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