STATE OF MARYLAND

Schedule of Changes in Fund Equities — Budgetary Basis
for the year ended June 30, 1989

(Expressed in Thousands)

					Higher	Education
		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, 1988 .......	$ 557,725	$ 353,293	$ 82,596		$ 132,603	$ 1,759	$174,012	$11,980,832	$13,282,820
Increase:
Revenues ...................	5,537,506	1,791,217	312,566	$1,729,959	1,071,557	203,027	270,282	2,829,923	13,746,037
Decrease:
Appropriations ...............	5,475,495	1,917,550	308,079	1,948,045	1,064,210	206,187
Less: Current year reversions . .	(12,816)	(159,137)		(184,669)	(12,860)	(3,553)
Prior year reversions . .	(2,139)	(2,429)		(3,221)	(826)
Expenditures and encumbrances	5,460,540	1,755,984	308,079	1,760,155	1,050,524	202,634	267,890	1,630,213	12,436,019
Changes to encumbrances during
fiscal year 1989 ..............	124	(45,737)		(8,166)	422	(15)			(53,372)
Expenditures ..................	5,460,664	1,710,247	308,079	1,751,989	1,050,946	202,619	267,890	1,630,213	12,382,647
Transfers in (out) ................	12,016	4,843	(1,182)	22,030	(51)	51	(23,686)	(14,021)
Changes in contributed capital ....								25,725	25,725
Removal of nonexpendable trust
fund from reporting entity ......								(93,705)	(93,705)
Fund equities, June 30, 1989 ......	$ 646,583	$ 439,106	$ 85,901	$ -0-	$ 153,163	$ 2,218	$152,718	$13,098,541	$14,578,230
Invested in fixed assets ..........								$ 1,445,288	$ 1,445,288
Contributed capital ..............								1,017,085	1,017,085
Capital deposits by members ......								144,224	144,224
Retained earnings:
Reserved ....................								3,416	3,416
Unreserved ..................								881,456	881,456
Fund Balance:
Reserved:
Encumbrances ...............	$ 43,722	$ 91,088		$ 31,935	$ 12,096	$ 16	$297,206		476,063
Loans and notes receivable ....			$ 55,858						55,858
Loans to other funds ..........	1,445		9,829						11,274
Higher education programs ....								41,020	41,020
Shore erosion loan programs . . .		14,254							14,254
Endowment funds ............								41,387	41,387
Pension benefits .............								9,090,704	9,090,704
Unemployment compensation
benefits ...................								643,566	643,566
Unreserved:
Designated for:
General long-term debt service			20,214						20,214
Transportation debt service . . .								92,300	92,300
State reserve fund ..........	210,729								210,729
Emergency medical services
system ...................		19,889							19,889
Fiscal year 1990 operations . .	348,338								348,338
Undesignated (deficit) .........	42,349	313,875		(31,935)	141,067	2,202	(144,488)	(301,905)	21,165
Total ....................	$ 646,583	$ 439,106	$ 85,901	$ -0-	$ 153,163	$ 2,218	$152,718	$13,098,541	$14,578,230

75