June 30,1999
Note 3 FUND DEFICITS
The following funds have deficit balances at June 30, 1999, in either unreserved fund balances or unreserved retained earnings, none of which constitutes a violation of statutory provisions (amounts in thousands).
| General Fund | $ 602,696 |
| Special Revenue | |
| Consumer Counsel and Public Utility Control | 3,232 |
| Capital Projects | |
| State Facilities | 90,473 |
| Enterprise Funds | |
| Bradley International Airport | 5,695 |
The General Fund and Consumer Counsel and Public Utility Control Fund deficits have been addressed by Public Act 93-402, subsequently modified by Public Act 99-1(June special session), which among other things, requires any GAAP deficits for budgeted funds existing as of June 30, 2003 to be amortized in fifteen equal increments beginning with the annual budget for fiscal year 2004-2005.
The State Facilities deficit will be eliminated in the future by the sale of bonds.
While the unreserved retained earnings of Bradley has a deficit balance, the total fund
equity of the fund is still positive.
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