STATE OF MARYLAND

Schedule of Changes in Fund Equities — Budgetary Basis
for the year ended June 30, 1996

(Expressed in Thousands)

					Higher Ed	lucation
		Special	Fund		Current	Current	Capital
	General	Other	Debt	Federal	Unrestricted	Restricted	Projects	Other
	Fund	Special	Service	Fund	Fund	Fund	Fund	Funds	Total
Fund equities, July 1, 1995. ................	.$ 470,576	$ 579,911	$ 51,446	$ —	$ 159,282	$ 3,504	$ 92,803	$22,697,686(A)	$24,055,208
Increase:
Revenues.................... ...... ..............	. 7,455,158	2,344,792	318,566	2,903,416	1,509,199	381,085	566,833	5,450,766	20,929,815
Decrease:
Appropriations................ ..............	. 7,464,671	2,719,039	317,862	3,428,874	1,538,299	416,336
Less: Current year reversions....	. (76,513)	(243,598)	(1,649)	(486,234)	(47,864)	(34,899)
Prior year reversions ........	• (4,712)	(5,230)		(9,256)	(479)
Expenditures and
encumbrances. ..........................	. 7,383,446	2,470,211	316,213	2,933,384	1,489,956	381,437	458,744	3,044,161	18,477,552
Changes to encumbrances during
fiscal year 1996.................................	J (19,842)	(48,847)		(31,865)	(1,314)				(101,868)
Expenditures ...............................:.....	, 7,363,604	2,421,364	316,213	2,901,519	1,488,642	381,437	458,744	3,044,161	18,375,684
Transfers in (out) .................................	32,412	25,640	(302)	(1,897)	(1,652)	1	801	(55,003)
Changes in contributed capital..........								50,026	50,026
Residual Equity transfers....................
Fund equities, June 30, 1996. .............	.$ 594,542	$ 528,979	$ 53,497	$ —	$ 178,187	$ 3,153	$ 201,693	$25,099,314	$26,659,365
Invested in fixed asset ........................								$ 2,110,884	$ 2,110,884
Contributed capital ..............................								610,480	610,480
Retained earnings:
Reserved ............................................								5,297	5,297
Unreserved ........................................								344,699	344,699
Fund Balance:
Reserved:
Encumbrances ..............................	.$ 60,530	$ 137,301		$ 144,951	$ 9,094		$360,684		712,560
Agency activities ..........................								33,035	33,035
State reserve fund........................	. 519,673								519,673
Loans and notes receivable........	1,234		$ 24,924					1,288	27,446
Loans to other funds ...................		3,613	6,372						9,985
Shore erosion loan programs.....		16,074							16,074
Higher education programs ........								102,598	102,598
Endowment funds.... ....................								72,692	72,692
Debt and plant additions. ...........								276,709	276,709
Pension benefits ...........................								20,790,270	20,790,270
Unemployment compensation
benefits......................... ..............								739,120	739,120
Unreserved:
Designated for
General long-term debt
service ....................................			14,030						14,030
Transportation debt service ...								32,860	32,860
Maryland Transportation
Authority
bond debt service.................								66,170	66,170
Higher education debt
service ................................... .
1997 Operations........................	3,095								3,095
Undesignated (deficit) .................	10,010	371,991	8,171	(144,951)	169,093	$ 3,153	(158,991)	(86,788)	171,688
Total....................................	.$ 594,542	$ 528,979	$ 53,497	$ —	$ 178,187	$ 3,153	$ 201,693	$25,099,314	$26,659,365

(A) Fund equity, July 1, 1995, was restated.

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