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 30,2000

(Expressed in Thousands)

			Total
	Primary	Component	Reporting
	Government	Unit	Entity
	Enterprise	Proprietary	(Memorandum
	Funds	Funds	Only)
Operating revenues:
Lottery ticket sales...........................................................................................................	$1,172,882		$1,172,882
Charges for services and sales..................... ......................................................................	50,164	$ 77,927	128,091
Tuition contracts ..............................................................................................................		13,477	13,477
Interest and other investment income ..............................................................................	220,848		220,848
Other................................................................................................................................	6,318	5,217	11,535
Total operating revenues.............. ..............................................................................	1,450,212	96,621	1,546,833
Operating expenses:
Prizes and claims. .............................................................................................................	656,720		656,720
Commissions....................................................................................................................	68,626		68,626
Cost of sales and services..................................................................................................	31,006		31,006
Operation and maintenance of facilities...... .....................................................................	10,098	64,904	75,002
General and administrative..............................................................................................	56,939	12,302	69,241
Interest.............................................................................................................................	152,830		152,830
Depreciation and amortization.........................................................................................	2,966	12,299	15,265
Provision for insurance on loan losses, net .......................................................................	23,712	(582)	23,130
Tuition benefits ................................................................................................................		15,666	15,666
Other................................................................................................................................	17,837	1,711	19,548
Total operating expenses ...........................................................................................	1,020,734	106,300	1,127,034
Operating income .....................................................................................................	429,478	(9,679)	419,799
Non-operating revenues (expenses):
Investment income.............. .............................................................................................	2,299	4,842	7,141
Interest expense... .............................................................................................................	(120)	(22,064)	(22,184)
Other................................................................................................................................	17,475	2,345	19,820
Operating income (loss) before transfers...................................................................	449,132	(24,556)	424,576
Operating transfers in..........................................................................................................	77,439		77,439
Operating transfers in from primary government ................................................................		30,780	30,780
Operating transfers out ........................................................................................................	(408,108)		(408,108)
Operating transfers out to primary government.. ........................................................ .........		(816)	(816)
Net income................................................................................................................	118,463	5,408	123,871
Add: Depreciation of assets acquired from contributed capital ............................................	249	238	487
Increase in retained earnings ................................................................................................	118,712	5,646	124,358
Retained earnings, July 1, 1999. ...........................................................................................	493,403	243,466	736,869
Retained earnings, June 30, 2000.........................................................................................	$ 612,115	$249,112	$ 861,227

The accompanying notes to the general purpose financial statements are an integral part of these financial statements.

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