Enterprise Funds
Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. Significant Enterprise Funds of the State of Connecticut are described as follows:
Rental Housing Fund:
The Rental Housing Fund is used to account for the financing
of various housing programs offered by the State from bond proceeds and the
retirement of such obligations. Revenue is received from interest earned on
program loans and investment income.
Bradley Airport Operations:
The airport is owned by the State of Connecticut and is
operated by the Bureau of Aeronautics of the State of Connecticut, Department of
Transportation. In 1982, the State issued the Airport, 1982 series, Revenue
Bonds in the aggregate principal amount of $100,000,000. The bonds were refunded
in 1992 with the issuance of $94,065,000 in refunding bonds. The refunding bonds
are secured by and payable solely from the gross operating revenues generated by
the State from the operations of the Airport and other receipts, funds or monies
pledged in the Indenture. In 2000, Bradley parking garage bonds were issued in
the amount of $53,800,000. These bonds were issued to build a parking garage at
the airport.
John Dempsey Hospital:
Accounts for the assets, liabilities, revenues and expenses
of the Hospital including the Dental Clinics and the
Thames River Campus. The Governor appoints the Board of Trustees of the University of Connecticut Health Center, including the
Hospital. The Hospital's fiscal year is for the period ending September 30,
1999.
The Connecticut Lottery Corporation:
The Connecticut Lottery Corporation, a public instrumentality
and political subdivision of the State of Connecticut was created on July 1,
1996 for the purpose of generating revenues for the State of Connecticut's
General Fund through the operation of a lottery.