Note 3 Fund Deficits
The following funds have deficit balances at June 30, 2002, none of which constitutes a violation of statutory provisions (amounts in thousands).
| General Fund | $ 434,926 |
| Special Revenue | |
| Consumer Counsel & Public Utility Control | 2,076 |
| Capital Projects | |
| State Facilities | 205,449 |
| Enterprise | |
| Second Injury & Compensation Assurance | 96,075 |
| Bradley Parking Garage | 8,519 |
The General Fund and Consumer Counsel and Public Utility Control Fund deficits 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.
The State Facilities deficit will be eliminated in the future by the sale of bonds.
The deficit balance in the Second Injury and Compensation Assurance fund will be eliminated in the future by higher employer assessments.