Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2003 Basic FINANCIAL STATEMENTS - Notes To Financial Statements - Note 20 - Interfund Transfer

State of Connecticut

Note 20 Interfund Transfer

Interfund transfers for the fiscal year ended June 30, 2003, consisted of the following (amounts in thousands):

Amount transferred to fund(s)
Debt Other Higher Other
General Service Transpor-
tation
Govern-
mental
Education Proprietary Fiduciary Total
Amount transferred from fund(s)
General $ - $ 1,746 $ - 93,159 724,511 - - $ 819,416
Debt Service 387 - 25,781 396 - - - 26,564
Transportation 52,000 386,071 - 8,500 - - - 446,571
Other Governmental 270,518 16,836 429 38,557 170,123 6,161 1,369 503,993
Connecticut Lottery 256,815 - - - - - - 256,815
Other Proprietary - - - 3,712 - 15,836 - 19,548
Fiduciary 127,256 - - - - - - 127,256
Total $ 706,976 $404,653 $ 26,210 $ 144,324 $894,634 $ 21,997 $ 1,369 $ 2,200,163

Transfers were made to (1) move revenues from the fund that budget or statute requires to collect them to the fund that budget or statute requires to expend them and (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund as debt service payments become due. During 2003, transfers received by the General fund from the Transportation fund, other Governmental funds ($67,705), and Fiduciary funds (Agency fund) were for deficit reduction.