STATE OF MARYLAND

Combining Statement of Cash Flows

Enterprise Funds
for the year ended June 30,2000

(Expressed in Thousands)

		Economic	Maryland
		Development	State
	Insurance	Loan	Lottery	State Use
	Programs	Programs	Agency	Industries	Total
Cash flows from operating activities:
Operating income............................................................ ..................	$3,983	$ 16,637	$406,867	$1,991	$429,478
Adjustments to reconcile operating income (loss) to net cash provided
(used) by operating activities:
Depreciation and amortization .......................................................	11	1,058	723	1,174	2,966
Loss on disposal of property, plant and equipment.............. . ..........		215			215
Effect of changes in assets and liabilities:
Other accounts receivable ...........................................................		(9,788)	(3,146)	(1,654)	(14,588)
Due from other funds .................................................................	2,537	(44,612)	(9,631)	2,165	(49,541)
Inventories ..................................................................................				(654)	(654)
Loans and notes receivable .........................................................	128	(121,911)			(121,783)
Other assets. ...............................................................................	1,049	(10,521)	(3)	(765)	(10,240)
Accounts payable and accrued liabilities .....................................	201	4,320	(1,305)	(83)	3,133
Due to other funds .....................................................................		(1,723)	5,399		3,676
Accrued insurance on loan losses ................................ ................	(4,985)	(186)			(5,171)
Other liabilities............................... ............................................	7	(1,092)			(1,085)
Deferred revenue ........................................................................	(244)		132	(769)	(881)
Accrued self insurance costs. ...... .................................................	(2)	(8)	13	1	4
Accrued annual leave ..................................................................		(17)	66	61	110
Lottery installment payments .........................................................			(111,475)		(111,475)
Future lottery prize installments .....................................................			52,645		52,645
Net cash provided (used) by operating activities. ............. ........	2,685	(167,628)	340,285	1,467	176,809
Cash flows from non-capital financing activities:
Proceeds from the sale of revenue bonds ...........................................		529,587			529,587
Payment on revenue bonds ................................................................		(394,574)			(394,574)
Operating transfers in........................................................................		77,439			77,439
Operating transfers out......................................................................	(2,732)	(4,363)	(401,013)		(408,108)
Contributed capital.......................................... ..................................		41,813		141	41,954
Grant recoveries.................................................................................		74			74
Net cash (used) provided by non-capital financing activities ...	(2,732)	249,976	(401,013)	141	(153,628)
Cash flows from capital and related financing activities:
Proceeds from notes payable and revenue bonds ...............................			2,210		2,210
Principal paid on notes payable and revenue bonds ...........................			(1,032)		(1,032)
Interest payments...............................................................................			(120)		(120)
Acquisition and construction of property, plant and equipment........	(2)		(2,210)	(1,624)	(3,836)
Proceeds from sale of equipment.......................................................				16	16
Net cash used in capital and related financing activities ..........	(2)		(1,152)	(1,608)	(2,762)
Cash flows from investing activities:
Purchase of investments.....................................................................		(664,749)	(49,595)		(714,344)
Proceeds from maturity and sale of investments ................................	49	556,846	111,475		668,370
Interest on investments......................................................................		21,217			21,217
Net cash (used) provided by investing activities.......................	49	(86,686)	61,880		(24,757)
Net decrease in cash and cash equivalents ...............................		(4,338)			(4,338)
Cash and cash equivalents balance, July 1, 1999 ...................................		189,511	1,200	10	190,721
Cash and cash equivalents balance, June 30, 2000................................	$ —	$185,173	$ 1,200	$ 10	$186,383

Noncash transactions (amount in thousands):

Loan Programs — Unrealized gain on investments $4,137.

State Use Industries (Industries) — The Industries acquired equipment totaling $143 which was financed by contributed capital from the State._____

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