June 30,1996
(Amounts in thousands unless otherwise stated)
Related organizations are legally separate organizations which are not financially accountable to the State. However, these organizations are still related to the State as discussed next.
The State appoints a voting majority of the following organizations' governing boards: the University of Connecticut Educational Properties, Inc. (UCEPI), the Community Economic Development Fund, and the Connecticut Student Loan Foundation. The State's accountability for these organizations does not extend beyond making the appointments. During the fiscal year, UCEPI received a $0.2 million operating grant from the State, and as of June 30, 1996, the Connecticut Student Loan Foundation owed the State $21.8 million under a revolving loan agreement.
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