Notes to the Financial Statements
June 30, 2006
Note 16 Long-Term Debt
a) The following is a summary of changes in long-term debt of the primary government for the year ended June 30, 2006, (amounts in thousands):
Balance | Balance | Amounts due | |||
---|---|---|---|---|---|
Governmental Activities | July 1, 2005 | Additions | Reductions | June 30, 2006 | within one year |
Bonds: | |||||
General Obligation | $9,905,242 | $1,173,165 | $866,914 | $10,211,493 | $817,088 |
Transportation | 3,113,875 | 251,076 | 270,950 | 3,094,001 | 266,573 |
13,019,117 | 1,424,241 | 1,137,864 | 13,305,494 | 1,083,661 | |
Plus/(Less) premiums and | |||||
deferred amounts | 229,068 | 51,483 | 13,376 | 267,175 | - |
Total Bonds | 13,248,185 | 1,475,724 | 1,151,240 | 13,572,669 | 1,083,661 |
Economic Recovery Notes | 209,560 | - | 63,470 | 146,090 | 63,270 |
Other Liabilities: | |||||
Net Pension Obligation | 3,636,304 | 1,131,874 | 1,031,042 | 3,737,136 | - |
Compensated Absences | 415,169 | 86,007 | 30,083 | 471,093 | 16,886 |
Workers' Compensation | 298,556 | 122,998 | 77,280 | 344,274 | 75,599 |
Capital Leases | 76,955 | - | 16,464 | 60,491 | 4,098 |
Claims and Judgments | 6,609 | 14,876 | 3,067 | 18,418 | 4,553 |
Contracts Payable & Other | 4,816 | 3,493 | 4,816 | 3,493 | - |
Total Other Liabilities | 4,438,409 | 1,359,248 | 1,162,752 | 4,634,905 | 101,136 |
Governmental Activities Long-Term | |||||
Liabilities | $17,896,154 | $2,834,972 | $2,377,462 | $18,353,664 | $1,248,067 |
In prior years, the General and Transportation funds have been used to liquidate other liabilities. | |||||
Business-Type Activities | |||||
Revenue Bonds | $1,619,658 | $- | $96,528 | $1,523,130 | $95,612 |
Plus/(Less) premiums, discounts and | |||||
deferred amounts | 33,883 | 12,745 | 7,137 | 39,491 | 484 |
Total Revenue Bonds | 1,653,541 | 12,745 | 103,665 | 1,562,621 | 96,096 |
Lottery Prizes | 337,002 | 16,948 | 51,473 | 302,477 | 45,765 |
Compensated Absences | 102,148 | 39,359 | 17,247 | 124,260 | 33,027 |
Other | 165,869 | 62,337 | 47,449 | 180,757 | 11,709 |
Total Other Liabilities | 605,019 | 118,644 | 116,169 | 607,494 | 90,501 |
Business-Type Long-Term Liabilities | $2,258,560 | $131,389 | $219,834 | $2,170,115 | $186,597 |
b) As of June 30, 2006, long-term debt of component units consisted of the following (amounts in thousands):
Long-Term | Balance | Amounts due |
---|---|---|
Debt | June 30, 2006 | within year |
Bonds Payable | $3,638,671 | $110,519 |
Escrow Deposits | 140,575 | 40,383 |
Closure of Landfills | 27,439 | 1,420 |
State Loan | 15,939 | 2,619 |
Deferred Revenue | 5,636 | 824 |
Other | 6,872 | 117 |
Total | $3,835,132 | $155,882 |