REPORT

OF THE

COMPTROLLER OF THE TREASURY

OF THE

STATE OF MARYLAND

December 23rd, 1936.

To the Honorable,

The General Assembly of Maryland.

Section 9 of Article 19 of the Annotated Code of Maryland
directs that the Comptroller of the Treasury submit an annual
report of the fiscal affairs of the State, and in accordance there-
with I present for your consideration the report for the fiscal
year ended September 30th, 1936.

I direct your attention to Statement "D"—the balance sheet.
The general surplus account at September 30th, 1935, was
$1,113,954.06, and at September 30th, 1936, it was $1,182,799.59.
You will notice a slight improvement in our surplus account. This
was accomplished even after the transfer in 1936 from general
funds of $516,658.84 received during 1935 from 5% collateral
inheritance tax, to the Emergency Bond Issue of 1935 account,
for servicing that loan.

I do not deem it necessary to go into detail in regard to the
various statements contained herein, but your attention is di-
rected to them and I believe you will find them full and comlplete
and satisfactory for your needs.

We have made a careful and conservative estimate of reve-
nues for the fiscal year 1937, which ends on September 30th, of
that year, and, taking into consideration cash receipts from gen-
eral revenues, plus various reversions and transfers from special
funds and loan accounts, we figure the general funds revenues
will be $13,986,370.22, which, added to the surplus of October
1st, will give a grand total of $15,169,169.81. Appropriations for
the year out of general funds, less an estimate for reversions of
$25,000.00, amount to $13,287,037.00, which will provide the