STATE OF CONNECTICUT Comprehensive Annual Financial Report - Notes to the Financial Statements - Note 2 - BUDGETARY BASIS VS. GAAP

State of Connecticut

June 30,1997
(Amounts in thousands unless otherwise stated)

Note 2

BUDGETARY BASIS VS. GAAP

The following is a reconciliation of the excess (deficiency) of revenues and other sources over expenditures and other uses as accounted between the budgetary and GAAP basis of accounting:

Financial Statements Fund TypesGeneralSpecial
Revenue
Excess (deficiency) of revenues and other sources over expenditures and other uses (Budgetary basis)$262,639 $32,774
Adjustments:
Increases (decreases) in revenue accruals:
Government Receivables31,4181,106
Other Receivables(3,074)4
(Increases) decreases in expenditure accruals:
Accounts Payable and Other Liabilities(38,314)(842)
Salaries and Fringe Benefits Payable(29,270)982
Increase (decrease) in Continuing Appropriations110,9742,568
Reclass of equity adjustments:
To Other Financing Uses(89,471)-
To Residual Equity Transfer Out7,952 -
Excess (deficiency) of revenues and other sources over expenditures and other uses (GAAP basis) - budgeted funds252,85436,592
To record excess of revenues and other sources over expenditures and other uses for nonbudgeted funds 
      -
45,582
Excess (deficiency) of revenues and other sources over expenditures and other uses (GAAP basis)$252,854 $82,174

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