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STATE OF MARYLAND
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings
Enterprise Funds
for the year ended June 30, 1997
(Expressed in Thousands)
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Economic
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Maryland
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Development
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State
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Insurance
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Loan
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Lottery
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State Use
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Programs
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Programs
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Agency
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Industries
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Total
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Operating revenues:
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Lottery ticket sales...................................................................................................
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$1,043,583
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$1,043,583
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Charges for services and sales........... .....................................................................
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.. $ 8,950
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$ 3,609
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$28,346
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40,905
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Interest and other investment income ..................................................................
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5,756
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227,152
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232,908
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Other............................................................................................................................
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31
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6,414
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6,445
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Total operating revenues .................................................................................
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.. 14,737
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237,175
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1,043,583
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28,346
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1,323,841
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Operating expenses:
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Prizes and claims......................................................................................................
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551,707
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551,707
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Commissions and bonuses ......................................................................................
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57,091
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57,091
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Cost of sales and services.......................................................................................
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23,406
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23,406
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Operation and maintenance of facilities...... .........................................................
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9,637
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9,637
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General and administrative.....................................................................................
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.. 2,230
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12,019
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39,407
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3,577
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57,233
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Interest........................................................................................................................
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170,952
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170,952
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Depreciation and amortization...............................................................................
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16
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1,259
|
770
|
806
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2,851
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Provision for insurance and loan losses........................................ .......................
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.. 27,207
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14,658
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41,865
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Other............................................................................................................................
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24,791
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24,791
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Total operating expenses............. ....................................................................
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.. 29,453
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233,316
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648,975
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27,789
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939,533
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Operating income Qoss) ..............................................................................
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.. (14,716)
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3,859
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394,608
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557
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384,308
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Non-operating revenues (expenses):
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Investment income....................................................................................................
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737
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737
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Interest expense........................................................................................................
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(435)
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(435)
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Other............................................................................................................................
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3,706
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(1)
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3,705
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Income (loss) before transfers .......................................................................
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.. (14,716)
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8,302
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394,173
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556
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388,315
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Operating transfers in..................................................................................................
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41,966
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41,966
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Operating transfers out................................................................................................
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.. (1,369)
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(4,818)
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(392,653)
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(398,840)
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Net income (loss)..............................................................................................
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.. (16,085)
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45,450
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1,520
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556
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31,441
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Add: Depreciation of assets acquired from contributed capital. ..........................
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248
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248
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Increase (decrease) in retained earnings............................ .............. ............
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.. (16,085)
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45,450
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1,520
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804
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31,689
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Retained earnings, July 1, 1996 ..................................................................................
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.. 48,017
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256,188
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2,719
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14,120
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321,044
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Cumulative effect of accounting change for investments......................................
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38,697
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38,697
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Retained earnings, June 30, 1997...............................................................................
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.. $ 31,932
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$340,335
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$ 4,239
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$14,924
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$ 391,430
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The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
77
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