STATE OF MARYLAND
Combined Statement of Cash Flows
Enterprise Funds and Component Unit Proprietary Funds
for the year ended June 30,2000
(Expressed in Thousands)
|
Primary
Government
Enterprise
|
Component 1
Unit
Proprietary 1
|
total Reporting
Entity
'Memorandum
|
|
Funds
|
Funds
|
Only)
|
Cash flows from operating activities:
|
|
|
|
Operating income (loss)...........................................................................................................
|
$429,478
|
$ (9,679)
|
$419,799
|
Adjustments to reconcile operating income to net cash provided (used) by operating activities:
|
|
|
|
Depreciation and amortization .............................................................................................
|
2,966
|
12,299
|
15,265
|
Loss on disposal of property, plant and equipment...............................................................
|
215
|
|
215
|
Effect of changes in assets and liabilities:
|
|
|
|
Other accounts receivable ................................................................................................
|
(14,588)
|
2,268
|
(12,320)
|
Tuition contracts receivable... ...........................................................................................
|
|
12,401
|
12,401
|
Due from other funds/primary government.....................................................................
|
(49,541)
|
(4,309)
|
(53,850)
|
Inventories .......................................................................................................................
|
(654)
|
|
(654)
|
Loans and notes receivable...............................................................................................
|
(121,783)
|
|
(121,783)
|
Other assets......................................................................................................................
|
(10,240)
|
(2,186)
|
(12,426)
|
Accounts payable and accrued liabilities..... .............................................................. ........
|
3,133
|
2,590
|
5,723
|
Accrued tuition benefits...................................................................................................
|
|
12,027
|
12,027
|
Due to other funds...........................................................................................................
|
3,676
|
(757)
|
2,919
|
Accrued insurance on loan losses .....................................................................................
|
(5,171)
|
(331)
|
(5,502)
|
Other liabilities ................................................................................................................
|
(1,085)
|
(1,560)
|
(2,645)
|
Deferred revenue.. ............................................................................................................
|
(881)
|
(213)
|
(1,094)
|
Accrued self insurance costs.............................................................................................
|
4
|
83
|
87
|
Accrued annual leave........................................................................................................
|
110
|
70
|
180
|
Lottery installment payments ...............................................................................................
|
(111,475)
|
|
(111,475)
|
Future lottery prize installments ...........................................................................................
|
52,645
|
|
52,645
|
Net cash provided by operating activities .....................................................................
|
176,809
|
22,703
|
199,512
|
Cash flows from non-capital financing activities:
|
|
|
|
Third party contributions.........................................................................................................
|
|
1,000
|
1,000
|
Proceeds from sale of revenue bonds........................................................................................
|
529,587
|
250
|
529,837
|
Payment on revenue bonds.......................................................................................................
|
(394,574)
|
|
(394,574)
|
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)
|
Contributed capital..................................................................................................................
|
41,954
|
|
41,954
|
Grant recoveries.......................................................................................................................
|
74
|
|
74
|
Net cash provided (used) by non-capital financing activities ......................................
|
(153,628)
|
31,214
|
(122,414)
|
Cash flows from capital and related financing activities:
|
|
|
|
Investments in direct financing leases ......................................................................................
|
|
6,897
|
6,897
|
Increase in interest in direct financing lease .............................................................................
|
|
(3,698)
|
(3,698)
|
Proceeds from notes payable and revenue bonds......................................................................
|
2,210
|
121,380
|
123,590
|
Principal paid on notes payable and revenue bonds .................................................................
|
(1,032)
|
(131,918)
|
(132,950)
|
Interest payments .....................................................................................................................
|
(120)
|
(22,064)
|
(22,184)
|
Acquisition and construction of property, plant and equipment ..............................................
|
(3,836)
|
(2,680)
|
(6,516)
|
Decrease in revenue bond debt service account........................................................................
|
|
(397)
|
(397)
|
Proceeds from property, plant and equipment sales.... ..............................................................
|
16
|
66
|
82
|
Net cash used by capital and related financing activities .............................................
|
(2,762)
|
(32,414)
|
(35,176)
|
Cash flows from investing activities:
|
|
|
|
Proceeds from maturity and sale of investments ......................................................................
|
668,370
|
27,835
|
696,205
|
Purchase of investments...........................................................................................................
|
(714,344)
|
(57,580)
|
(771,924)
|
Interest on investments ............................................................................................................
|
21,217
|
4,889
|
26,106
|
Increase in loans and notes receivable ......................................................................................
|
|
209
|
209
|
Lease principal interest payments received.......................... .....................................................
|
|
1,154
|
1,154
|
Net cash used by investing activities ...........................................................................
|
(24,757)
|
(23,493)
|
(48,250)
|
Net decrease in cash and cash equivalents....................................................... ...........
|
(4,338)
|
(1,990)
|
(6,328)
|
Cash and cash equivalents balance, July 1, 1999 ..........................................................................
|
190,721
|
4,251
|
194,972
|
Cash and cash equivalents balance, June 30, 2000 .......................................................................
|
$186,383
|
$ 2,261
|
$188,644
|
Noncash transactions (amount in thousands):
Enterprise funds?Unrealized gain on investments $4,137. The acquisition of equipment totaling $143 which was financed by contributed capital from the State.
Proprietary funds?Unrealized gain on investmensts $1,302.
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
40
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