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