Note 13 Changes in General Long-Term Debt
The following is a summary of changes in long-term debt for the year ended June 30, 2000 (amounts in thousands):
Balance July 1,1999 |
Issuances and Other Increases |
Retirements and Other Decreases |
Increase (Decrease) Accreted Value |
Balance June 30,2000 |
|
|---|---|---|---|---|---|
| General Obligation Bonds | $ 6,902,197 | $ 994,540 | $ 674,716 | $ (128) | $ 7,221,893 |
| Transportation Related Bonds | 3,191,626 | 150,000 | 264,207 | (7,894) | 3,069,525 |
| Expendable Trust Fund Obligations | 795,935 | 20,000 | 205,870 | - | 610,065 |
| Net Pension Obligation | 2,748,309 | 684,110 | 556,529 | - | 2,875,890 |
| Compensated Absences | 274,772 | 27,508 | 8,189 | - | 294,091 |
| Worker's Compensation | 280,074 | 56,894 | 53,368 | - | 283,600 |
| Capital Leases | 52,050 | 5,664 | 8,308 | - | 49,406 |
| Claims and Judgements | 5,250 | 9,829 | - | - | 15,079 |
| Total General Long-Term Debt Account Group | $ 14,250,213 | $ 1,948,545 | $ 1,771,187 | $ (8,022) | $ 14,419,549 |
The Combined Statement of Revenues, Expenditures and Changes in Fund Balances-All Governmental Fund Types reflects the net proceeds from the sale of bonds and notes in the amount of $1,015.7 million. This amount includes discounts on the sale of certain bonds and premium and accrued interest received at the time of sale in the amount of $.7 million.
Included in retirements of general obligation and transportation related bonds are $196.3 million of bonds which were defeased by cash of $207.7 million.
Additionally, $994.5 million of issuances and other increases for general obligation bonds include $130.8 million of bonds issued by the University of Connecticut and $18.7 million of bonds issued by CHEFA for which the State of Connecticut will pay the principal and interest.
As of June 30, 2000 a liability of $6 million for rebatable arbitrage is included in the liability for claims and judgements.