Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2006 BASIC FINANCIAL STATEMENTS - Statement of Net Assets

State of Connecticut

Statement of Net Assets
June 30, 2006
(Expressed in Thousands)
Primary Government
Governmental Business-Type Component
Activities Activities Total Units
Assets        
Current Assets:        
Cash and Cash Equivalents $2,154,451 $492,520 $2,646,971 $191,847
Deposits with U.S. Treasury - 632,318 632,318 -
Investments 134,477 98,480 232,957 345,240
Receivables, (Net of Allowances) 2,033,355 621,357 2,654,712 56,186
Due from Component Units 2,619 - 2,619 -
Due from Primary Government - - - 12,778
Inventories 58,572 10,087 68,659 3,509
Restricted Assets - 82,546 82,546 1,260,718
Internal Balances (210,633) 210,633 - -
Other Current Assets 13,603 15,025 28,628 3,071
Total Current Assets 4,186,444 2,162,966 6,349,410 1,873,349
Noncurrent Assets:        
Cash and Cash Equivalents - 217,435 217,435 -
Due From Component Units 13,320 - 13,320 -
Investments - 312,567 312,567 53,800
Receivables, (Net of Allowances) 177,988 489,445 667,433 123,798
Restricted Assets 675,323 490,598 1,165,921 3,603,376
Capital Assets, (Net of Accumulated Depreciation) 9,754,593 3,225,193 12,979,786 462,640
Other Noncurrent Assets 57,042 59,352 116,394 14,184
Total Noncurrent Assets 10,678,266 4,794,590 15,472,856 4,257,798
Total Assets 14,864,710 6,957,556 21,822,266 6,131,147
Liabilities        
Current Liabilities:        
Accounts Payable and Accrued Liabilities 644,854 257,253 902,107 66,280
Due to Component Units 12,778 - 12,778 -
Due to Primary Government - - - 2,619
Due to Other Governments 63,789 167 63,956 -
Current Portion of Long-Term Obligations 1,248,067 186,597 1,434,664 153,263
Amount Held for Institutions - - - 471,585
Deferred Revenue 8,519 155,717 164,236 -
Medicaid Liability 569,613 - 569,613 -
Liability for Escheated Property 104,719 - 104,719 -
Other Current Liabilities 182,776 83,166 265,942 28,227
Total Current Liabilities 2,835,115 682,900 3,518,015 721,974
Noncurrent Liabilities:        
Non-Current Portion of Long-Term Obligations 17,105,597 1,983,518 19,089,115 3,679,250
Total Noncurrent Liabilities 17,105,597 1,983,518 19,089,115 3,679,250
Total Liabilities 19,940,712 2,666,418 22,607,130 4,401,224
Net Assets        
Invested in Capital Assets, Net of Related Debt 3,469,145 2,407,382 5,876,527 284,295
Restricted For:        
Transportation 102,767 - 102,767 -
Debt Service 640,540 72,547 713,087 31,866
Capital Projects 234,893 110,952 345,845 -
Unemployment Compensation - 762,997 762,997 -
Clean Water and Drinking Water Projects - 566,438 566,438 -
Bond Indenture Requirements - 3,248 3,248 724,815
Loans - 6,318 6,318 -
Permanent Investments or Endowments:        
Expendable 3,241 - 3,241 109,346
Nonexpendable 89,619 14,010 103,629 220,481
Other Purposes 425,633 168,075 593,708 50,400
Unrestricted (Deficit) (10,041,840) 179,171 (9,862,669) 308,720
Total Net Assets (Deficit) $(5,076,002) $4,291,138 $(784,864) $1,729,923

The accompanying notes are an integral part of the financial statements.