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, 2010, and June 30, 2009, are as follows:

      Fiscal Year Ended June 30,
      (In Thousands)
      2010 2009
General Fund  
  Taxes:  
    Personal Income $476,774   $464,910
  Sales and Use 322,518   302,272
  Petroleum Companies 70,620
 
63,050
  Public Service Corporations 65,147
 
60,800
  Corporation 20,701
 
17,801
  Nursing Home Provider 28,105 28,998
  Real Estate Conveyance 14,616 12,950
  Cigarettes 19,480 21,099
  Alcoholic Beverages 5,207 4,656
  Indian Gaming Payments 28,975 29,913
  Total General Fund 1,052,143 1,006,449
Transportation Fund    
  Gasoline 32,597 31,863
  Special Motor Fuel 9,840 8,851
  Motor Carrier Road 1,578 1,356
  Total Transportation Fund 44,015 42,070
Totals $1,096,158 $1,048,519