|
————————————————————————————
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Total
|
|
|
Financial
|
Statement
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Funds
|
|
|
|
|
Budgetary
|
|
|
|
|
|
|
|
|
|
Fund
|
|
|
|
|
|
|
|
|
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Equities
|
|
|
|
|
|
|
|
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and Other
|
|
|
|
|
|
Trust
|
|
|
|
Accounts
|
|
Special
|
Debt
|
Capital
|
|
and
|
Higher
|
|
|
June 30, 1988
|
General
|
Revenue
|
Service
|
Projects
|
Enterprise
|
Agency
|
Education
|
|
Classification of budgetary fund equities
|
|
|
|
|
|
|
|
|
|
and other accounts into GAAP fund structure:
|
|
|
|
|
|
|
|
|
|
General ..................................
|
$ 557,725
|
$557,725
|
|
|
|
|
|
|
|
Special revenue............................
|
435,889
|
138,376
|
$101,332
|
$ 82,596
|
$ 13,785
|
$ 99,800
|
|
|
|
Current unrestricted .......................
|
132,603
|
|
|
|
|
|
|
$ 132,603
|
|
Current restricted .........................
|
1,759
|
|
|
|
|
|
|
1,759
|
|
Other accounts (a):
|
|
|
|
|
|
|
|
|
|
Non-budgeted ...........................
|
43,153
|
39,959
|
2,107
|
|
|
1,087
|
|
|
|
Debt service transportation bonds ..........
Capital projects ..........................
|
84,192
174,012
|
|
|
84,192
|
87,347
|
86,665
|
|
|
|
Enterprise ..............................
|
1,741,559
|
|
|
|
|
1,741,559
|
|
|
|
Expendable trust ........................
|
618,779
|
|
|
|
|
|
$ 618,779
|
|
|
Nonexpendable trust .....................
|
93,705
|
|
|
|
|
|
93,705
|
|
|
Pension trust ............................
|
8,119,720
|
|
|
|
|
|
8,119,720
|
|
|
Higher education. ........................
|
1,279,724
|
|
|
|
|
|
|
1,279,724
|
|
Budgetary fund equities and other accounts
|
|
|
|
|
|
|
|
|
|
classified into GAAP fund structure: ........
|
$13,282,820
|
736,060
|
103,439
|
166,788
|
101,132
|
1,929,111
|
8,832,204
|
1,414,086
|
|
Accounting principle differences:
|
|
|
|
|
|
|
|
|
|
Assets recognized in the GAAP financial
|
|
|
|
|
|
|
|
|
|
statements not recognized for budgetary
|
|
|
|
|
|
|
|
|
|
purposes:
|
|
|
|
|
|
|
|
|
|
Cash and short term investments ...........
|
|
16,000
|
|
|
|
|
|
|
|
Taxes receivable .........................
|
|
3,726
|
|
|
|
|
|
|
|
Intergovernmental receivables .............
|
|
33,691
|
|
|
|
|
|
|
|
Other accounts receivable .................
|
|
10,948
|
|
|
|
|
|
|
|
Loans and notes receivable ................
|
|
2,500
|
|
|
|
|
|
|
|
Liabilities recognized in GAAP financial
|
|
|
|
|
|
|
|
|
|
statements not recognized for budgetary
|
|
|
|
|
|
|
|
|
|
purposes:
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities
|
|
(39,622)
|
|
|
|
|
|
|
|
Deferred income tax revenue ..............
|
|
45,000
|
|
|
|
|
|
|
|
Local income taxes payable to local income
|
|
|
|
|
|
|
|
|
|
taxes agency fund ......................
|
|
(153,959)
|
|
|
|
|
|
|
|
GAAP financial statement fund equities,
|
|
|
|
|
|
|
|
|
|
June 30, 1988 .............................
|
|
$654,344
|
$103,439
|
$166,788
|
$101,132
|
$1,929,111
|
$8,832,204
|
$1,414,086
|
(a) The State's accounting system is maintained by the Comptroller in compliance with State Law and in
accordance with the State's Budgetary Funds. In addition to the accounting system maintained by the
Comptroller, certain individual agencies which are not subject to the State budget maintain accounting systems
which permit financial reporting on the basis of generally accepted accounting principles. The change in net
assets of agencies whose accounting systems are not entirely maintained by the Comptroller are recorded in the
State's accounting system as of June 30 each year.
In converting the June 30,1988 modified accrual basis financial statements to conform to generally accepted
accounting principles, it became apparent that a mathematical error was made at June 30,1987 in calculating
the accounting principle difference for local income taxes payable to local income taxes agency fund. This
resulted in an overstatement of $55,734,000 in fiscal year 1987 income taxes revenue and the general fund
balance at June 30,1987. The effect on the financial statements for the year ended June 30,1988 is a reduction
of $55,734,000 to the previously reported general fund balance.
42
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