13. Interfund Transfers:

Interfund transfers, as of June 30, 1996, consist of the following (amounts expressed in thousands).

Operating Transfers In	Operating Transfers Out	Amount
General Fund	Special Revenue Fund — Maryland Department of
	Transportation	$ 47,504
	Enterprise Funds —
	Maryland State Lottery Agency	389,909
	Economic Development — Loan Programs	1,730
	Component Units — Higher Education	427
	Maryland Industrial Development Financing Authority	912
Special Revenue Fund — Maryland Department of
Transportation	General Fund	77,515
Maryland Transportation Authority	Special Revenue Fund — Maryland Department of
	Transportation	261
Debt Service Funds —
General Obligation Bonds	General Fund	146,991
Maryland Department of Transportation	Special Revenue Fund — Maryland Department of
	Transportation	121,598
Maryland Transportation Authority	Special Revenue Fund — Maryland Department of
	Transportation	18,234
	Special Revenue Fund — Maryland Transportation Authority	14,795
Capital Projects Fund	General Fund	91,526
Enterprise Funds —
Loan Programs	General Fund	30,531
Component Units —
Higher Education	General Fund	623,850
	Capital Projects Fund	48,061
Maryland Stadium Authority	General Fund	8,428

14. Segment Information:

Activity segments included in enterprise funds are described in Note IB. Selected financial information with
respect to these segments as of and for the year ended June 30, 1996, is as follows (amounts expressed in
thousands).

			Segments	Manufacturing	Savings and Loan Deposit
	Insurance	Loan		(State Use	Insurance
	Programs	Programs	Lottery	Industries)	(MDIFC)	Total
Operating revenues.....................................................	$ 14,937	$ 230,740	$1,114,422	$29,913	$ 228	$1,390,240
Depreciation and amortization .................................	9	1,385	7,277	793		9,464
Operating income (loss) ............................................	287	4,740	387,125	1,451	8	393,611
Operating interfund transfers:
In................................................................................		30,531				30,531
Out.............................................................................		(1,730)	(389,909)			(391,639)
Net income (loss)........ ................................................	287	34,549	(3,618)	1,452	3,946	36,616
Current capital contributions....................................		50,269		5		50,274
Property, plant, and equipment
Additions...................... ........................ .....................	31	39		489		559
Deletions.......... .........................................................		18	7,379	1		7,398
Total assets................... ................................................	123,285	3,451,113	509,123	18,255		4,101,776
Bonds and other long-term liabilities payable
from operating revenues...... .................................		2,558,262	10,481			2,568,743
Total capital .................................................................	96,312	787,977	2,719	15,842		902,850
Net working capital ....................................................	88,402	863,347	468,173	7,359		1,427,281

15. Retirement Benefits:

State Retirement and Pension System of Maryland (System):

The State contributes to the State Retirement and Pension System of Maryland (System), an agent multiple-
employer public employee retirement system established by the State to provide pension benefits for State
employees (other than employees covered by the Mass Transit Administration Pension Plan described below) and
employees of 129 participating political subdivisions or other entities within the State. The non-State entities that
participate within the System receive separate actuarial valuations in order to determine their respective funding
levels and actuarial liabilities. Retirement benefits are paid from the System's pooled assets rather than from assets
relating to a particular plan participant The System is considered part of the State's financial reporting entity and
is included hi the State's financial statements as a Pension Trust Fund. The System prepares a separate audited

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