|
STATE OF MARYLAND
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings
Enterprise Funds and Component Unit Proprietary Funds
for the year ended June 30,1999
(Expressed in Thousands)
|
|
|
|
Total
|
|
|
Primary
Government
|
Component Unit
|
Reporting
Entity
|
|
|
Enterprise
|
Proprietary
|
(Memorandum
|
|
|
Funds
|
Funds
|
Only)
|
|
Operating revenues:
|
|
|
|
|
Lottery ticket sales ...............................................................................................
|
$1,080,029
|
|
$1,080,029
|
|
Charges for services and sales ...............................................................................
|
47,866
|
$ 88,104
|
135,970
|
|
Interest and other investment income.......................................................................
|
208,995
|
|
208,995
|
|
Other .....................................................................................................................
|
1,981
|
320
|
2,301
|
|
Total operating revenues ........................................................................................
|
1,338,871
|
88,424
|
1,427,295
|
|
Operating expenses:
|
|
|
|
|
Prizes and claims ...................................................................................................
|
582,192
|
|
582,192
|
|
Commissions .........................................................................................................
|
61,762
|
|
61,762
|
|
Cost of sales and services .....................................................................................
|
28,140
|
|
28,140
|
|
Operation and maintenance of facilities ....................................i..................... ......
|
9,871
|
61,946
|
71,817
|
|
General and administrative ...................................................................................
|
60,535
|
11,488
|
72,023
|
|
Interest..................................................................................................................
|
161,392
|
|
161,392
|
|
Depreciation and amortization...............................................................................
|
2,639
|
8,328
|
10,967
|
|
Provision for insurance on loan losses, net ............................................................
|
27,478
|
(745)
|
26,733
|
|
Other ............................................................................................................
|
29,591
|
1,008
|
30,599
|
|
Total operating expenses .................................................................................
|
963,600
|
82,025
|
1,045,625
|
|
Operating income. ..............................................................................................
|
375,271
|
6,399
|
381,670
|
|
Non-operating revenues (expenses):
|
|
|
|
|
Investment income ................................................................................................
|
2,171
|
6,587
|
8,758
|
|
Interest expense ................................................................................
|
(65)
|
(22,768)
|
(22,833)
|
|
Other .................................................................................................................
|
(1,238)
|
5,388
|
4,150
|
|
Operating income (loss) before transfers .............................................................
|
376,139
|
(4,394)
|
371,745
|
|
Operating transfers in ..........................................................................................
|
44,281
|
|
44,281
|
|
Operating transfers in from primary government ...................................................
|
|
18,678
|
18,678
|
|
Operating transfers out ........................................................................................
|
(417,106)
|
|
(417,106)
|
|
Operating transfers out to primary government ......................................................
|
|
(756)
|
(756)
|
|
Net income .......................................................................................................
|
3,314
|
13,528
|
16,842
|
|
Add: Depreciation of assets acquired from contributed capital ............................
|
254
|
282
|
536
|
|
Increase in retained earnings...............................................................................
|
3,568
|
13,810
|
17,378
|
|
Retained earnings, July 1, 1998 .........................................................................
|
489,835
|
229,656
|
719,491
|
|
Retained earnings, June 30, 1999 .....................................................................
|
$ 493,403
|
$243,466
|
$ 736,869
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
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