Notes to the Financial Statements
June 30, 2011
Note 23 Restatement of Fund Balances/Net Assets, Fund Balance Classifications, and Restricted Assets
Restatement of Fund Balance/Net Assets
As of June 30, 2011, the beginning fund balances/net assets for the following
activities were restated as follows (amounts in thousands):
| Balance | Balance | ||
|---|---|---|---|
| 6-30-10 | Correction | 6-30-10 | |
| Previously | of Reported | as | |
| Reported | Assets/Liabilities | Restated | |
| Governmental Funds and Activities | |||
| Major Funds | |||
| General Fund | $(982,822) | $33,217 | $(949,605) |
| Total Governmental Funds | $1,420,939 | $33,217 | $1,454,156 |
| Net Assets of Governmental Activities | $(13,673,045) | $33,217 | $(13,639,828) |
The beginning fund balance of the General Fund was adjusted to correct an understatement in the balance of taxes receivable reported last year.
Fund Balance - Restricted and Assigned
As of June 30, 2011 restricted and assigned fund balances of nonmajor
governmental funds were comprised as follows:
| Restricted | Assigned | |
|---|---|---|
| Purposes | Purposes | |
| Grant and Loan Programs | $487,514 | $6,989 |
| Capital Projects | 447,502 | - |
| Environmental Programs | 132,023 | - |
| Housing Programs | 106,987 | - |
| Employment Security Administration | 34,295 | - |
| Banking | 17,990 | - |
| Other | 31,186 | 6,982 |
| Total | $1,257,497 | $13,971 |
Restricted Assets
As of June 30, 2011, the government-wide statement of net assets reported $2,969
of restricted net assets, of which $135 million was restricted by enabling
legislation.