|
STATE OF MARYLAND
Statement of Changes in Fund Balances
Component Unit Higher Education Fund
for the year ended June 30, 1996
(Expressed in Thousands)
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1
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Current
Unrestricted
|
Funds
Restricted
|
Loan Funds
|
Endowment
Funds
|
Plant Funds
|
Total
|
|
Revenues and other additions:
|
|
|
|
|
|
|
|
Education and general revenues. ....................................................
|
$ 550,257
|
|
|
|
$ 822
|
$ 551,079
|
|
Auxiliary enterprises revenues ........................................................
|
320,341
|
|
|
|
|
320,341
|
|
Government grants and contracts — restricted............................
|
|
$349,258
|
|
$ 20
|
3,005
|
352,283
|
|
Private gifts, grants and contracts ..................................................
|
|
80,576
|
$ 212
|
1,737
|
3,251
|
85,776
|
|
Endowment income... ....... ............. ....................................................
|
|
|
|
29
|
|
29
|
|
Investment income..... ........................................................................
|
|
1,956
|
64
|
50
|
2,944
|
5,014
|
|
Realized gain on investments ..........................................................
|
|
|
|
5,690
|
|
5,690
|
|
Gain on disposal of plant assets. ....................................................
|
|
|
|
|
42
|
42
|
|
Interest on loans receivable.............................................................
|
|
|
1,365
|
|
|
1,365
|
|
Retirement of indebtedness .................................................................
|
|
|
|
|
29,434
|
29,434
|
|
Expended for plant facilities (including $33,445 charged to
|
|
|
|
|
|
|
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current funds expenditures)....... ..................................................... .
|
|
|
|
|
206,109
|
206,109
|
|
Other....................................................................................................
|
|
1,181
|
1,594
|
|
9,411
|
12,186
|
|
Total revenues and other additions. .......................................
|
870,598
|
432,971
|
3,235
|
7,526
|
255,018
|
1,569,348
|
|
Expenditures and other deductions:
|
|
|
|
|
|
|
|
Educational and general expenditures...........................................
|
1,174,438
|
370,709
|
|
2
|
|
1,545,149
|
|
Auxiliary enterprises expenditures .................................................
|
188,717
|
1,422
|
|
|
|
190,139
|
|
Indirect cost recovered........ .............................................................
|
|
55,799
|
|
|
|
55,799
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|
Loan cancellations, write-offs and refunds, net of recoveries...
|
|
|
1,172
|
|
|
1,172
|
|
Retirement of indebtedness .............................................................
|
|
|
|
|
29,434
|
29,434
|
|
Interest on indebtedness................................................ .................. .
|
|
|
|
|
20,332
|
20,332
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|
Payment to refunding bond trustee................................................
|
|
|
|
|
|
|
|
Expended for plant facilities (including noncapitialized
|
|
|
|
|
|
|
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expenditures of $7,631)................................... ..............................
|
|
|
|
|
180,295
|
180,295
|
|
Disposal of property, plant and equipment...................................
|
|
|
|
|
13,473
|
13,473
|
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Other....................................................................................................
|
|
|
893
|
411
|
34
|
1,338
|
|
Total expenditures and other deductions ..............................
|
1,363,155
|
427,930
|
2,065
|
413
|
243,568
|
2,037,131
|
|
Net increase (decrease) in fund balances
|
|
|
|
|
|
|
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before transfers ......................................................................
|
(492,557)
|
5,041
|
1,170
|
7,113
|
11,450
|
(467,783)
|
|
Transfers among funds — additions (deductions):
|
|
|
|
|
|
|
|
Mandatory:
|
|
|
|
|
|
|
|
Debt service ....................................................................................
|
(51,673)
|
(41)
|
|
|
51,714
|
|
|
Loan fund matching grant ............................................................
|
(479)
|
|
479
|
|
|
|
|
Non-mandatory:
|
|
|
|
|
|
|
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Remodeling, renewals and replacements.. ................................ .
|
(53,955)
|
(495)
|
|
675
|
53,775
|
|
|
Other................................................................................................
|
(8,574)
|
888
|
(6)
|
(979)
|
8,671
|
|
|
Total transfers among funds ....................................................
|
(114,681)
|
352
|
473
|
(304)
|
114,160
|
|
|
Operating transfers from primary government........ .........................
|
623,850
|
|
|
|
48,061
|
671,911
|
|
Operating transfers to primary government........ ..............................
|
(427)
|
|
|
|
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(427)
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Net increase in fund balances .................................................
|
16,185
|
5,393
|
1,643
|
6,809
|
173,671
|
203,701
|
|
Fund balances, July 1, 1995 .................................................................
|
63,895
|
21,563
|
55,724
|
65,883
|
2,214,938
|
2,422,003
|
|
Fund balances, June 30, 1996 ..............................................................
|
$ 80,080
|
$ 26,956
|
$57,367
|
$72,692
|
$2,388,609
|
$2,625,704
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
38
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