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STATE OF MARYLAND
Combining Statement of Cash Flows
Component Unit Proprietary Funds
for the year ended June 30,2000
(Expressed in Thousands)
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Maryland
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Maryland
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Industrial
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Maryland
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Maryland
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Food
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Maryland
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Development
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Prepaid
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Stadium
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Center
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Environment;
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al Financing
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College
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Authority
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Authority
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Service
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Authority
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Trust
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Total
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Cash flows from operating activities:
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Operating income (loss) .....................................................
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$(12,594)
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$(25)
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$ 1,140
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$ 348
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$ 1,452
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$ (9,679)
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Adjustments to reconcile operating income (loss)
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to net cash provided (used)by operating activities:
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Depreciation and amortization .......................................
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9,523
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515
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2,251
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10
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12,299
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Effect of changes in assets and liabilities:
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Other accounts receivable ...........................................
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1,971
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(77)
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357
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17
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2,268
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Tuition contracts receivable.........................................
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12,401
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12,401
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Due from primary government...................................
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(87)
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(232)
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(3,990)
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(4,309)
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Other assets.................................................................
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(2,186)
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(2,186)
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Accounts payable and accrued liabilities. ....................
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(294)
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31
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3,298
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(8)
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(437)
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2,590
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Accrued tuition benefits..............................................
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12,027
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12,027
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Due to primary government .......................................
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(929)
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172
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(757)
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Other liabilities...........................................................
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(2,433)
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(1)
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874
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(1,560)
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Deferred revenue.........................................................
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(268)
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(2)
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57
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(213)
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Accrued insurance on loan losses ................................
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(331)
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(331)
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Accrued self-insurance costs .......................................
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1
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(12)
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94
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83
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Accrued annual leave ..................................................
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18
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44
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8
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70
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Net cash provided (used) by operating activities ......
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(5,092)
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197
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5,872
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(3,907)
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25,633
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22,703
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Cash flows from non-capital financing activities:
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Third party contributions...................................................
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1,000
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1,000
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Proceeds from loans from primary government .................
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250
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250
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Operating transfers in from primary government ..............
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27,710
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2,650
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420
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30,780
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Operating transfers out to primary government ................
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(816)
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(816)
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Net cash provided by non-capital financing activities .......
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28,710
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1,834
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670
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31,214
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Cash flows from capital and related financing activities:
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Investment in direct financing leases .................................
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6,897
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6,897
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Increase in interest in direct financing lease.......................
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(3,112)
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(586)
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(3,698)
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Proceeds from notes payable and revenue bonds. ...............
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121,380
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121,380
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Principal paid on notes payable and revenue bonds ...........
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(128,512)
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(55)
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(3,351)
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(131,918)
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Interest payments................................ ...............................
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(20,408)
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(33)
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(1,623)
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(22,064)
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Acquisition and construction of property, plant and equipment..
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(140)
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(182)
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(2,358)
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(2,680)
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Decrease in revenue bond debt service account... ........ .......
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(397)
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(397)
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Proceeds from property, plant and equipment sales ...........
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66
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66
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Net cash used by capital and related financing activities...
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(23,895)
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(667)
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(7,852)
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(32,414)
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Cash flows from investing activities:
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Proceeds from maturity and sale of investments ................
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(641)
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28,476
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27,835
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Purchase of investments.....................................................
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(32,324)
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(25,256)
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(57,580)
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Interest on investments ......................................................
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709
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470
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1,059
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2,073
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578
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4,889
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Increase in loans and notes receivable ................................
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209
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209
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Lease principal interest payments received ........................
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1,154
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1,154
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Net cash provided (used) by investing activities.......
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277
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470
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(1,635)
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2,073
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(24,678)
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(23,493)
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Net increase (decrease) in cash and cash equivalents. .......
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(3,615)
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1,625
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(1,990)
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Cash and cash equivalents balance, July 1, 1999 ...................
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4,251
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4,251
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Cash and cash equivalents balance, June 30, 2000 ................
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$ ?
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$ ?
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$ 636
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$ ?
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$ 1,625
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$ 2,261
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Noncash transactions (amounts in thousands):
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Maryland Prepaid College Trust ? Unrealized gain on investments $
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11,302.
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The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
48
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