State of Connecticut

ACCOUNTING BASIS OF THE REPORT

This report has been prepared on a modified cash basis of accounting, consistent with the prior fiscal year. 

Expenditures are charged against appropriations of the year in which they are paid. Revenues are recognized when received except, in the General and Transportation Funds, for certain accrued taxes and Indian gaming payments and for Federal and other restricted grant revenues which are recognized when earned. 

The amount of accrued taxes and Indian gaming payments recorded at June 30, 2001, and June 30, 2000, are as follows:

 

Fiscal Year Ended June 30,
(In Thousands)
2001 2000
General Fund
Taxes:
Sales and Use $ 416,482 $ 357,752
Personal Income 230,375 217,159
Hospital Gross Receipts - 19
Public Service Corporations 34,651 31,823
Corporation 25,296 19,566
Petroleum Companies 30,152 29,021
Cigarettes 8,177 7,699
Alcoholic Beverages 6,196 3,997
Indian Gaming Payments 29,261 26,285
Total General Fund 780,590 693,321
Transportation Fund
Gasoline 31,897 38,156
Special Motor Fuel 3,995 4,066
Motor Carrier Road 590 1,183
Total Transportation Fund 36,482 43,405
Totals $ 817,072 $ 736,726