STATE OF MARYLAND

Combined Statement of Revenues, Expenses and

Changes in Retained Earnings/Fund Balances

Enterprise Funds, Pension Trust Funds and Component Unit Proprietary Funds

for the year ended June 30, 1994

(Expressed in Thousands)

			Total Primary		Total Reporting
			Government	Component Unit	Entity
	Enterprise	Pension	(Memorandum	Proprietary	(Memorandum
	Funds	Trust Funds	Only)	Funds	Only)
Operating revenues:
Lottery ticket sales ...............................................................	$ 983,976		$ 983,976		$ 983,976
Charges for services and sales ...........................................	43,603		43,603	$38,814	82,417
Contributions.........................................................................		$ 759,507	759,507		759,507
Interest and other investment income ..............................	..... 207,689	1,499,559	1,707,248	988	1,708,236
Other........................................................................................	26,499		26,499	18,872	45,371
Total operating revenues .............................................	..... 1,261,767	2,259,066	3,520,833	58,674	3,579,507
Operating expenses:
Prizes and claims ..................................................................	..... 507,473		507,473		507,473
Commissions and bonuses ..................................................	51,649		51,649		51,649
Cost of sales and services.......... .........................................	19,055		19,055	37,694	56,749
Operation and maintenance of facilities. ..........................	21,400		21,400	25,141	46,541
General and administrative ................................................	59,376	21,340	80,716	15,908	96,624
Interest....................................................................................	..... 178,307		178,307		178,307
Depreciation and amortization ..........................................	14,067		14,067	4,281	18,348
Benefit payments and refunds ...........................................		1,282,309	1,282,309		1,282,309
Provision for insurance and loan losses..........................	30,190		30,190		30,190
Other.......................................................................................	7,670		7,670	214	7,884
Total operating expenses............................................	..... 889,187	1,303,649	2,192,836	83,238	2,276,074
Operating income (loss) .............................................	..... 372,580	955,417	1,327,997	(24,564)	1,303,433
Non-operating revenues (expenses):
Investment income...............................................................	2,424		2,424	703	3,127
Interest expense ...................................................................	..... (12,932)		(12,932)	(1,581)	(14,513)
Operating grants... ................................................................				26,408	26,408
Other.......................................................................................	5,588		5,588	60	5,648
Income before transfers..............................................	..... 367,660	955,417	1,323,077	1,026	1,324,103
Operating transfers in .............................................................	26,749		26,749		26,749
Operating transfers out...........................................................	..... (398,385)		(398,385)		(398,385)
Net income (loss).........................................................	(3,976)	955,417	951,441	1,026	952,467
Add: Depreciation of cost of assets acquired from
contributed capital...............................................................	253		253	1,335	1,588
Increase/(decrease) in retained earnings/fund balance.....	..... (3,723)	955,417	951,694	2,361	954,055
Retained earnings/fund balance, July 1, 1993 .....................	..... 246,692	14,154,970	14,401,662	28,217	14,429,879

Retained earnings/fund balance, June 30, 1994....................... $ 242,969 $15,110,387 $16,363,356

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

$30,578

$15,383,934

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