|
STATE OF MARYLAND
Combining Statement of Changes in Plan Net Assets
Pension Trust Funds
for the year ended June 30, 1997
(Expressed in Thousands)
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Teachers'
Retirement
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Retirement
Employees'
Retirement
|
and Pension
Judges'
|
System of
State Police
|
Maryland
Local Fire
|
Natural
Resources
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|
Mass Transit
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|
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and Pension
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and Pension
|
Retirement
|
Retirement
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and Police
|
Pension
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|
Administration
|
|
|
|
Systems
|
Systems
|
System
|
System
|
System
|
System
|
Subtotal
|
Pension Plan
|
Total
|
|
Additions:
|
|
|
|
|
|
|
|
|
|
|
Contributions:
|
|
|
|
|
|
|
|
|
|
|
Employers........................... .......
|
$ 24,343
|
$ 208,821
|
$ 12,630
|
$ 10,918
|
$ 927
|
$ 4,237
|
$ 261,876
|
$11,502
|
$ 273,378
|
|
Members ....................................
|
49,829
|
28,581
|
1,149
|
4,866
|
7
|
12
|
84,444
|
|
84,444
|
|
Other ..........................................
|
478,081
|
|
301
|
|
|
24,727
|
503,109
|
|
503,109
|
|
Total contributions...............
|
552,253
|
237,402
|
14,080
|
15,784
|
934
|
28,976
|
849,429
|
11,502
|
860,931
|
|
Investment income:
|
|
|
|
|
|
|
|
|
|
|
Net appreciation in fair value of
|
|
|
|
|
|
|
|
|
|
|
investment .................................
|
1,903,511
|
1,174,324
|
19,190
|
160,595
|
417
|
5,233
|
3,263,270
|
4,166
|
3,267,436
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|
Interest...........................................
|
403,726
|
223,150
|
6,053
|
22,275
|
328
|
1,200
|
656,732
|
2,912
|
659,644
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|
Dividends .......................................
|
138,030
|
86,020
|
1,493
|
12,208
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41
|
432
|
238,224
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|
238,224
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|
Real estate operating net
|
|
|
|
|
|
|
|
|
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income........................................
|
6,242
|
3,667
|
147
|
488
|
10
|
39
|
10,593
|
|
10,593
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|
Total investment income.....
|
2,451,509
|
1,487,161
|
26,883
|
195,566
|
796
|
6,904
|
4,168,819
|
7,078
|
4,175,897
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|
Less investment expense. ...............
|
108,105
|
64,135
|
2,070
|
8,638
|
125
|
486
|
183,559
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|
183,559
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|
Net investment income .......
|
2,343,404
|
1,423,026
|
24,813
|
186,928
|
671
|
6,418
|
3,985,260
|
7,078
|
3,992,338
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|
Total additions ......................
|
2,895,657
|
1,660,428
|
38,893
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202,712
|
1,605
|
35,394
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4,834,689
|
18,580
|
4,853,269
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|
Deductions:
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|
|
|
|
|
|
|
|
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Benefit payments......... .................
|
592,216
|
360,753
|
12,040
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30,238
|
175
|
2,408
|
997,830
|
7,581
|
1,005,411
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|
Refunds..........................................
|
11,204
|
28,433
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|
410
|
|
13
|
40,060
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|
40,060
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Administrative expenses .............
|
5,800
|
3,429
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64
|
409
|
2
|
13
|
9,717
|
53
|
9,770
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|
Total deductions...................
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609,220
|
392,615
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12,104
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31,057
|
177
|
2,434
|
1,047,607
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7,634
|
1,055,241
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|
Net increase in plan assets ....
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2,286,437
|
1,267,813
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26,789
|
171,655
|
1,428
|
32,960
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3,787,082
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10,946
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3,798,028
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Net assets held in trust for
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|
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pension benefits:
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|
|
|
|
|
|
|
|
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|
July 1, 1996....................................
|
12,409,012
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7,323,447
|
135,077
|
868,492
|
4,438
|
15,222
|
20,755,688
|
34,582
|
20,790,270
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|
June 30, 1997 ................................
|
$14,695,449
|
$8,591,260
|
$161,866
|
$1,040,147
|
$5,866
|
$48,182
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$24,542,770
|
$45,528
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$24,588,298
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The accompanying notes to the general purpose statements are an integral part of these financial statements.
STATE OF MARYLAND
Combining Balance Sheet
Higher Education Component Unit Funds
June 30, 1997
(Expressed in Thousands)
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Current
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Funds
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|
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|
|
|
|
|
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Unrestricted
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Restricted
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Loan Funds
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Funds
|
Plant Funds
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Total
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Assets:
|
|
|
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|
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Cash and cash equivalents ...................................................................................................
|
$ 44,977
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$ 5,301
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$ 5,089
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$ 16,866
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$ 3,141
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$ 75,374
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Investments.............................................................................................................................
|
4,402
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|
128,758
|
1,224
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134,384
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Intergovernmental receivables.............................................................................................
|
3,472
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|
|
|
|
3,472
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Accounts receivable, net of allowance of $8,291 .............................................................
|
33,290
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63,205
|
288
|
15
|
1,893
|
98,691
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|
Due from primary government ............................................................................................
|
161,352
|
1,848
|
233
|
4,669
|
124,847
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292,949
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|
Inventories...............................................................................................................................
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13,557
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70
|
|
|
|
13,627
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|
Loans and notes receivable, net of allowance of $9,188 ........... .....................................
|
22
|
4,091
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53,944
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|
|
58,057
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|
Property, plant and equipment, net... ............................................................................. ....
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|
|
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3,023,734
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3,023,734
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Other assets............................................................................................................................
|
29,988
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|
58
|
|
677
|
30,723
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|
Total assets......................................................................................................................
|
$291,060
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$74,515
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$59,612
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$150,308
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$3,155,516
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$3,731,011
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Liabilities:
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|
|
|
|
|
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|
Accounts payable and accrued liabilities ..........................................................................
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$ 96,441
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$39,948
|
$ 633
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|
$ 25,476
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$ 162,498
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|
Deferred revenue....................................................................................................................
|
37,527
|
130
|
|
|
9
|
37,666
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|
Revenue bonds and other debt..................................... .......................................................
|
|
|
|
|
565,557
|
565,557
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|
Accrued workers' compensation costs ..............................................................................
|
16,984
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|
|
|
|
16,984
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|
Accrued annual leave............................................................................................................
|
63,644
|
350
|
|
|
|
63,994
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|
Obligations under capital leases..........................................................................................
|
|
|
|
|
6,914
|
6,914
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|
Total liabilities ................................................................................................................
|
214,596
|
40,428
|
633
|
|
597,956
|
853,613
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|
Fund balances:
|
|
|
|
|
|
|
|
Investment in fixed assets....................................................................................................
|
|
|
|
|
2,272,550
|
2,272,550
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|
Reserved for
|
|
|
|
|
|
|
|
Encumbrances....................................................................................................................
|
13,953
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|
|
|
1,056
|
15,009
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|
Sponsored research ...........................................................................................................
|
|
34,087
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|
|
|
34,087
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|
Loans to students...............................................................................................................
|
|
|
58,979
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|
|
58,979
|
|
Endowment....................................................................................................
|
|
|
|
$150,308
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|
150,308
|
|
Debt and plant additions ..................................................................................................
|
|
|
|
|
283,954
|
283,954
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|
Unreserved, undesignated...........................................................................
|
62,511
|
|
|
|
|
62,511
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|
Total fund balances........................................................................................................
|
76,464
|
34,087
|
58,979
|
150,308
|
2,557,560
|
2,877,398
|
|
Total liabilities and fund balances..............................................................................
|
$291,060
|
$74,515
|
$59,612
|
$150,308
|
$3,155,516
|
$3,731,011
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
81
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