Notes to the Financial Statements
June 30, 2006
Note 21 Restatement of Net Assets/Fund Balances
As of June 30, 2006, the beginning net assets/fund balances for the following funds and activities were restated as follows (amounts in thousands):
| Correction | |||
|---|---|---|---|
| Balance | of | Balance | |
| 6-30-05 | Reported | 6-30-05 | |
| Previously | Assets/ | as | |
| Reported | Liabilities | Restated | |
| Governmental Activities | |||
| Non-Major Funds: | |||
| Restricted Grants & Accounts | $232,510 | $18,470 | $250,980 |
| Total Governmental Funds | $2,474,604 | $18,470 | $2,493,074 |
| Net Assets of Governmental Activities | $(5,390,623) | $18,470 | $(5,372,153) |
During the year, the state adjusted the beginning fund balance of the Restricted Grants and Accounts fund, a special revenue fund, to correct an understatement of federal revenue reported in prior years.