STATE OF MARYLAND

Combining Statement of Cash Flows

Enterprise Funds
for the year ended June 30, 1994

(Expressed in Thousands)

	Economic Development Insurance Programs	Loan Programs	Maryland State Lottery Agency	State Use Industries	Maryland Deposit Insurance Fund Corporation	Maryland Stadium Authority	Total
Cash flows from operating activities:
Operating income (loss) .............................................	$(12,716)	$(15,339)	$ 380,127	$583	$ 11,984	$ 7,941	$ 372,580
Adjustments to reconcile operating income (loss)
to net cash provided by (used by) operating
activities:
Depreciation and amortization ..............................	7	1,621	6,204	806		5,429	14,067
Loss (gain) on disposal of property, plant
and equipment ......................................................		20		(5)			15
Changes in assets and liabilities:
Decrease (increase) in assets:
Intergovernmental receivables.......................		(729)					(729)
Other accounts receivable..............................	(1,032)	(6,899)	(3,536)	(99)	(288)	4,691	(7,163)
Due from other funds......................................	(147)	(41,543)	(1,813)	(8)		(20,390)	(63,901)
Inventories.........................................................				(652)			(652)
Loans and notes receivable............................	1,794	6,243			724	487	9,248
Other assets ......................................................	(2,875)	(7,620)	(9)	(147)	5,594	75	(4,982)
Increase (decrease) in liabilities:
Accounts payable and accrued liabilities ....	(3,243)	1,126	(6,995)	(622)	(12)	1,147	(8,599)
Due to other funds...........................................	(7,388)		5,516				(1,872)
Accrued insurance and loan losses ..............	4,880	994			(5,981)		(107)
Other liabilities .................................................	(68)	1,880					1,812
Deferred revenue..............................................	219	442	531	39			1,231
Accrued workers' compensation costs.........	(24)	1		190	(5)	(20)	142
Accrued annual leave......................................	(68)	2		18			(48)
Lottery installment payments.................................			(43,101)				(43,101)
Future lottery prize installments...........................			42,546				42,546
Net cash provided (used) by operating
activities.....................................................	(20,661)	(59,801)	379,470	103	12,016	(640)	310,487
Cash flows from noncapital financing activities:
Proceeds from sale of revenue bonds......................		412,622					412,622
Payment on revenue bonds........................................		(390,640)					(390,640)
Operating transfers in .................................................	6					26,743	26,749
Operating transfers out...............................................	(6)		(374,262)		(18,600)		(392,868)
Contributed capital ......................................................		67,956		727			68,683
Decrease in loans from other funds............. ............				(189)			(189)
Net cash provided (used) by noncapital
financing activities ...................................		89,938	(374,262)	538	(18,600)	26,743	(275,643)
Cash flows from capital and related financing
activities:
Proceeds from notes payable and revenue bonds			11,057				11,057
Principal paid on notes payable and revenue
bonds ..........................................................................			(2,181)			(1,825)	(4,006)
Interest payments.........................................................			(1,108)			(11,824)	(12,932)
Acquisition and construction of property, plant
and equipment..... .....................................................	(23)	(23)	(8,245)	(685)		(13,341)	(22,317)
Payment of capital lease obligations. .......................			(3,678)			(437)	(4,115)
Net cash used by capital and related
financing activities ...................................	(23)	(23)	(4,155)	(685)		(27,427)	(32,313)
Cash flows from investing activities:
Purchase of investments.............................................	(1,000)	(85,300)	(45,264)				(131,564)
Proceeds from maturity and sale of investments...		38,957	43,101		844		82,902
Interest and gains on investments............................		752			436	1,236	2,424
Decrease in deposits ...................................................					5,030		5,030
Net cash provided (used) by investing
activities.....................................................	(1,000)	(45,591)	(2,163)		6,310	1,236	(41,208)
Net decrease in cash and cash
equivalents.. ...............................................	(21,684)	(15,477)	(1,110)	(44)	(274)	(88)	(38,677)
Cash and cash equivalents balance, July 1, 1993 .......	118,013	254,981	2,079	100	417	88	375,678
Cash and cash equivalents balance, June 30, 1994....	$ 96,329	$239,504	$ 969	$ 56	$ 143	$ 0	$ 337,001

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