|
STATE OF MARYLAND
Combining Statement of Cash Flows
Enterprise Funds
for the year ended June 30,1999
(Expressed in Thousands)
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|
Economic
Development
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Maryland
State
|
|
|
|
|
Insurance
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Loan
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Lottery
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State Use
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|
|
|
Programs
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Programs
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Agency
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Industries
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Total
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|
Cash flows from operating activities:
|
|
|
|
|
|
|
Operating (loss) income... ......................................................................................
|
. $ (615)
|
$(17,752)
|
$ 391,646
|
$ 1,992
|
$ 375,271
|
|
Adjustments to reconcile operating income (loss) to net cash provided (used)
|
|
|
|
|
|
|
by operating activities:
|
|
|
|
|
|
|
Depreciation and amortization.........................................................................
|
14
|
1,070
|
609
|
946
|
2,639
|
|
Loss on disposal of property, plant and equipment.........................................
|
|
377
|
|
2
|
379
|
|
Effect of changes in assets and liabilities:
|
|
|
|
|
|
|
Other accounts receivable .............................................................................
|
|
4,383
|
(2,042)
|
(18)
|
2,323
|
|
Due from other funds ...................................................................................
|
(113)
|
(20,629)
|
10,340
|
(1,397)
|
(11,799)
|
|
Inventories .....................................................................................................
|
|
|
|
(775)
|
(775)
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|
Loans and notes receivable ...........................................................................
|
(252)
|
21,342
|
|
|
21,090
|
|
Other assets...................................................................................................
|
1,828
|
(22,547)
|
26
|
(619)
|
(21,312)
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|
Accounts payable and accrued liabilities .....................................................
|
59
|
(2,758)
|
(690)
|
(161)
|
(3,550)
|
|
Due to other funds.........................................................................................
|
|
593
|
(2,843)
|
|
(2,250)
|
|
Accrued insurance on loan losses .................................................................
|
1,979
|
(149)
|
|
|
1,830
|
|
Other liabilities ........................................................................... .;..... ...........
|
(24)
|
568
|
|
|
544
|
|
Deferred revenue ...........................................................................................
|
(341)
|
(138)
|
70
|
938
|
529
|
|
Accrued self-insurance costs .........................................................................
|
4
|
1
|
5
|
(3)
|
7
|
|
Accrued annual leave ...................................................................................
|
|
48
|
517
|
22
|
587
|
|
Lottery installment payments .........................................................................
|
|
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(60,463)
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|
(60,463)
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|
Future lottery prize installments .....................................................................
|
|
|
49,991
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|
49,991
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|
Net cash provided (used) by operating activities.. ...................................
|
2,539
|
(35,591)
|
387,166
|
927
|
355,041
|
|
Cash flows from non-capital financing activities:
|
|
|
|
|
|
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Proceeds from the sale of revenue bonds .............................................................
|
|
473,978
|
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|
473,978
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|
Payment on revenue bonds ...................................................................................
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|
(414,539)
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|
|
(414,539)
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|
Operating transfers in...........................................................................................
|
|
44,281
|
|
|
44,281
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|
Operating transfers out.................. .......................................................................
|
. (2,439)
|
(21,446)
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(393,221)
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|
(417,106)
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|
Contributed capital ...............................................................................................
|
|
80,793
|
|
9
|
80,802
|
|
Grant recoveries.....................................................................................................
|
|
735
|
|
|
735
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|
Net cash (used) provided by non-capital financing activities .................
|
. (2,439)
|
163,802
|
(393,221)
|
9
|
(231,849)
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|
Cash flows from capital and related financing activities:
|
|
|
|
|
|
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Proceeds from notes payable and revenue bonds ...............................................
|
|
|
908
|
|
908
|
|
Principal paid on notes payable and revenue bonds ...........................................
|
|
|
(647)
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|
(647)
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|
Interest payments .................................................................................................
|
|
|
(65)
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|
(65)
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|
Acquisition and construction of property, plant and equipment .......................
|
(3)
|
(2)
|
(907)
|
(936)
|
(1,848)
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|
Net cash used in capital and related financing activities.......................
|
(3)
|
(2)
|
(711)
|
(936)
|
(1,652)
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|
Cash flows from investing activities:
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|
|
|
|
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Purchase of investments .......................................................................................
|
(150)
|
(731,422)
|
(53,697)
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|
(785,269)
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|
Proceeds from maturity and sale of investments ...............................................
|
53
|
602,002
|
60,463
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|
662,518
|
|
Interest and gains on investments .......................................................................
|
|
200
|
|
|
200
|
|
Net cash (used) provided by investing activities .....................................
|
(97)
|
(129,220)
|
6,766
|
|
(122,551)
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|
Net decrease in cash and cash equivalents .............................................
|
|
(1,011)
|
|
|
(1,011)
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|
Cash and cash equivalents balance, July 1, 1998 ...................................................
|
|
190,522
|
1,200
|
10
|
191,732
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|
Cash and cash equivalents balance, June 30, 1999... ...... ........................................
|
. $ -
|
$ 189,511
|
$ 1,200
|
$ 10
|
$ 190,721
|
84
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