This report has been prepared on a modified cash basis of accounting, consistent with the prior fiscal year, except as noted in the following paragraph.
Expenditures are charged against appropriations of the year in which they are paid. However, for fiscal year 2002, Public Act 02-1 of the May special session authorized certain fiscal year 2003 expenditures totaling $85.032 million to be accrued to the prior fiscal year.
Revenues are recognized when received except, in the General and Transportation Funds, for certain accrued taxes and Indian gaming payments and for Federal and other restricted grant revenues which are recognized when earned. The amount of accrued taxes and Indian gaming payments recorded at June 30, 2002, and June 30, 2001, are as follows:
| Fiscal Year Ended June 30, | ||
| (In Thousands) | ||
| 2002 | 2001 | |
|---|---|---|
| General Fund | ||
| Taxes: | ||
| Sales and Use | $ 403,725 | $ 416,482 |
| Personal Income | 234,001 | 230,375 |
| Public Service Corporations | 32,146 | 34,651 |
| Corporation | 19,363 | 25,296 |
| Petroleum Companies | 24,949 | 30,152 |
| Cigarettes | 11,363 | 8,177 |
| Alcoholic Beverages | 5,915 | 6,196 |
| Indian Gaming Payments | 30,817 | 29,261 |
| Total General Fund | 762,279 | 780,590 |
| Transportation Fund | ||
| Gasoline | 32,895 | 31,897 |
| Special Motor Fuel | 3,862 | 3,995 |
| Motor Carrier Road | 412 | 590 |
| Total Transportation Fund | 37,169 | 36,482 |
| Totals | $ 799,448 | $ 817,072 |