State of Connecticut

ACCOUNTING BASIS OF THE REPORT

This report has been prepared on a modified cash basis of accounting, consistent with the prior fiscal year.

Expenditures are charged against appropriations of the year in which they are paid.

Revenues are recognized when received except, in the General and Transportation Funds, for certain accrued taxes and Indian gaming payments and for Federal and other restricted grant revenues which are recognized when earned. The amount of accrued taxes and Indian gaming payments recorded at June 30, 2009, and June 30, 2008, are as follows:

      Fiscal Year Ended June 30,
      (In Thousands)
      2009 2008
General Fund  
  Taxes:  
    Personal Income $464,910 $503,304
  Sales and Use 302,272 367,233
  Petroleum Companies 63,050  108,844
  Public Service Corporations 60,800  59,894
  Corporation 17,801 24,391
  Nursing Home Provider 28,998  28,898
  Real Estate Conveyance 12,950 18,966
  Cigarettes 21,099 17,650
  Alcoholic Beverages 4,656 4,706
  Indian Gaming Payments 29,913  32,874
  Total General Fund 1,006,449  1,166,760
Transportation Fund   
  Gasoline 31,863 30,199
  Special Motor Fuel 8,851 8,462
  Motor Carrier Road 1,356 1,117
  Total Transportation Fund 42,070 39,778
Totals $1,048,519 $1,206,538