STATE OF MARYLAND

Schedule of Changes in Fund Equities — Budgetary Basis
for the year ended June 30, 1997

(Expressed in Thousands)

					Higher	Education
		Special	Fund		Current	Current	Capital
	General	Other	Debt	Federal	Unrestricted	Restricted	Projects	Other
	Fund	Special	Service	Fund	Fund	Fund	Fund	Funds	Total
Fund equities, July 1, 1996 ..................	$ 594,542 I	& 528,979 ;	$ 53,497	—	$ 178,187	$ 3,153	$ 201,693	$25,099,314	$26,659,365
Increase:
Revenues.........................................	7,577,054	2,632,314	239,191	$3,327,652	1,608,494	422,085	482,111	7,220,794	23,509,695
Decrease:
Appropriations...............................	7,407,805	2,926,441	246,711	3,730,760	1,630,880	445,152
Less: Current year reversions.....	(27,944)	(339,474)	(840)	(334,478)	(31,669)	(23,341)
Prior year reversions .........	(6,166)	(10,168)		(10,541)	(2,343)
Expenditures and
encumbrances............................	7,373,695	2,576,799	245,871	3,385,741	1,596,868	421,811	471,407	3,030,618	19,102,810
Changes to encumbrances during
fiscal year 1997..................................	(38,133)	2,906		(59,188)	1,778	(84)			(92,721)
Expenditures......................................	7,335,562	2,579,705	245,871	3,326,553	1,598,646	421,727	471,407	3,030,618	19,010,089
Transfers in (out)..................................	1,744	9,539		(1,099)	(2,029)	23	(92)	(8,086)
Changes in contributed capital...........								47,472	47,472
Adjustments to beginning equity ........								80,744	80,744
Fund equities, June 30, 1997.... ...........	$ 837,778 !	& 591,127 ,	$ 46,817	$ —	$ 186,006	$ 3,534	$ 212,305	$29,409,620	$31,287,187
Invested in fixed assets............. ...........								$ 2,272,550	$ 2,272,550
Contributed capital ...............................								657,952	657,952
Retained earnings:
Reserved .................................... .........								5,526	5,526
Unreserved.........................................								128,867	128,867
Fund Balance:
Reserved:
Encumbrances ...............................	$ 98,638 i	& 135,308		$ 204,205	$ 7,315	$ 84	$ 357,685		803,235
Agency activities ...........................								124,243	124,243
State reserve fund........... ..............	531,628								531,628
Loans and notes receivable.........	350	3,613	$ 25,490					58,979	88,432
Shore erosion loan programs......		15,848							15,848
Endowment funds. ........................								150,308	150,308
Debt and plant additions .............								283,954	283,954
Pension benefits ............................								24,588,298	24,588,298
Unemployment compensation
benefits............................. ...........								800,507	800,507
Unreserved:
Designated for
General long-term debt
service. ....................................			21,327						21,327
Transportation debt service ....								12,818	12,818
Maryland Transportation
Authority bond debt service								68,565	68,565
1998 Operations.........................	144,475								144,475
Undesignated (deficit) ..................	62,687	436,358		(204,205)	178,691	3,450	(145,380)	257,053	588,654
Total.....................................	$ 837,778 J	1 591,127	$ 46,817	$ —	$ 186,006	$ 3,534	$ 212,305	$29,409,620	$31,287,187

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