|
STATE OF MARYLAND
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings
Enterprise Funds and Component Unit Proprietary Funds
for the year ended June 30, 1997
(Expressed in Thousands)
|
|
Primary
|
|
Total
Reporting
|
|
|
Government
|
Component Unit
|
Entity
|
|
|
Enterprise
|
Proprietary
|
(Memorandum
|
|
|
Funds
|
Funds
|
Only)
|
|
Operating revenues:
|
|
|
|
|
Lottery ticket sales...........................................................................................................................
|
$1,043,583
|
|
$1,043,583
|
|
Charges for services and sales .......................................................................................................
|
40,905
|
$ 90,342
|
131,247
|
|
Interest and other investment income ..........................................................................................
|
232,908
|
|
232,908
|
|
Other....................................................................................................................................................
|
6,445
|
2,203
|
8,648
|
|
Total operating revenues.........................................................................................................
|
1,323,841
|
92,545
|
1,416,386
|
|
Operating expenses:
|
|
|
|
|
Prizes and claims..............................................................................................................................
|
551,707
|
|
551,707
|
|
Commissions and bonuses..............................................................................................................
|
57,091
|
|
57,091
|
|
Cost of sales and services...............................................................................................................
|
23,406
|
|
23,406
|
|
Operation and maintenance of facilities... ....................................................................................
|
9,637
|
58,197
|
67,834
|
|
General and administrative.............................................................................................................
|
57,233
|
10,410
|
67,643
|
|
Interest................................................................................................................................................
|
170,952
|
|
170,952
|
|
Depreciation and amortization.......................................................................................................
|
2,851
|
8,379
|
11,230
|
|
Provision for insurance and loan losses................... ....................................................................
|
41,865
|
|
41,865
|
|
Other....................................................................................................................................................
|
24,791
|
2,541
|
27,332
|
|
Total operating expenses.........................................................................................................
|
939,533
|
79,527
|
1,019,060
|
|
Operating income......................................................................................................................
|
384,308
|
13,018
|
397,326
|
|
Non-operating revenues (expenses):
|
|
|
|
|
Investment income............................................................................................................................
|
737
|
9,462
|
10,199
|
|
Interest expense................................................................................................................................
|
(435)
|
(16,075)
|
(16,510)
|
|
Other....................................................................................................................................................
|
3,705
|
100
|
3,805
|
|
Operating income before transfers ........................................................................................
|
388,315
|
6,505
|
394,820
|
|
Operating transfers in..........................................................................................................................
|
41,966
|
|
41,966
|
|
Operating transfers in from primary government ...........................................................................
|
|
17,792
|
17,792
|
|
Operating transfers out........................................................................................................................
|
(398,840)
|
|
(398,840)
|
|
Operating transfers out to primary government............................................................. ...... ...........
|
|
(870)
|
(870)
|
|
Net income.................................................................................................................................
|
31,441
|
23,427
|
54,868
|
|
Add: Depreciation of assets acquired from contributed capital...................... ........ .....................
|
248
|
881
|
1,129
|
|
Increase in retained earnings..............................................................................................................
|
31,689
|
24,308
|
55,997
|
|
Retained earnings, July 1, 1996 ..........................................................................................................
|
321,044
|
160,461
|
481,505
|
|
Cumulative effect of accounting change.................................................................... .......................
|
38,697
|
|
38,697
|
|
Retained earnings, June 30, 1997 .......................................................................................................
|
$ 391,430
|
$ 184,769
|
$ 576,199
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
29
|
 |
