:
|
|
|
|
|
|
Debt service ...............................................
|
(48,811)
|
(724)
|
|
|
49,535
|
Loan fund matching grant ...................................
|
(170)
|
4
|
166
|
|
|
Non-mandatory:
|
|
|
|
|
|
Remodeling, renewals and replacements .......................
|
(37,668)
|
(494)
|
|
250
|
37,912
|
Other ....................................................
|
(3,146)
|
(249)
|
|
404
|
2,991
|
Total transfers among funds ...............................
|
(89,795)
|
(1,463)
|
166
|
654
|
90,438
|
Operating transfer from State's general and capital projects funds .....
|
584,009
|
10,037
|
|
|
56,847
|
Net increase in fund balances ...............................
|
21,869
|
2,328
|
562
|
3,723
|
139,999
|
Fund balances, July 1, 1992 .....................................
|
31,811
|
17,032
|
48,957
|
52,698
|
2,018,604
|
Fund balances, June 30, 1993 ....................................
|
$ 53,680
|
$ 19,360
|
$49,519
|
$56,421
|
$2,158,603
|
The accompanying notes to general purpose financial statements are an integral part of these financial statements.
32
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