State of Connecticut

Statement of Net Assets
June 30, 2008
(Expressed in Thousands)
Primary Government
Governmental Business-Type Component
Activities Activities Total Units
Assets        
Current Assets:        
Cash and Cash Equivalents $1,602,206 $628,173 $2,230,379 $227,305
Deposits with U.S. Treasury - 610,917 610,917 -
Investments 738,830 53,361 792,191 381,095
Receivables, (Net of Allowances) 2,023,492 703,619 2,727,111 50,527
Due from Primary Government - - - 12,800
Inventories 50,020 11,860 61,880 3,710
Restricted Assets - 46,631 46,631 1,805,387
Internal Balances (222,678) 222,678 - -
Other Current Assets 14,355 18,704 33,059 2,365
Total Current Assets 4,206,225 2,295,943 6,502,168 2,483,189
Noncurrent Assets:        
Cash and Cash Equivalents - 154,333 154,333 -
Due From Component Units 5,057 - 5,057 -
Investments - 287,993 287,993 40,573
Receivables, (Net of Allowances) 204,537 559,743 764,280 151,609
Restricted Assets 684,117 460,606 1,144,723 4,073,221
Capital Assets, (Net of Accumulated Depreciation) 10,045,466 3,347,602 13,393,068 425,087
Other Noncurrent Assets 71,847 46,260 118,107 9,780
Total Noncurrent Assets 11,011,024 4,856,537 15,867,561 4,700,270
Total Assets 15,217,249 7,152,480 22,369,729 7,183,459
Liabilities        
Current Liabilities:        
Accounts Payable and Accrued Liabilities 785,414 292,693 1,078,107 72,351
Due to Component Units 12,800 - 12,800 -
Due to Other Governments 124,070 33 124,103 -
Current Portion of Long-Term Obligations 1,315,880 176,196 1,492,076 193,749
Amount Held for Institutions - - - 1,139,532
Deferred Revenue 11,538 198,204 209,742 -
Medicaid Liability 507,899 - 507,899 -
Liability for Escheated Property 184,235 - 184,235 -
Other Current Liabilities 135,727 73,950 209,677 39,305
Total Current Liabilities 3,077,563 741,076 3,818,639 1,444,937
Noncurrent Liabilities:        
Non-Current Portion of Long-Term Obligations 19,027,615 1,726,924 20,754,539 3,898,073
Total Noncurrent Liabilities 19,027,615 1,726,924 20,754,539 3,898,073
Total Liabilities 22,105,178 2,468,000 24,573,178 5,343,010
Net Assets        
Invested in Capital Assets, Net of Related Debt 4,930,749 2,578,856 7,509,605 304,906
Restricted For:        
Transportation 137,370 - 137,370 -
Debt Service 647,400 66,376 713,776 17,181
Restricted Purposes 661,371 - 661,371 -
Capital Projects - 99,922 99,922 -
Unemployment Compensation - 740,636 740,636 -
Clean Water and Drinking Water Projects - 655,557 655,557 -
Bond Indenture Requirements - 2,508 2,508 812,680
Loans - 6,241 6,241 -
Permanent Investments or Endowments:        
Expendable 2,446 - 2,446 109,978
Nonexpendable 92,015 14,846 106,861 249,762
Other Purposes 100,775 171,760 272,535 51,151
Unrestricted (Deficit) (13,460,055) 347,778 (13,112,277) 294,791
Total Net Assets (Deficit) $(6,887,929) $4,684,480 $(2,203,449) $1,840,449

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