14. Segment Information:
Activity segments included in enterprise funds are described in Note 1B. Selected financial information with
respect to these segments as of and for the year ended June 30, 1995, is as follows (amounts expressed in
thousands).
|
|
|
|
Segments
|
Savings and
|
|
|
Insurance
|
Loan
|
|
|
Loan Deposit
|
Stadium
|
|
Programs
|
Programs
|
Lottery
|
Manufacturing
|
Insurance
|
Authority
|
Operating revenues..............................................................
|
$13,857
|
$ 217,136
|
$1,042,033
|
$28,276
|
$10,793
|
$30,578
|
Depreciation and amortization .........................................
|
10
|
1,398
|
6,947
|
793
|
|
5,614
|
Operating income (loss) ....................................................
|
192
|
(2,079)
|
390,477
|
1,927
|
10,575
|
17,301
|
Operating interfund transfers:
|
|
|
|
|
|
|
In........................................................................................
|
|
28,793
|
|
|
|
19,426
|
Out.....................................................................................
|
714
|
1,306
|
385,078
|
|
25,019
|
|
Net income (loss)..................................................................
|
1,333
|
29,274
|
4,158
|
1,934
|
(4,787)
|
26,774
|
Current capital contributions..............................................
|
|
43,265
|
|
39
|
|
|
Property, plant, and equipment
|
|
|
|
|
|
|
Additions............................................................................
|
14
|
28
|
|
612
|
|
57,755
|
Deletions...........................................................................
|
|
31
|
|
|
|
|
Total assets...........................................................................
|
155,428
|
3,394,833
|
485,757
|
16,850
|
317,594
|
377,951
|
Bonds and other long-term liabilities payable from
|
|
|
|
|
|
|
operating revenues.........................................................
|
|
2,591,334
|
14,433
|
|
|
204,520
|
Total capital ..........................................................................
|
120,368
|
703,159
|
6,337
|
14,385
|
(3,542)
|
160,446
|
Net working capital ............................................................
|
104,436
|
927,391
|
36,055
|
11,336
|
70
|
51,484
|
15. Retirement Benefits:
State Retirement and Pension System of Maryland (System):
The State contributes to the State Retirement and Pension System of Maryland (System), an agent multiple-
employer public employee retirement system established by the State to provide pension benefits for State
employees (other than employees covered by the Mass Transit Administration Pension Plan described below) and
employees of 127 participating political subdivisions within the State. Additionally, the System provides benefits
for the Maryland Automobile Insurance Fund and the Injured Workers' Insurance Fund (neither of which are within
the State's reporting entity). The non-State entities that participate within the System receive separate actuarial
valuations in order to determine their respective funding rates and actuarial liabilities. Retirement benefits are paid
from the System's pooled assets rather than from assets relating to a particular plan participant. The System is
considered part of the State's financial reporting entity and is included in the State's financial statements as a
Pension Trust Fund.
Plan Description:
The System, which is administered in accordance with Article 73B of the Annotated Code of Maryland, consists
of the following plans which are managed by the Board of Trustees for the System. All retirement and pension
plans discussed herein are included in the System. All State employees and employees of the participating political
subdivisions (including the Maryland Automobile Insurance Fund and the Injured Workers' Insurance Fund) are
covered by the plans.
"Retirement System" ? retirement programs for substantially all State employees, teachers, State police and
judges who are not members of the State Pension System.
"Pension System" ? retirement programs for employees and teachers hired after January 1, 1980, and prior
employees who have elected to transfer from the Retirement System.
63
|
![clear space](../../../images/clear.gif) |