| Reconciliation of the Statement of Revenues, Expenditures and Changes | ||
| in Fund Balances of Governmental Funds to the Statement of Activities | ||
| June 30, 2010 | ||
| (Expressed in Thousands) | ||
| Net Change in Fund Balances - Total Governmental Funds | $63,321 | |
| 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 | (2,617,910) | |
| Refunding Bonds Issued | (344,105) | |
| Premium on Bonds Issued | (189,469) | (3,151,484) |
| 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 | 1,238,055 | |
| Payments to Refunded Bond Escrow Agent | 379,562 | |
| Capital Lease Payments | 5,427 | 1,623,044 |
| 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 and | ||
| other reductions were as follows: | ||
| Capital Outlays | 1,289,114 | |
| Depreciation Expense | (888,234) | |
| Retirements | (549) | 400,331 |
| 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 consumption exceeded purchases of | ||
| inventories. | (9,108) | |
| 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: | ||
| Increase in Accrued Interest | (13,675) | |
| Decrease in Interest Accreted on Capital Appreciation Debt | 96,947 | |
| Amortization of Bond Premium | 78,377 | |
| Amortization of Loss on Debt Refundings | (27,110) | |
| Increase in Compensated Absences Liability | (21,813) | |
| Increase in Workers Compensation Liability | (818) | |
| Increase in Claims and Judgments Liability | (16,599) | |
| Increase in Net Pension Obligation | (241,555) | |
| Increase in Net OPEB Obligation | (1,897,745) | (2,043,991) |
| 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. | (98,586) | |
| 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 internal service funds is reported with the governmental activities. | (14,032) | |
| 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 | 15,450 | |
| Amortization of Debt Issue Costs | (7,608) | 7,842 |
| Change in Net Assets of Governmental Activities | $(3,222,663) |
The accompanying notes are an integral part of the financial statements.