State of Connecticut

Notes to the Financial Statements

June 30, 2009

Note 17 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, 2009, (amounts in thousands):

Balance Balance Amounts due
Governmental Activities June 30, 2008 Additions Reductions June 30, 2009 within one year
Bonds:
General Obligation $ 13,092,570 $ 1,409,655 $ 1,058,700 $ 13,443,525 $ 611,644
Transportation 2,790,682 812,725 786,392 2,817,015 144,101
15,883,252 2,222,380 1,845,092 16,260,540 755,745
Plus/(Less) premiums and
deferred amounts 348,228 99,763 27,955 420,036 74,564
Total Bonds 16,231,480 2,322,143 1,873,047 16,680,576 830,309
Bond Anticipation Notes: - 228,160 - 228,160 -
Other Liabilities:
Net Pension Obligation 1,916,537 1,357,372 1,253,245 2,020,664 -
Net OPEB Obligation 1,234,395 1,783,025 474,462 2,542,958 -
Compensated Absences 481,964 30,592 9,889 502,667 26,392
Workers' Compensation 412,619 143,104 95,945 459,778 88,067
Capital Leases 51,748 - 4,619 47,129 5,466
Claims and Judgments 13,635 40,091 10,036 43,690 3,928
Contracts Payable & Other 1,117 - 412 705 -
Total Other Liabilities 4,112,015 3,354,184 1,848,608 5,617,591 123,853
Governmental Activities Long-Term
Liabilities $ 20,343,495 $ 5,904,487 $ 3,721,655 $ 22,526,327 $ 954,162
In prior years, the General and Transportation funds have been used to liquidate other liabilities.
Business-Type Activities
Revenue Bonds $ 1,358,084 $ 390,807 $ 147,094 $ 1,601,797 $ 94,118
Plus/(Less) premiums, discounts and
deferred amounts 19,779 18,979 6,476 32,282 95
Total Revenue Bonds 1,377,863 409,786 153,570 1,634,079 94,213
Lottery Prizes 232,283 8,249 36,565 203,967 35,077
Compensated Absences 130,005 29,890 25,246 134,649 39,254
Other 162,969 35,636 12,337 186,268 14,053
Total Other Liabilities 525,257 73,775 74,148 524,884 88,384
Business-Type Long-Term Liabilities $ 1,903,120 $ 483,561 $ 227,718 $ 2,158,963 $ 182,597

b) As of June 30, 2009, long-term debt of component units consisted of the following (amounts in thousands):

Long-Term Balance Amounts due
Debt June 30, 2009 within year
Bonds Payable $ 4,162,391 $ 108,807
Escrow Deposits 172,992 45,451
Closure of Landfills 63,389 11,104
Due to State 9,793 -
Deferred Revenue 2,983 455
Other 19,055 418
Total $ 4,430,603 $ 166,235