Reconciliation of Governmental Funds Balance Sheet | ||
to the Statement of Net Assets | ||
June 30, 2009 | ||
(Expressed in Thousands) | ||
Total Fund Balance - Governmental Funds | $1,366,726 | |
Net assets reported for governmental activities in the Statement of Net Assets | ||
are different because: | ||
Capital assets used in governmental activities are not financial resources | ||
and therefore are not reported in the funds. These assets consist of: | ||
Buildings | 2,880,415 | |
Equipment | 1,542,647 | |
Infrastructure | 14,047,034 | |
Other Capital Assets | 2,332,376 | |
Accumulated Depreciation | (9,788,408) | 11,014,064 |
Debt issue costs are recorded as expenditures in the funds. However, | ||
these costs are deferred (reported as other assets) and amortized over the | ||
life of the bonds in the Statement of Net Assets. | 74,918 | |
Some of the state's revenues will be collected after year-end but are not | ||
available soon enough to pay for the current period's expenditures | ||
and therefore are deferred in the funds. | 650,533 | |
Internal service funds are used by management to charge the costs of | ||
certain activities to individual funds. The assets and liabilities of the internal | ||
service funds are included in governmental activities in the Statement of | ||
Net Assets. | (10,659) | |
Long-term liabilities are not due and payable in the current period and therefore | ||
are not reported in the funds (Note 17). | ||
Net Pension Obligation | (2,020,664) | |
Net OPEB Obligation | (2,542,958) | |
Worker's Compensation | (459,778) | |
Capital Leases | (47,129) | |
Compensated Absences | (498,471) | |
Claims and Judgments | (43,690) | (5,612,690) |
Long-term bonded debt is not due and payable in the current period and | ||
therefore is not reported in the funds. Unamortized premiums, loss on | ||
refundings, and interest payable are not reported in the funds. However, | ||
these amounts are included in the Statement of Net Assets. This is the net | ||
effect of these balances on the statement (Note 17). | ||
Bonds Payable | (16,488,700) | |
Unamortized Premiums | (613,861) | |
Less: Deferred Loss on Refundings | 193,825 | |
Accrued Interest Payable | (143,345) | (17,052,081) |
Net Assets of Governmental Activities | $(9,569,189) |
The accompanying notes are an integral part of the financial statements.