STATE OF MARYLAND
Statement of Changes in Fund Balances
Component Unit Higher Education Fund
for the year ended June 30, 1997
(Expressed in Thousands)
|
Current
|
Funds
|
|
Endowment
|
|
|
|
Unrestricted
|
Restricted
|
Loan Funds
|
Funds
|
Plant Funds
|
Total
|
Revenues and other additions:
|
|
|
|
|
|
|
Education and general revenues ......................................................................
|
.. $ 634,615
|
|
|
|
$ 771
|
$ 635,886
|
Auxiliary enterprise revenues. ..........................................................................
|
307,467
|
|
|
|
|
307,467
|
Government grants and contracts — restricted.............................................
|
|
$392,729
|
|
|
50
|
392,779
|
Private gifts, grants and contracts. ..................................................................
|
|
90,459
|
$ 158
|
$ 3,876
|
3,265
|
97,758
|
Endowment income............................................................................................
|
|
|
|
29
|
|
29
|
Investment income..............................................................................................
|
|
932
|
49
|
35,319
|
4,502
|
40,802
|
Gain on disposal of plant assets ......................................................................
|
|
|
|
|
3,158
|
3,158
|
Interest on loans receivable.................. ............................................................
|
|
|
1,503
|
|
|
1,50.3
|
Retirement of indebtedness ..............................................................................
|
|
|
|
|
31,485
|
31,485
|
Expended for plant facilities (including $40,639 charged to
|
|
|
|
|
|
|
current funds expenditures)................ ........................................................ ..
|
|
|
|
|
247,239
|
247,239
|
Other.....................................................................................................................
|
|
178
|
1,051
|
|
3,009
|
4,238
|
Total revenues and other additions .........................................................
|
.. 942,082
|
484,298
|
2,761
|
39,224
|
293,479
|
1,761,844
|
Expenditures and other deductions:
|
|
|
|
|
|
|
Educational and general expenditures. ........... ................................................
|
.. 1,259,787
|
415,818
|
|
17
|
|
1,675,622
|
Auxiliary enterprise expenditures ....................................................................
|
205,899
|
1,631
|
|
|
|
207,530
|
Indirect cost recovered. .....................................................................................
|
|
61,509
|
|
|
|
61,509
|
Loan cancellations, write-offs and refunds, net of recoveries............ ........
|
|
|
867
|
|
|
867
|
Retirement of indebtedness ..............................................................................
|
|
|
|
|
31,485
|
31,485
|
Interest on indebtedness............ ........................................................................
|
|
|
|
|
23,487
|
23,487
|
Expended for plant facilities (including non-capitialized
|
|
|
|
|
|
|
expenditures of $12,242)................................................................................
|
|
|
|
|
218,842
|
218,842
|
Disposal of property, plant and equipment.......... ........................................ ..
|
|
|
|
|
24,474
|
24,474
|
Other.....................................................................................................................
|
|
|
640
|
497
|
329
|
1,466
|
Total expenditures and other deductions ...............................................
|
.. 1,465,686
|
478,958
|
1,507
|
514
|
298,617
|
2,245,282
|
Net increase (decrease) in fund balances before transfers.................
|
.. (523,604)
|
5,340
|
1,254
|
38,710
|
(5,138)
|
(483,438;;
|
Transfers among funds — additions (deductions):
|
|
|
|
|
|
|
Mandatory:
|
|
|
|
|
|
|
Debt service.....................................................................................................
|
(57,168)
|
(40)
|
|
|
57,208
|
|
Loan fund matching grant .............................................................................
|
(407)
|
44
|
363
|
|
|
|
Non-mandatory:
|
|
|
|
|
|
|
Remodeling, renewals and replacements................ .......................... ..........
|
(53,234)
|
(692)
|
|
350
|
53,576
|
|
Other.................................................................................................................
|
(13,562)
|
2,479
|
(5)
|
(2,549)
|
13,637
|
|
Total transfers among funds .....................................................................
|
.. (124,371)
|
1,791
|
358
|
(2,199)
|
124,421
|
|
Operating transfers from primary government................ ..................................
|
643,573
|
|
|
|
49,668
|
693,241
|
Net increase (decrease) in fund balances ..............................................
|
(4,402)
|
7,131
|
1,612
|
36,511
|
168,951
|
209,803
|
Fund balances, July 1, 1996 ..................................................................................
|
80,080
|
26,956
|
57,367
|
72,692
|
2,388,609
|
2,625,704
|
Cumulative effect of accounting change........... ..................................................
|
786
|
|
|
41,105
|
|
41,891
|
Fund balances, June 30, 1997 ...............................................................................
|
.. $ 76,464
|
$ 34,087
|
$58,979
|
$150,308
|
$2,557,560
|
$2,877,398
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
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