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STATE OF MARYLAND
Schedule of Ratio of Annual Debt Service for General
Long-Term Debt to Total General Expenditures
Last Ten Fiscal Years
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|
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(Expressed
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in Thousands)
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Ratio of
Debt Service
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|
|
|
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Total
|
|
to General
|
|
Fiscal
|
|
|
Debt
|
Total General
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Expenditures
|
|
Year
|
Principal
|
Interest
|
Service
|
Expenditures (1)
|
(Percent)
|
|
1997..................................................................
|
$358,850
|
$226,739
|
$585,589
|
$13,385,744
|
4.37%
|
|
1996..................................................................
|
370,675
|
231,324
|
601,999
|
12,824,033
|
4.69
|
|
1995..................................................................
|
282,189
|
223,842
|
506,031
|
12,568,545
|
4.03
|
|
1994..................................................................
|
229,725
|
237,554(2)
|
467,279
|
11,070,143
|
4.22
|
|
1993..................................................................
|
251,539
|
236,614
|
488,153
|
10,542,462
|
4.63
|
|
1992..................................................................
|
235,678
|
215,922
|
451,600
|
10,345,681
|
4.37
|
|
1991..................................................................
|
276,131
|
201,025
|
477,156
|
10,224,347
|
4.67
|
|
1990..................................................................
|
284,216
|
182,981
|
467,197
|
9,375,548
|
4.98
|
|
1989..................................................................
|
272,355
|
182,119
|
454,474
|
8,567,633
|
5.30
|
|
1988..................................................................
|
261,375
|
174,511
|
435,886
|
8,027,477
|
5.43
|
(1) Includes general, special revenue, debt service and capital projects funds.
(2) Includes payments made in advance to refunding escrow account
Source: General Accounting Division, State Comptroller's Office.
STATE OF MARYLAND
Schedule of Taxes Pledged to Consolidated Transportation
Bonds and Net Revenues as Defined for Purposes of
Consolidated Transportation Bonds Coverage Tests (1)
Last Ten Fiscal Years
(Expressed in Thousands)
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|
|
|
|
Yeai
|
r ended Jui
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ie30,
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|
|
|
|
|
|
1997
|
1996
|
1995
|
1994
|
1993
|
1992
|
1991
|
1990
|
1989
|
1988
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|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Taxes and fees:
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|
|
|
|
|
|
|
|
|
|
|
Taxes pledged to bonds ......................
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$ 839,928.
|
$ 813,072 .
|
$ 771,765
|
$ 727,557
|
$ 633,974
|
$553,185
|
$535,131
|
$571,567
|
$581,073
|
$577,224
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|
Other taxes and fees ...........................
|
196,044
|
187,558
|
216,995
|
198,356
|
234,828
|
181,459
|
160,437
|
187,225
|
188,242
|
139,184
|
|
Total taxes and fees.........................
|
1,035,972
|
1,000,630
|
988,760
|
925,913
|
868,802
|
734,644
|
695,568
|
758,792
|
769,315
|
716,408
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|
Operating revenues. ........... ......................
|
218,874
|
203,891
|
212,767
|
198,618
|
162,751
|
160,544
|
160,014
|
147,538
|
142,248
|
140,712
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|
Investment income...................................
|
9,108
|
13,646
|
12,705
|
10,144
|
3,412
|
3,800
|
10,106
|
16,112
|
9,077
|
9,168
|
|
Other...........................................................
|
9,913
|
21,670
|
7,613
|
11,620
|
11,229
|
11,984
|
8,238
|
6,888
|
7,080
|
8,444
|
|
Total revenues ..................................
|
1,273,867
|
1,239,837
|
1,221,845
|
1,146,295
|
1,046,194
|
910,972
|
873,926
|
929,330
|
927,720
|
874,732
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|
Administration, operation and
|
|
|
|
|
|
|
|
|
|
|
|
maintenance expenditures......................
|
769,977
|
784,816
|
709,180
|
689,029
|
623,929
|
564,351
|
580,628
|
544,268
|
501,616
|
472,183
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|
Less: federal funds... .............. ......................
|
(19,966)
|
(21,520)
|
(17,567)
|
(21,904)
|
(19,279)
|
(16,991)
|
(19,969)
|
(16,791)
|
(17,567)
|
(17,771)
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|
Total....................................................
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750,011
|
763,296
|
691,613
|
667,125
|
604,650
|
547,360
|
560,659
|
527,477
|
484,049
|
454,412
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|
Net revenues .....................................
|
$ 523,856
|
$ 476,541
|
$ 530,232
|
$ 479,170
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$ 441,544
|
$363,612
|
$313,267
|
$401,853
|
$443,671 .
|
$420,320
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|
Maximum annual principal and interest
|
|
|
|
|
|
|
|
|
|
|
|
requirements .............................................
|
$ 142,769
|
$ 140,269
|
$ 140,269
|
$ 136,032
|
$ 126,146
|
$118,198
|
$104,972
|
$ 69,034
|
$ 40,327 ,
|
$ 33,594
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|
Ratio of net revenues to maximum
|
|
|
|
|
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|
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|
annual principal and interest
|
|
|
|
|
|
|
|
|
|
|
|
requirements ................................ .............
|
3.67
|
3.40
|
3.78
|
3.52
|
3.50
|
3.08
|
2.98
|
5.82
|
11.00
|
12.51
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|
Ratio of taxes pledged to bonds to
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|
|
|
|
|
|
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|
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|
maximum annual principal and
|
|
|
|
|
|
|
|
|
|
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|
interest requirements.......... .....................
|
5.88
|
5.80
|
5.50
|
5.35
|
5.03
|
4.68
|
5.10
|
8.28
|
14.41
|
17.18
|
Source: The Secretary's Office of the Department of Transportation.
(1) Under the terms of the bond authorizing resolutions, additional Consolidation Transportation Bonds may be issued, provided, among other
conditions, that (i) total receipts, less administration, operation and maintenance expenditures for the preceeding fiscal year equal at least
two times maximum annual debt service on all Consolidated Transportation Bonds outstanding and to be issued and that (ii) total proceeds
from pledged taxes equal at least two times maximum annual debt service on all Consolidated Transportation Bonds outstanding and to be
issued.
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