|
STATE OF MARYLAND
Combining Statement of Changes in Plan Assets
Pension Trust Funds
for the year ended June 30, 1996
(Expressed in Thousands)
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Teachers'
Retirement
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Retirement
Employees'
Retirement
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and Pension
Judges'
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System of Maryland
State Police
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Local Fire
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Natural
Resources
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|
Mass Transit
|
|
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|
and Pension
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and Pension
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Retirement
|
Retirement
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and Police
|
Pension
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|
Administration
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|
|
|
Systems
|
Systems
|
System
|
System
|
System
|
System
|
Subtotal
|
Pension Plan
|
Total
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|
Additions:
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|
|
|
|
|
|
|
|
|
|
Contributions:
|
|
|
|
|
|
|
|
|
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|
Employers...................................— ..................
|
$ 25,027
|
$ 213,652
|
$ 12,044
|
$ 11,801
|
$ 709
|
$ 4,085
|
$ 267,318
|
$11,918
|
$ 279,236
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|
Members ..........................................................
|
52,941
|
29,148
|
1,082
|
4,671
|
6
|
14
|
87,862
|
|
87,862
|
|
Other ................................................................
|
453,980
|
|
317
|
|
|
|
454,297
|
|
454,297
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|
Total contributions............. ........................
|
531,948
|
242,800
|
13,443
|
16,472
|
715
|
4,099
|
809,477
|
11,918
|
821,395
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|
Investment income:
|
|
|
|
|
|
|
|
|
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|
Net appreciation in fair value of
|
|
|
|
|
|
|
|
|
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investments ................................................. ....
|
1,008,435
|
593,079
|
15,367
|
70,329
|
845
|
2,303
|
1,690,358
|
1,985
|
1,692,343
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|
Interest..............................................—— .............
|
343,810
|
190,836
|
4,742
|
18,144
|
207
|
555
|
558,294
|
2,059
|
560,353
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|
Dividends.............................................................
|
118,880
|
75,743
|
1,140
|
10,900
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32
|
136
|
206,831
|
|
206,831
|
|
Real estate operating net income....................
|
4,480
|
2,686
|
104
|
358
|
7
|
20
|
7,655
|
|
7,655
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|
Total investment income...........................
|
1,475,605
|
862,344
|
21,353
|
99,731
|
1,091
|
3,014
|
2,463,138
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4,044
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2,467,182
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|
Less investment expense ......................................
|
16,065
|
9,646
|
180
|
1,178
|
6
|
21
|
27,096
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|
27,096
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|
Net investment income .................... .........
|
1,459,540
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852,698
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21,173
|
98,553
|
1,085
|
2,993
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2,436,042
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4,044
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2,440,086
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Total additions ............................................
|
1,991,488
|
1,095,498
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34,616
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115,025
|
1,800
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7,092
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3,245,519
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15,962
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3,261,481
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Deductions:
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|
|
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|
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Benefit payments.............:.1.:.:.......:.....................
|
554,795
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302,683
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10,940
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27,228
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188
|
1,887
|
897,721
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6,572
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904,293
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Refunds ................ ................1...............................
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7,074
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43,393
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47
|
357
|
|
|
50,871
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|
50,871
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Administrative expenses...................................
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5,111
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3,037
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56
|
356
|
2
|
6
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8,568
|
37
|
; 8,605
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Total deductions.........................................
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566,980
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349,113
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11,043
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27,941
|
190
|
1,893
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957,160
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6,609
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963,769
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Net increase in plan assets ..........................
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1,424,508
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746,385
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23,573
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87,084
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1,610
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5,199
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2,288,359
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9,353
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2,297,712
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Net assets held in trust for pension benefits:
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|
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July 1, 1995, as restated....................................
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10,984,504
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6,577,062
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111,504
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781,408
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2,828
|
10,023
|
18,467,329
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25,229
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18,492,558
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|
June 30, 1996 ......................................................
|
$12,409,012
|
$7,323,447
|
$135,077
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$868,492
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$4,438
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$15,222
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$20,755,688
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$34,582
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$20,790,270
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The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
STATE OF MARYLAND
Combining Balance Sheet
Component Unit Higher Education Fund
June 30, 1996
(Expressed in Thousands)
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Current
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Funds
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Endowment
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|
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Unrestricted
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Restricted
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Loan Funds
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Funds
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Plant Funds
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Total
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Assets:
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Cash and cash equivalents....................................................................................................................
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... $ 69,224
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$ 6,922
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$ 4,110
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$ 13,104
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$ 2,522
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$ 95,882
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Investments..............................................................................................................................................
|
2,119
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59,581
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1,656
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63,356
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Intergovernmental receivables..............................................................................................................
|
1,511
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|
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1,511
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Accounts receivable, net of allowance of $7,799 ..............................................................................
|
34,351
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52,415
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376
|
7
|
1,369
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88,518
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|
Due from primary government.............................................................................................................
|
... 122,968
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|
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|
150,000
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272,968
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Inventories................................................................................................................................................
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13,349
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17
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|
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13,366
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Loans and notes receivable, net of allowance of $8,824 .................................................................
|
28
|
4,065
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53,285
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57,378
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Property, plant and equipment, net .....................................................................................................
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2,800,386
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2,800,386
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Other assets.............................................................................................................................................
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29,487
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|
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|
715
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30,202
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|
Total assets.......................................................................................................................................
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... $ 273,037
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$ 63,419
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$ 57,771
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$ 72,692
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$ 2,956,648
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$ 3,423,567
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|
Liabilities:
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|
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Accounts payable and accrued liabilities ...........................................................................................
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... $ 81,987
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$ 36,043
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$ 405
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|
$ 25,911
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$ 144,346
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Deferred revenue.....................................................................................................................................
|
37,533
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71
|
|
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37,604
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Revenue bonds and other debt.............................................................................................................
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|
|
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|
534,544
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534,544
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Accrued workers' compensation costs ...............................................................................................
|
15,391
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|
|
|
|
15,391
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|
Accrued annual leave.............................................................................................................................
|
58,046
|
348
|
|
|
|
58,394
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|
Obligations under capital leases...........................................................................................................
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|
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|
7,584
|
7,584
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Total liabilities .................................................................................................................................
|
192,957
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36,462
|
405
|
|
568,039
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797,863
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Fund balances:
|
|
|
|
|
|
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|
Investment infixed assets.....................................................................................................................
|
|
|
|
|
2,110,884
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2,110,884
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|
Reserved for:
|
|
|
|
|
|
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|
Encumbrances.....................................................................................................................................
|
17,259
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|
|
|
1,016
|
18,275
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|
Sponsored research............................................................................................................................
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|
26,957
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|
|
|
26,957
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|
Loans to students................................................................................................................................
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|
57,366
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|
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57,366
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|
Endowment..........................................................................................................................................
|
|
|
|
$ 72,692
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|
72,692
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|
Debt and plant additions ...................................................................................................................
|
|
|
|
|
276,709
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276,709
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|
Unreserved, undesignated.. ....................................................................................................................
|
62,821
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|
|
|
|
62,821
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Total fund balances.........................................................................................................................
|
80,080
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26,957
|
57,366
|
72,692
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2,388,609
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2,625,704
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|
Total liabilities and fund balance.................................................................................................
|
.... $ 273,037
|
$ 63,419
|
$ 57,771
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$ 72,692
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$ 2,956,648
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$ 3,423,567
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
81
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