| Statement of Changes in Fiduciary Net Assets | ||||
| Fiduciary Funds | ||||
| June 30, 2003 | ||||
| (Expressed in Thousands) | ||||
| Private- | ||||
|---|---|---|---|---|
| Pension & | Investment | Purpose | ||
| Other Employee | Trust Fund | Trust Fund | ||
| Benefit | External | Escheat | ||
| Trust Funds | Investment Pool | Securities | Total | |
| Additions | ||||
| Contributions: | ||||
| Plan Members | $305,626 | $- | $- | $305,626 |
| State | 622,769 | - | - | 622,769 |
| Municipalities | 19,450 | - | - | 19,450 |
| Total Contributions | 947,845 | - | - | 947,845 |
| Investment Income | 414,037 | 25,574 | - | 439,611 |
| Less: Investment Expense | (66,225) | (540) | - | (66,765) |
| Net Investment Income | 347,812 | 25,034 | - | 372,846 |
| Escheat Securities Received | - | - | 8,540 | 8,540 |
| Transfers In | 1,369 | - | - | 1,369 |
| Other | 497 | - | - | 497 |
| Total Additions | 1,297,523 | 25,034 | 8,540 | 1,331,097 |
| Deductions | ||||
| Administrative Expense | 1,441 | - | - | 1,441 |
| Benefit Payments and Refunds | 1,652,095 | - | - | 1,652,095 |
| Escheat Securities Returned or Sold | - | - | 30,130 | 30,130 |
| Pool's Share Transactions | - | 195,682 | - | 195,682 |
| Distributions to Pool Participants | - | 25,034 | - | 25,034 |
| Other | 1,508 | - | 4,610 | 6,118 |
| Total Deductions | 1,655,044 | 220,716 | 34,740 | 1,910,500 |
| Change in Net Assets Held In Trust For: | ||||
| Pension and Other Employee Benefits | (357,521) | - | - | (357,521) |
| Individuals, Organizations, and Other Governments | - | (195,682) | (26,200) | (221,882) |
| Net Assets - Beginning | 18,605,611 | 1,244,729 | 60,768 | 19,911,108 |
| Net Assets - Ending | $18,248,090 | $1,049,047 | $34,568 | $19,331,705 |
The accompanying notes are an integral part of the financial statements.