|
STATE OF MARYLAND
Statement of Changes in Fund Balances
Component Unit Higher Education Fund
for the year ended June 30, 1994
(Expressed in Thousands)
|
|
Current
Unrestricted
|
Funds
Restricted
|
Loan Funds
|
Endowment
Funds
|
Plant Funds
|
Total
|
|
Revenues and other additions:
|
|
|
|
|
|
|
|
Education and general revenues .....................................................
|
$ 485,003
|
|
|
|
$ 743
|
$ 485,746
|
|
Auxiliary enterprises revenues ........................................................
|
260,415
|
|
|
|
|
260,415
|
|
Federal grants and contracts — restricted ....................................
|
|
$295,942
|
|
|
798
|
296,740
|
|
State grants and contracts — restricted.........................................
|
|
868
|
|
|
|
868
|
|
Private gifts, grants and contracts..................................................
|
|
71,715
|
$ 71
|
$ 316
|
5,369
|
77,471
|
|
Endowment income...........................................................................
|
|
|
|
16
|
|
16
|
|
Investment income.............................................................................
|
|
2,244
|
32
|
28
|
1,258
|
3,562
|
|
Realized gain on investments ..........................................................
|
|
|
|
3,803
|
|
3,803
|
|
Gain on disposal of plant assets .....................................................
|
|
|
|
|
7
|
7
|
|
Interest on loans receivable.............. ...............................................
|
|
|
1,385
|
|
|
1,385
|
|
U.S. Government advances...............................................................
|
|
|
1,603
|
|
|
1,603
|
|
Retirement of indebtedness .............................................................
|
|
|
|
|
25,164
|
25,164
|
|
Proceeds of refunding bonds............................. ..............................
|
|
|
|
|
124,225
|
124,225
|
|
Expended for plant facilities (including $48,407 charged to
|
|
|
|
|
|
|
|
current funds expenditures).........................................................
|
|
|
|
|
190,614
|
190,614
|
|
Other....................................................................................................
|
|
175
|
208
|
|
731
|
1,114
|
|
Total revenues and other additions ........................................
|
745,418
|
370,944
|
3,299
|
4,163
|
348,909
|
1,472,733
|
|
Expenditures and other deductions:
|
|
|
|
|
|
|
|
Educational and general expenditures...... .....................................
|
1,053,990
|
333,060
|
|
|
|
1,387,050
|
|
Auxiliary enterprises expenditures .................................................
|
182,193
|
1,486
|
|
|
|
183,679
|
|
Indirect cost recovered.....................................................................
|
|
47,368
|
|
|
|
47,368
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|
Loan cancellations, -write-offs and refunds, net of recoveries...
|
|
|
596
|
|
|
596
|
|
Retirement of indebtedness .............................................................
|
|
|
|
|
25,165
|
25,165
|
|
Interest on indebtedness...................................................................
|
|
|
|
|
15,131
|
15,131
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|
Payment to refunding bond trustee. ...............................................
|
|
|
|
|
122,697
|
122,697
|
|
Expended for plant facilities (including noncapitialized
|
|
|
|
|
|
|
|
expenditures of $11,301)...............................................................
|
|
|
|
|
158,108
|
158,108
|
|
Disposal of property, plant and equipment...................................
|
|
|
|
|
46,657
|
46,657
|
|
Other....................................................................................................
|
|
|
324
|
405
|
4,868
|
5,597
|
|
Total expenditures and other deductions ..............................
|
1,236,183
|
381,914
|
920
|
405
|
372,626
|
1,992,048
|
|
Net increase (decrease) in fund balances
|
|
|
|
|
|
|
|
before transfers ......................................................................
|
(490,765)
|
(10,970)
|
2,379
|
3,758
|
(23,717)
|
(619,315)
|
|
Transfers among funds — additions (deductions):
|
|
|
|
|
|
|
|
Mandatory:
|
|
|
|
|
|
|
|
Debt service ....................................................................................
|
(52,706)
|
(34)
|
|
|
52,740
|
|
|
Loan fund matching grant............................................................
|
(313)
|
25
|
288
|
|
|
|
|
Non-mandatory:
|
|
|
|
|
|
|
|
Remodeling, renewals and replacements...................................
|
(39,667)
|
(1,251)
|
725
|
|
40,193
|
|
|
Other................................................................................................
|
(3,984)
|
4
|
22
|
(174)
|
4,132
|
|
|
Total transfers among funds ....................................................
|
(96,670)
|
(1,256)
|
1,035
|
(174)
|
97,065
|
|
|
Operating transfer from primary government...................................
|
578,317
|
10,037
|
|
|
47,403
|
635,757
|
|
Net increase (decrease) in fund balances .............................
|
(9,118)
|
(2,189)
|
3,414
|
3,684
|
120,751
|
116,442
|
|
Fund balances, July 1, 1993 .................................................................
|
53,680
|
19,360
|
49,519
|
56,421
|
2,158,603
|
2,337,583
|
|
Fund balances, June 30, 1994 ..............................................................
|
$ 44,562
|
$ 17,171
|
$52,933
|
$60,005
|
$2,279,354
|
$2,454,025
|
The accompanying notes to general purpose financial statements are an integral part of these financial statements.
35
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