|
STATE OF MARYLAND
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings
Enterprise Funds
for the year ended June 30, 1996
(Expressed in Thousands)
|
|
Economic
Development
Insurance
Programs
|
Loan
Programs
|
Maryland
State
Lottery
Agency
|
State Use
Industries
|
Maryland
Deposit
Insurance
Fund
Corporation
|
Total
|
|
Operating revenues:
|
|
|
|
|
|
|
|
Lottery ticket sales .........................................................................
|
|
|
$1,114,422
|
|
|
$1,114,422
|
|
Charges for services and sales .....................................................
|
$ 8,928
|
$ 2,973
|
|
$29,913
|
|
41,814
|
|
Interest and other investment income ........................................
|
5,946
|
225,399
|
|
|
|
231,345
|
|
Other..................................................................................................
|
63
|
2,368
|
|
|
$ 228
|
2,659
|
|
Total operating revenues ...........................................................
|
14,937
|
230,740
|
1,114,422
|
29,913
|
228
|
1,390,240
|
|
Operating expenses:
|
|
|
|
|
|
|
|
Prizes and claims ............................................................................
|
|
|
609,373
|
|
|
609,373
|
|
Commissions and bonuses ............................................................
|
|
|
61,749
|
|
|
61,749
|
|
Cost of sales and services............................................................;
|
|
|
|
24,039
|
|
24,039
|
|
Operation and maintenance of facilities. ......... L.......................L..
|
|
11,422
|
|
|
|
! 11,422
|
|
General and administrative ...........................................................
|
3,506
|
13,232
|
48,898
|
3,630
|
220
|
69,486
|
|
Interest..............................................................................................
|
|
177,559
|
|
|
|
177,559
|
|
Depreciation and amortization .....................................................
|
9
|
1,385
|
7,277
|
793
|
|
9,464
|
|
Provision for insurance and loan losses.....................................
|
11,135
|
6,686
|
|
|
|
17,821
|
|
Other..................................................................................................
|
|
15,716
|
|
|
|
15,716
|
|
Total operating expenses...........................................................
|
14,650
|
226,000
|
727,297
|
28,462
|
220
|
996,629
|
|
Operating income....................................................................
|
287
|
4,740
|
387,125
|
1,451
|
8
|
393,611
|
|
Non-operating revenues (expenses):
|
|
|
|
|
|
|
|
Investment income..... .....................................................................
|
|
1,008
|
|
|
7
|
1,015
|
|
Interest expense ..............................................................................
|
|
|
(834)
|
|
|
(834)
|
|
Other..................................................................................................
|
|
|
|
1
|
3,931
|
3,932
|
|
Income before transfers.............................................................
|
287
|
5,748
|
386,291
|
1,452
|
3,946
|
397,724
|
|
Operating transfers in ........................................................................
|
|
30,531
|
|
|
|
30,531
|
|
Operating transfers out......................... .............................................
|
|
(1,730)
|
(389,909)
|
|
|
(391,639)
|
|
Net income (loss)......... ...............................................................
|
287
|
34,549
|
(3,618)
|
1,452
|
3,946
|
36,616
|
|
Add: Depreciation of cost of assets acquired from contributed
|
|
|
|
|
|
|
|
capital................................................................................................
|
|
|
|
247
|
|
247
|
|
Increase (decrease) in retained earnings................................
|
287
|
34,549
|
(3,618)
|
1,699
|
3,946
|
36,863
|
|
Retained earnings (deficit), July 1, 1995.........................................
|
47,730
|
221,639
|
6,337
|
12,421
|
(3,542)
|
284,585
|
|
Residual equity transfers ...................................................................
|
|
|
|
|
(404)
|
(404)
|
|
Retained earnings, June 30, 1996. ....................................................
|
$48,017
|
$256,188
|
$ 2,719
|
$14,120
|
$ ?
|
$ 321,044
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
77
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