|
STATE OF MARYLAND
Statement of Changes in Fund Balances
Component Unit Higher Education Funds
for the year ended June 30,1999
(Expressed in Thousands)
|
|
Current
Unrestricted
|
Funds
Restricted
|
Loan Funds
|
Endowment
Funds
|
Plant Funds
|
Total
|
|
Revenue and other additions:
Education and general revenues ............................................
|
$ 761,183
|
|
|
|
$ 878
|
$ 762,061
|
|
Auxiliary enterprise revenues ................................................
|
304,862
|
|
|
|
|
304,862
|
|
Government grants and contracts - restricted ......................
|
|
$476,344
|
$ 12
|
|
25
|
476,381
|
|
Private gifts, grants and contracts ......................... .................
|
|
165,576
|
6
|
$ 1,541
|
6,251
|
113,374
|
|
Endowment income..................................................................
|
|
|
|
|
100
|
100
|
|
Investment income ..................................................................
|
|
4,618
|
22
|
60,016
|
6,573
|
71,229
|
|
Gain on disposal of plant assets...... ........................................
|
|
|
|
|
2,098
|
2,098
|
|
Interest on loans receivable ....................................................
|
|
|
1,543
|
|
|
1,543
|
|
Retirement of indebtedness ....................................................
|
|
|
|
|
16,364
|
16,364
|
|
Expended for plant facilities (including $47,167 charged to
|
|
|
|
|
|
|
|
current funds expenditures) ................................................
|
|
|
|
|
227,590
|
227,590
|
|
Other ........................................................................................
|
|
2,062
|
1,661
|
66
|
30,602
|
34,391
|
|
Total revenues and other additions ................................
|
1,066,045
|
588,600
|
3,244
|
61,623
|
290,481
|
2,009,993
|
|
Expenditures and other deductions:
|
|
|
|
|
|
|
|
Educational and general expenditures ..................................
|
1,386,394
|
513,790
|
|
6
|
|
1,900,190
|
|
Auxiliary enterprise expenditures ..........................................
|
235,726
|
1,575
|
|
|
|
237,301
|
|
Indirect costs recovered...... ......... .............................................
|
|
71,788
|
|
|
|
71,788
|
|
Loan cancellations, write-offs and refunds, net of recoveries
|
|
|
373
|
|
|
373
|
|
Retirement of indebtedness ....................................................
|
|
|
|
|
16,365
|
16,365
|
|
Interest on indebtedness. .........................................................
|
|
|
|
|
31,511
|
31,511
|
|
Payment to refunding bond trustee ........................................
|
|
|
|
|
27,955
|
27,955
|
|
Expended for plant facilities (including non-capitalized
|
|
|
|
|
|
|
|
expenditures of $23,890) ......................................................
|
|
|
|
|
204,313
|
204,313
|
|
Disposal of property, plant and equipment ............................
|
|
|
|
|
33,715
|
33,715
|
|
Other ........................................................................................
|
|
|
465
|
1,711
|
274
|
2,450
|
|
Total expenditures and other deductions........................
|
1,622,120
|
587,153
|
838
|
1,717
|
314,133
|
2,525,961
|
|
Net (decrease) increase in fund balance before transfers
|
(556,075)
|
1,447
|
2,406
|
59,906
|
(23,652)
|
(515,968)
|
|
Transfers among funds - (deductions) additions:
|
|
|
|
|
|
|
|
Mandatory:
|
|
|
|
|
|
|
|
Debt service ..........................................................................
|
(55,293)
|
(60)
|
|
|
55,353
|
|
|
Loan fund matching grant ..................................................
|
(528)
|
62
|
466
|
|
|
|
|
Non-mandatory :
|
|
|
|
|
|
|
|
Remodeling, renewals and replacements............ ................
|
(52,065)
|
(503)
|
|
|
52,568
|
|
|
Other ....................................................................................
|
(28,505)
|
2,487
|
28
|
945
|
25,045
|
|
|
Total transfers among funds............ ................................
|
(136,391)
|
1,986
|
494
|
945
|
132,966
|
|
|
Operating transfers from primary government..........................
|
722,185
|
|
|
|
83,307
|
805,492
|
|
Operating transfers to primary government..............................
|
(257)
|
|
|
|
|
(257)
|
|
Net increase in fund balances ........................................
|
29,462
|
3,433
|
2,900
|
60,851
|
192,621
|
289,267
|
|
Fund balances, July 1, 1998 ........................................................
|
107,132
|
34,323
|
61,254
|
190,790
|
2,734,815
|
3,128,314
|
|
Fund balances, June 30, 1999......................................................
|
$136,594
|
$ 37,756
|
$64,154
|
$251,641
|
$2,927,436
|
$3,417,581
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
40
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