Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2001 GENERAL PURPOSE FINANCIAL STATEMENTS - Notes To Financial Statements - Note 3 Fund Deficits

State of Connecticut

Note 3 Fund Deficits

The following funds have deficit balances at June 30, 2001, none of which constitutes a violation of statutory provisions (amounts in thousands).

Special Revenue
Consumer Counsel and Public Utility Control $ 960
Enterprise
Other $ 963

The Consumer Counsel and Public Utility Control Fund deficit has 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.

 

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