STATE OF MARYLAND
Combining Statement of Cash Flows
Component Unit Proprietary Funds
for the year ended June 30, 1997
(Expressed in Thousands)
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Maryland
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Maryland
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Industrial
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Maryland
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Food
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Maryland
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Development
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Stadium
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Center
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Environmental
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Financing
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Authority
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Authority
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Service
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Authority
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Total
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Cash flows from operating activities:
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Operating income Qoss) .................................................................................................
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.$ 13,363
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$ 1,306
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$ 702
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$(2,353)
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$ 13,018
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Adjustments to reconcile operating income (loss) to net cash provided (used)
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by operating activities:
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Depreciation and amortization..................................................................................
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4,970
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496
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2,913
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8,379
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Effect of changes in assets and liabilities:
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Decrease (increase) in assets:
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Other accounts receivable......................................................................................
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. (1,098)
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(24)
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(8)
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(1,130)
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Due from primary government ..............................................................................
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4,325
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(1,202)
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3,123
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Other assets..............................................................................................................
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. (126,819)
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512
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1,044
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(125,263)
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Increase (decrease) in liabilities
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Accounts payable and accrued liabilities ............................................................
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(645)
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99
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1,937
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7
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1,398
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Due to primary government...................................................................................
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(912)
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(912)
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Other liabilities.........................................................................................................
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(221)
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(1,000)
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(1,221)
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Deferred revenue......................................................................................................
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(35)
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39
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4
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Accrued insurance and loan losses ......................................................................
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(717)
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(717)
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Accrued self insurance costs .................................................................................
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3
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5
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(19)
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(ID
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Accrued annual leave..............................................................................................
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39
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(4)
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49
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84
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Net cash provided (used) by operating activities ..........................................
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. (105,862)
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641
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5,865
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(3,892)
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(103,248)
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Cash flows from non-capital financing activities:
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Revolving loan agreement..........................................................................................
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750
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750
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Operating transfers in from primary government. .................................................
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. 17,792
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17,792
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Operating transfers out to primary government ......................................................
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(870)
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(870)
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Net cash provided (used) by non-capital financing activities..........................
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17,792
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750
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(870)
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17,672
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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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1,723
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1,723
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Principal paid on notes payable and revenue bonds... ..........................................
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. (2,232)
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(91)
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(3,403)
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(5,726)
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Interest payments.........................................................................................................
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. (13,978)
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(56)
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(2,041)
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(16,075)
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Acquisition and construction of property, plant and equipment.......... ...............
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. (53,797)
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(665)
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(4,736)
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(59,198)
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Decrease in revenue bond debt service account ...................................................
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135
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135
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Proceeds from property, plant and equipment sales.............................................
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. 96,919
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126
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97,045
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Net cash provided (used) by capital and related financing activities ...... ......
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. 26,912
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(677)
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(8,331)
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17,904
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Cash flows from investing activities:
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Proceeds from sale of investments... .......................................................................
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. 53,789
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53,789
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Purchase of investments.............................................................................................
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(593)
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(196)
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(789)
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Interest and gains on investments ............................................................................
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6,897
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289
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722
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1,554
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9,462
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Purchase of land held for resale. ..............................................................................
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(253)
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(253)
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Proceeds from loans and notes receivable .............................................................
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472
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472
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Lease principal interest payments received ............................................................
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1,391
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1,391
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Net cash provided by investing activities............................................................
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. 61,158
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36
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1,520
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1,358
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64,072
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Net decrease in cash and cash equivalents... .................. ....................................
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(196)
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(3,404)
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(3,600)
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Cash and cash equivalents balance, July 1, 1996. ..........................................................
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2,878
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30,132
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33,010
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Cash and cash equivalents balance, June 30, 1997........................................................
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.$ ?
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$ _
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$ 2,682
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$26,728
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$ 29,410
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The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
36
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