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STATE OF MARYLAND
Combined Statement of Cash Flows
Enterprise Funds and Component Unit Proprietary Funds
for the year ended June 30, 1996
(Expressed in Thousands)
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Total
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Primary
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Component
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Reporting
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Government
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Units
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Entity
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Enterprise
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Proprietary
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(Memorandum
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Funds
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Funds
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Only)
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Cash flows from operating activities:
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Operating income (loss) .......................................................................................................................
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.... $393,611
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$ (2,033)
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$ 391,578
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Adjustments to reconcile operating income to net cash provided by (used by) operating
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activities:
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Depreciation and amortization........................................................................................................
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9,464
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6,590
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16,054
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Loss on disposal of property, plant and equipment ....................................................................
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5,715
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5,715
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Changes in assets and liabilites:
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Decrease (increase) in assets:
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Intergovernmental receivables.................................................................................................
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745
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249
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994
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Other accounts receivable........................................................................................................
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2,010
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(5,250)
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(3,240)
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Due from other funds/primary government ..........................................................................
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(15,387)
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(35,647)
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(51,034)
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Inventories...................................................................................................................................
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(750)
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(750)
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Loans and notes receivable......................................................................................................
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..... (150,344)
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(150,344)
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Other assets................................................................................................................................
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9,295
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35,762
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45,057
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Increase (decrease) in liabilities:
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Accounts payable and accrued liabilites................................................................................
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3,065
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11,548
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14,613
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Due to other funds.....................................................................................................................
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(17,527)
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160
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(17,367)
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Accrued insurance and loan losses ........................................................................................
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..... (301,069)
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1,245
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(299,824)
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Other liabilities...........................................................................................................................
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1,856
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572
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2,428
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Deferred revenue........................................................................................................................
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(831)
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(27)
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(858)
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Accrued self insurance costs ...................................................................................................
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(111)
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(245)
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(356)
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Accrued annual leave................................................................................................................
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3
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29
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32
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Lottery installment payments.......................................................................................................
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..... (50,603)
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(50,603)
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Future lottery prize installments.................................................................................................
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53,687
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53,687
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Net cash provided (used) by operating activities ................................................................
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(57,171)
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12,953
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(44,218)
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Cash flows from noncapital financing activities:
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Proceeds from sale of revenue bonds................................................................................................
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130,002
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130,002
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Payment on revenue bonds..................................................................................................................
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..... (164,459)
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(164,459)
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Operating transfers in...........................................................................................................................
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30,531
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30,531
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Operating transfers in from primary government ............................................................................
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8,428
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8,428
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Operating transfers out.........................................................................................................................
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..... (391,639)
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(391,639)
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Operating transfers out to primary government...............................................................................
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(912)
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(912)
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Contributed capital................................................................................................................................
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50,274
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50,274
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Payment on loans from other funds...................................................................................................
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(378)
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(378)
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Equity transfer........................................................................................................................................
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(404)
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(404)
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Net cash provided (used) by noncapital financing activities.............................................
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..... (346,073)
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7,516
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(338,557)
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Cash flows from capital and related financing activities:
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Proceeds from notes payable and revenue bonds ...........................................................................
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112,763
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112,763
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Principal paid on notes payable and revenue bonds.......................................................................
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(4,625)
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(5,273)
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(9,898)
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Interest payments...................................................................................................................................
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(14,484)
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(14,484)
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Acquisition and construction of property, plant and equipment...................................................
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(559)
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(48,514)
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(49,073)
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Payment of capital lease obligations..................................................................................................
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(3,678)
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(3,678)
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Cash paid for equipment and building improvements.....................................................................
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Decrease in revenue bond debt service account .............................................................................
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131
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131
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Lease principal payments received.....................................................................................................
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4,083
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4,083
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Receipt of swap premium.....................................................................................................................
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15,522
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15,522
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Proceeds from property, plant and equipment sales.......................................................................
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119
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119
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Contributed capital ...............................................................................................................................
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500
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500
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Net cash provided (used) by capital and related financing activities..............................
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(8,862)
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64,847
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55,985
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Cash flows from investing activities:
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Purchase of investments.......................................................................................................................
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..... (192,741)
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(108,286)
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(301,027)
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Proceeds from maturity and sale of investments.............................................................................
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..... 301,446
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301,446
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Interest and gains on investments ......................................................................................................
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1,015
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16,665
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17,680
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Decrease in deposits.............................................................................................................................
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..... 295,900
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295,900
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Increase in land held for resale...........................................................................................................
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(66)
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(66)
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Proceeds from loans and notes receivable .......................................................................................
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779
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779
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Net cash provided (used) by investing activities .................................................................
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..... 405,620
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(90,908)
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314,712
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Net decrease in cash and cash equivalents...........................................................................
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(6,486)
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(5,592)
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(12,078)
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Cash and cash equivalents balance, July 1, 1995, as restated...........................................................
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..... 293,251
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38,602
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331,853
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Cash and cash equivalents balance, June 30, 1996..............................................................................
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..... $ 286,765
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$ 33,010
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$ 319,775
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The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
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