| Reconciliation of Governmental Funds Balance Sheet | |||
| to the Statement of Net Assets | |||
| June 30, 2008 | |||
| (Expressed in Thousands) | |||
| Total Fund Balance - Governmental Funds | $3,120,784 | ||
| 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 | 2,750,789 | ||
| Equipment | 1,377,724 | ||
| Infrastructure | 10,867,383 | ||
| Other Capital Assets | 3,901,018 | ||
| Accumulated Depreciation | (8,909,219) | 9,987,695 | |
| 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. | 71,095 | ||
| 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. | 404,196 | ||
| 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. | (13,140) | ||
| 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 | (1,916,537) | ||
| Net OPEB Obligation | (1,234,395) | ||
| Worker's Compensation | (412,619) | ||
| Capital Leases | (51,748) | ||
| Compensated Absences | (477,557) | ||
| Claims and Judgments | (13,635) | (4,106,491) | |
| 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). | |||
| Bonds Payable | (15,883,252) | ||
| Unamortized Premiums | (561,058) | ||
| Less: Deferred Loss on Refundings | (212,830) | ||
| Accrued Interest Payable | (120,588) | (16,352,068) | |
| Net Assets of Governmental Activities | $(6,887,929) |
The accompanying notes are an integral part of the financial statements.