Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. Significant Enterprise Funds of the State of Connecticut are described as follows:
Rental Housing Fund:
The Rental Housing Fund is used to account for the
financing of various housing programs offered by the
State from bond proceeds and the retirement of such
obligations. Revenue is received from interest earned on
program loans and investment income.
Bradley International Airport:
The airport is owned by the State of Connecticut and is
operated by the Bureau of Aeronautics of the State of Connecticut, Department of Transportation. In 1982, the
State issued the Airport, 1982 series, Revenue Bonds in
the aggregate principal amount of $100,000,000. The
bonds were refunded in 1992 with the issuance of
$94,065,000 in refunding bonds. The refunding bonds are
secured by and payable solely from the gross operating
revenues generated by the State from the operations of
the Airport and other receipts, funds or monies pledged in
the Indenture.
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