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STATE OF MARYLAND
Schedule of Ratio of Annual Debt Service for General
Long-Term Debt to Total General Expenditures
Last Ten Fiscal Years
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(Expressed
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in Thousands)
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Ratio of
Debt Service
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|
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Total
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to General
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Fiscal
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|
|
Debt
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Total General
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Expenditures
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Year
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Principal
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Interest
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Service
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Expenditures (1)
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(Percent)
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|
1994..................................................................
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$229,725
|
$237,554(2)
|
$467,279
|
$11,070,143
|
4.22%
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|
1993..................................................................
|
251,539
|
236,614
|
488,153
|
10,542,462
|
4.63
|
|
1992..................................................................
|
235,678
|
215,922
|
451,600
|
10,345,681
|
4.37
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|
1991..................................................................
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276,131
|
201,025
|
477,156
|
10,224,347
|
4.67
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1990..................................................................
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284,216
|
182,981
|
467,197
|
9,375,548
|
4.98
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|
1989..................................................................
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272,355
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182,119
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454,474
|
8,567,633
|
5.30
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|
1988..................................................................
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261,375
|
174,511
|
435,886
|
8,027,477
|
5.43
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|
1987..................................................................
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258,395
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185,684
|
444,079
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7,314,578
|
6.07
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|
1986..................................................................
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254,525
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201,355
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455,880
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6,659,000
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6.85
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|
1985..................................................................
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226,445
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207,037
|
433,482
|
6,060,235
|
7.15
|
(1) Includes general, special revenue, debt service and capital projects funds.
(2) Includes payments made in advance to refunding escrow account
Source: General Accounting Division, State Comptroller's Office.
STATE OF MARYLAND
Schedule of Taxes Pledged to Consolidated Transportation
Bonds and Net Revenues as Defined for Purposes of
Consolidated Transportation Bonds Coverage Tests (1)
Last Ten Fiscal Years
(Expressed in Thousands)
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Year
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ended ,
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June 30,
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1994
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1993
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1992
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1991
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1990
|
1989
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1988
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1987
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1986
|
1985
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Revenues:
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|
|
|
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Taxes and fees:
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Taxes pledged to bonds ................
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,..$ 727,557
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$ 633,974
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$553,185
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$535,131
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$571,567
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$581,073
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$577,224
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$480,513
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$438,886
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$403,372
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|
Other taxes and fees .....................
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.. 198,356
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234,828
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181,459
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160,437
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187,225
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188,242
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139,184
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134,086
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127,130
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118,161
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Total taxes and fees...................
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.. 925,913
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868,802
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734,644
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695,568
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758,792
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769,315
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716,408
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614,599
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566,016
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521,533
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Operating revenues... .........................
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,.. 198,618
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162,751
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160,544
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160,014
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147,538
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142,248
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140,712
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129,912
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126,021
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126,125
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Investment income.............................
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... 11,097
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3,412
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3,800
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10,106
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16,112
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9,077
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9,168
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10,957
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13,644
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16,812
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Other.....................................................
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12,148
|
11,229
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11,984
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8,238
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6,888
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7,080
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8,444
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4,228
|
5,419
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3,352
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Total revenues ............................
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... 1,147,776
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1,046,194
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910,972
|
873,926
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929,330
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927,720
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874,732
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759,696
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711,100
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667,822
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Administration, operation and
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|
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|
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maintenance expenditures................
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... 687,021
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623,929
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564,351
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580,628
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544,268
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501,616
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472,183
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435,281
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423,502
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379,563
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Less federal funds..................................
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... (21,904)
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(19,279)
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(16,991)
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(19,969)
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(16,791)
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(17,567)
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(17,771)
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(20,801)
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(19,648)
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(21,245)
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Total..............................................
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.. 665,117
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604,650
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547,360
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560,659
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527,477
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484,049
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454,412
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414,480
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403,854
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358,318
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Net revenues. ..............................
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..$ 482,659
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$ 441,544
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$363,612
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$313,267
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$401,853
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$443,671
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$420,320
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$345,216
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$307,246
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$309,504
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Maximum annual principal and
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|
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interest requirements.........................
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...$ 136,032
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$ 126,146
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$118,198
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$104,972
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$ 69,034
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$ 40,327
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$ 33,594
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$ 33,594
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$ 25,175
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$ 46,084
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Ratio of net revenues to maximum
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|
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annual principal and interest
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requirements .......................................
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3.55
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3.50
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3.08
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2.98
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5.82
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11.00
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12.51
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10.27
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12.20
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6.72
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Ratio of taxes pledged to bonds to
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maximum annual principal and
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interest requirements.........................
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5.35
|
5.03
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4.68
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5.10
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8.28
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14.41
|
17.18
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14.30
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17.43
|
8.75
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Source: The Secretary's Office of the Department of Transportation.
(1) Under the terms of the bond authorizing resolutions, additional Consolidation Transportation Bonds may be issued, provided, among other
conditions, that (i) total receipts, less administration, operation and maintenance expenditures for the preceding fiscal year equal at least
two times maximum annual debt service on all Consolidated Transportation Bonds outstanding and to be issued and that (ii) total proceeds
from pledged taxes equal at least two times maximum annual debt service on all Consolidated Transportation Bonds outstanding and to be
issued
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