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ARTHUR
ANDERSEN
November 14, 1996 Arthur Andersen LLP
120 East Baltimore Street
Baltimore MD 21202
4107275800
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
The Honorable Louis L. Goldstein,
Comptroller of the Treasury of Maryland:
We have audited the accompanying general purpose financial statements of the State of Maryland as of June
30,1996, and for the year then ended, as listed in the table of contents. These general purpose financial statements
are the responsibility of the State of Maryland's management. Our responsibility is to express an opinion on these
general purpose financial statements based on our audit. We did not audit the financial statements of the (1)
Maryland Transportation Authority; (2) two insurance programs and eight loan programs of the Maryland
Departments of Housing and Community Development, Business and Economic Development and Environment;
(3) State Use Industries; (4) State Retirement and Pension System of Maryland; (5) Maryland Local Government
Investment Pool, (6) Maryland Stadium Authority; (7) Maryland Food Center Authority; (8) Maryland
Environmental Service; and the (9) Maryland Industrial Development Financing Authority, which represent the
percentages of the total assets, operating revenues or deductions, and expenditures, expenses or deductions of the
fund types listed below.
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Percentage of
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Total Fund Type
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Operating
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Revenues or
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Expenditures, Expenses
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Agency
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Total Assets
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Deductions
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or Deductions
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Special Revenue Fund
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38.6%
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7.8%
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8.3%
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— Maryland Transportation Authority
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Debt Service Fund
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41.8
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0.6
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14.2
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— Maryland Transportation Authority
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Enterprise Fund
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13.4
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3.9
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4.6
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— Two Insurance Programs
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— Eight Loan Programs
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— State Use Industries
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Pension Trust Fund
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99.8
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99.5
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99.3
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— State Retirement and Pension System of Maryland
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Agency Fund
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23.7
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N/A
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N/A
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— Maryland Local Government Investment Pool
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Component Unit Propriety Fund
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100.0
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100.0
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100.0
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— Maryland Stadium Authority
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— Maryland Food Center Authority
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— Maryland Environmental Service
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— Maryland Industrial Development Financing
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Authority
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21
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