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4. Changes in Accounting Principles and Reporting Practices
In years prior to 1979 the financial statements were presented on the basis of the fund structure and other
accounting principles adopted for budgeting purposes and prescribed by law. Certain changes were made in
accounting principles and reporting practices effective July 1, 1978 to present the financial statements in
conformity with generally accepted accounting principles. The following is a summary of the restatements
(amounts expressed in thousands) made to fund equities as of July 1, 1978 to give retroactive effect to these
changes.
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Annuity
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Budgetary Funds
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General
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Special
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Bond
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Federal
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Loan
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Nonbudgeted
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Higher
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Education
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and
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Special
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Debt
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Capital
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Other
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University
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Fiduciary
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Financial Statement Funds
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General
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Revenue
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Service
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Projects
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Enterprise
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Hospital
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Fund Type
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Budgetary fund equities,
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July 1, 1978 .................
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$185,153
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$138,393
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$ 44,588
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$ 31,597
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$114,635
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$ 625,147
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Adjustments:
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To reclassify budgetary reserves for
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accounts and notes receivable .
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5,392
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161,693
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1,787
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To reclassify budgetary fund equities
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to financial statement fund
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classifications ..............
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177,630
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(13,849)
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78,671
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(31,597)
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(5,279)
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(625,147)
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$ 19,178
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$ 16,469
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$ 383,924
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To reclassify budgetary fund equities
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to liabilities................
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'(91,697)
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To record fund equities of activities
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not included in budgetary fund
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equities ...................
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505,588
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2,185,112
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To record proprietary fund equities .
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(33,366)
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48,304
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863,280
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To adjust taxes, intergovernmental,
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and other accounts receivable
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and deferred revenue ........
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(58,421)
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41,029
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1,632
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7,320
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To adjust accounts payable, accrued
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liabilities and encumbrances . .
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13,423
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14,273
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(6,640)
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Other, net......................
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(14,905)
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(31,422)
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(7,332)
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145
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Total adjustments ........
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31,422
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10,031
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234,664
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(31,597)
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(36,033)
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(625,147)
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573,070
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879,749
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2,569,036
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Fund equities, as restated,
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July 1, 1978 ............
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$216,575
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$148,424
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$279,252
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$ — 0—
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$ 78,602
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$ — 0—
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$573,070
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$879,749
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$2,569,036
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Adjustments to other enterprise fund equities above include $41,379,000 of adjustments to contributed
capital.
In addition, at July 1, 1978, amounts available and to be provided for retirement of general obligation
bonds were adjusted to delete amounts related to bonds authorized and unissued in the amount of
$935,192,000.
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