STATE OF MARYLAND

Combining Statement of Cash Flows

Enterprise Funds
for the year ended June 30, 1995

(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..........................................................	$ 192	$(2,079)	$390,477	$1,927	$10,575	$17,301	$418,393
Adjustments to reconcile operating income to net
cash provided (used) by operating activities:
Depreciation and amortization ..............................	10	1,398	6,947	793		5,614	14,762
Gain (loss) on disposal of property, plant
and equipment ......................................................		31		7			38
Changes in assets and liabilities:
Decrease (increase) in assets:
Intergovernmental receivables.......................		556					556
Other accounts receivable...............................	1,043	(1,985)	(3,815)	(208)	(19,320)	618	(23,667)
Due from other funds........................................	(221)	(3,479)	(4,115)	(1,512)		2,738	(6,589)
Inventories...........................................................				(687)			(687)
Loans and notes receivable.............................	(131)	(254,823)			100	490	(254,364)
Other assets ......................................................	(3,035)	(4,436)	(16)	160		(38,115)	(45,442)
Increase (decrease) in liabilities:
Accounts payable and accrued liabilities ....	83	(6,999)	(38)	(463)	(43)	6,424	(1,036)
Due to other funds............................................	(932)	4,078	(1,303)		19,319		21,162
Accrued insurance and loan losses ..............	1,270	(150)			(9,500)		(8,380)
Other liabilities...................................................	503	2,235					2,738
Deferred revenue..............................................	451	77	669	621			1,818
Accrued workers' compensation costs.........		(16)		35		16	35
Accrued annual leave ......................................		(13)		40		205	232
Lottery Installment payments ................................			(47,253)				(47,253)
Future lottery prize installments.............................			38,456				38,456
Net cash provided (used) by operating
activities.....................................................	(767)	(265,605)	380,009	713	1,131	(4,709)	110,772
Cash flows from noncapital financing activities:
Proceeds from sale of revenue bonds.......................		378,468					378,468
Payment on revenue bonds........................................		(267,905)					(267,905)
Operating grants............................................................		2,803					2,803
Operating transfers in .................................................		28,793				19,426	48,219
Operating transfers out...............................................	(714)	(1,306)	(385,078)		(25,019)		(412,117)
Contributed capital ......................................................		43,265		39			43,304
Decrease in loans from other funds.........................				(189)			(189)
Net cash provided (used) by noncapital
financing activities ...................................	(714)	184,118	(385,078)	(150)	(25,019)	19,426	(207,417)
Cash flows from capital and related financing
activities:
Proceeds from notes payable and revenue bonds						55,000	55,000
Principal paid on notes payable and revenue
bonds...........................................................................			(4,561)			(1,950)	(6,511)
Interest payments..........................................................						(11,968)	(11,968)
Acquisition and construction of property, plant
and equipment ..........................................................	(14)	(28)		(612)		(57,755)	(58,409)
Payment of capital lease obligations.........................			(3,678)			(59)	(3,737)
Net cash used by capital and related
financing activities ...................................	(14)	(28)	(8,239)	(612)		(16,732)	(25,625)
Cash flows from investing activities:
Purchase of investments...............................................	(1,155)	(181,661)	(34,824)				(217,640)
Proceeds from maturity and sale of investments...	1,000	252,724	47,253		8,068		309,045
Interest and gains on investments.............................	1,855	1,063			9,657	2,015	14,590
Decrease in deposits ...................................................					6,101		6,101
Net cash provided by investing
activities.....................................................	1,700	72,126	12,429		23,826	2,015	112,096
Net increase (decrease) in cash and
cash equivalents .......................................	205	(9,389)	(879)	(49)	(62)		(10,174)
Cash and cash equivalents balance, July 1, 1994........	96,329	239,504	969	56	143		337,001
Cash and cash equivalents balance, June 30, 1995....	$96,534	$230,115	$ 90	$ 7	$ 81	$ ?	$326,827

79