Note 17 Restatement of Retained Earnings
As of June 30, 2000, the beginning retained earnings for the following funds were restated as follows (amounts in thousands):
| Fund |
Balance 6/30/99 Previously Reported |
Correction of Reported Assets/ Liabilities |
Balance 6/30/99 as Restated |
|---|---|---|---|
| Internal Service: | |||
| Information Technology | $ 19,651 | $ (2,561) | $ 17,090 |
| Administrative Services | 19,559 | 1,569 | 21,128 |
| Component Units: | |||
| Capital City Economic | |||
| Development Authority | - | 455 | 455 |
For the year 2000, the State added a new component unit to its financial reporting entity, the Capital City Economic Development Authority. This new addition has no significant effect on the operations or financial position of the State.