STATE OF MARYLAND

Schedule of Changes in Fund Equities — Budgetary Basis
for the year ended June 30, 1995

(Expressed in Thousands)

					Higher	Education
		Special	Fund		Current	Current	Capital
	General	Other	Debt	Federal	Unrestricted	Restricted	Projects	Other
	Fund	Special	Service	Fund	Fund	Fund	Fund	Funds	Total
Fund equities, July 1, 1994...............	$ 292,723	$ 552,801	$64,768	$-	$128,141	$3,455	$170,145	$18,941,488	$20,153,521
Increase:
Revenues......................................	7,162,560	2,442,687	309,047	2,815,593	1,447,635	357,582	403,492	4,772,558-	19,711,154
Decrease:
Appropriations...........................	7,037,901	2,666,429	322,575	3,215,787	1,462,259	385,008
Less: Current year reversions	(37,456)	(244,331)	(1,273)	(370,530)	(47,550)	(27,511)
Prior year reversions .....	(4,478)	(3,828)		(9,745)	(1,414)	(311)
Expenditures and
encumbrances.........................	6,995,967	2,418,270	321,302	2,835,512	1,413,295	357,186	481,792	3,213,395	18,036,719
Changes to encumbrances during
fiscal year 1995................................	576	(10,857)		(18,824)	2,105	311			(26,689)
Expenditures...................................	6,996,543	2,407,413	321,302	2,816,688	1,415,400	357,497	481,792	3,213,395	18,010,030
Transfers in (out)...............................	11,836	(8,164)	(1,067)	1,095	(1,094)	(36)	958	(3,528)
Changes in contributed capital.......								39,977	39,977
Equity transfers .................................								(30,236)	(30,236)
Fund equities, June 30, 1995 ...........	$ 470,576	$ 579,911	$51,446	$_	$159,282	$3,504	$92,803	$20,506,864	$21,864,386
Invested in fixed asset .....................								$2,091,702	$2,091,702
Contributed capital ...........................								560,454	560,454
Capital deposits by members..........								144,224	144,224
Retained earnings:
Reserved ..........................................								4,605	4,605
Unreserved .....................................								315,362	315,362
Fund Balance:
Reserved:
Encumbrances...........................'	$ 40,687 ,	$ 88,454		$ 113,086	$7,780		$330,039	183,563	763,609
Agency activities .......................								32,958	32,958
State reserve fund.....................	295,773								295,773
Loans and notes receivable.....	1,234	3,718	$29,860						34,812
Loans to other funds ................	378		6,372					58,905	65,655
Shore erosion loan programs		16,074							16,074
Higher education programs.....								77,287	77,287
Endowment funds.....................								65,883	65,883
Debt and plant additions.........								122,964	122,964
Pension benefits ........................								16,293,279	16,293,279
Unemployment compensation
benefits....................................								659,717	659,717
Unreserved:
Designated for:
General long-term debt
service..................................			15,214						15,214
Transportation debt service								39,101	39,101
Maryland Transportation
Authority
bond debt service..............								117,258	117,258
Higher education debt
service					99,670				99,670
1996 Operations.....................	105,975								105,975
Undesignated (deficit)................	26,529	471,665		(113,086)	51,832	$3,504	(237,236)	(260,398)	(57,190)
Total.................................!	* 470,576 I	* 579,911	$51,446 ',	* —	$159,282	$3,504	$92,803	$20,506,864	$21,864,386

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