| Reconciliation of the Statement of Revenues, Expenditures and Changes | |||
| in Fund Balances of Governmental Funds to the Statement of Activities | |||
| June 30, 2002 | |||
| (Expressed in Thousands) | |||
| Net Change in Fund Balances - Total Governmental Funds | $ (1,143,293) | ||
| Amounts reported for governmental activities in the Statement of Activities | |||
| are different because: | |||
| Bond proceeds provide current financial resources to governmental funds, However, | |||
| issuing debt increases long term liabilities in the Statement of Net Assets. Bond | |||
| proceeds were received this year from: | |||
| Bonds Issued | (1,621,001) | ||
| Refunding Bonds Issued | (1,121,670) | ||
| Premium on Bonds Issued | (131,016) | (2,873,687) | |
| Repayment of long-term debt is an expenditure in the governmental funds, but the | |||
| repayment reduces long term liabilities in the Statement of Net Assets. Long-term debt | |||
| repayments this year consisted of: | |||
| Principal Retirement | 824,825 | ||
| Payments to Refunded Bond Escrow Agent | 1,204,925 | ||
| Capital Lease Payments | 5,407 | 2,035,157 | |
| Capital outlays are reported as expenditures in the governmental funds. However in the | |||
| Statement of Activities the cost of those assets is allocated over their estimated useful | |||
| lives and reported as depreciation expense. In the current period, these amounts are: | |||
| Capital Outlays | 907,266 | ||
| Depreciation Expense | (736,882) | 170,384 | |
| Some capital assets acquired this year were financed with capital leases. The amount | |||
| financed by leases is reported in the governmental funds as a source of financing, but | |||
| lease obligations are reported as long-term liabilities on the Statement of Net Assets. | (6,989) | ||
| Inventories are reported as expenditures in the governmental funds when purchased. | |||
| However, in the Statement of Activities the cost of these assets is recognized when those | |||
| assets are consumed. This is the amount by which purchases exceeded consumption of | |||
| inventories. | 7,351 | ||
| Some expenses reported in the Statement of Activities do not require the use of current | |||
| financial resources and therefore are not reported as expenditures in governmental | |||
| funds. These activities consist of: | |||
| Decrease in Accrued Interest | 2,277 | ||
| Increase in Interest Accreted on Capital Appreciation Debt | (10,919) | ||
| Amortization of Bond Premium | 7,125 | ||
| Amortization of Loss on Debt Refundings | (5,529) | ||
| Increase in Compensated Absences Liability | (26,975) | ||
| Decrease in Workers Compensation Liability | 81,234 | ||
| Decrease in Claims and Judgments Liability | 5,385 | ||
| Increase in Net Pension Obligation | (105,902) | (53,304) | |
| Because some revenues will not be collected for several months after the state's fiscal | |||
| year ends, they are not considered "available" revenues and are deferred in the | |||
| governmental funds. Deferred revenues decreased by this amount this year. | (21,767) | ||
| Internal service funds are used by management to charge the costs of certain activities, | |||
| such as insurance and telecommunications, to individual funds. The net revenue | |||
| (expense) of certain internal service funds is reported with the governmental activities. | (8,115) | ||
| Debt issue costs are recorded as expenditures in the governmental funds. However, | |||
| these costs are amortized over the life of the bonds in the Statement of Activities. | |||
| In the current year, these amounts are: | |||
| Debt Issue Costs Payments | 15,011 | ||
| Amortization of Debt Issue Costs | (660) | 14,351 | |
| Change in Net Assets of Governmental Activities | $ (1,879,912) | ||
| The accompanying notes are an integral part of the financial statements. | |||