| Reconciliation of Governmental Funds Balance Sheet | ||
| to the Statement of Net Assets | ||
| June 30, 2003 | ||
| (Expressed in Thousands) | ||
| Total Fund Balance - Governmental Funds | $1,491,443 | |
| Net assets reported for governmental activities in the Statement of Net Assets | ||
| are different because: | ||
| Capital assets used in governmental activities are not financial resources | ||
| and therefore are not reported in the funds. These assets consist of: | ||
| Buildings | 2,538,430 | |
| Equipment | 1,188,423 | |
| Infrastructure | 10,893,203 | |
| Other Capital Assets | 1,284,132 | |
| Accumulated Depreciation | (6,435,185) | 9,469,003 |
| Debt issue costs are recorded as expenditures in the funds. However, | ||
| these costs are deferred (reported as other assets) and amortized over the | ||
| life of the bonds in the Statement of Net Assets. | 26,294 | |
| Some of the state's revenues will be collected after year-end but are not | ||
| available soon enough to pay for the current period's expenditures | ||
| and therefore are deferred in the funds. | 408,884 | |
| Internal service funds are used by management to charge the costs of | ||
| certain activities to individual funds. The assets and liabilities of the internal | ||
| service funds are included in governmental activities in the Statement of | ||
| Net Assets. | 33,393 | |
| Long-term liabilities are not due and payable in the current period and therefore | ||
| are not reported in the funds (Note 16). | ||
| Net Pension Obligation | (3,256,597) | |
| Worker's Compensation | (265,645) | |
| Capital Leases | (67,988) | |
| Compensated Absences | (342,349) | |
| Claims and Judgments | (7,612) | (3,940,191) |
| Long-term bonded debt is not due and payable in the current period and | ||
| therefore is not reported in the funds. Unamortized premiums, loss on | ||
| refundings, and interest payable are not reported in the funds. However, | ||
| these amounts are included in the Statement of Net Assets. This is the net | ||
| effect of these balances on the statement (Note 16). | ||
| Economic Recovery Note | (219,235) | |
| Bonds Payable | (12,422,169) | |
| Unamortized Premiums | (233,093) | |
| Less: Deferred Loss on Refundings | 127,974 | |
| Accrued Interest Payable | (89,287) | (12,835,810) |
| Net Assets of Governmental Activities | (5,346,984) |
The accompanying notes are an integral part of the financial statements.