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 which are recognized when earned. The amount of accrued taxes and Indian gaming payments recorded at June 30, 2012, and June 30, 2011, are as follows:

Fiscal Year Ended June 30,
(In Thousands)
2012
2011
General Fund    
Taxes:    
Personal Income $524,104 $470,085
Sales and Use 456,004 333,093
Corporation 14,018 27,049
Public Service Corporations 58,195 64,302
Cigarettes 21,320 19,861
Real Estate Conveyance 19,203 16,013
    Petroleum Companies 88,197 101,758
Electric Generation 16,763 -
Alcoholic Beverages 7,624
 
5,624
Health Provider 123,699
 
28,182
Rent, Fines, and Escheats 7,827
 
11,282
Indian Gaming Payments 27,839
28,821
Total General Fund 1,364,793 1,106,070
Transportation Fund    
Gasoline 31,646 31,421
Special Motor Fuel 9,932 9,685
Motor Carrier Road 1,753
1,712
Total Transportation Fund 43,331
42,818
Totals $1,408,124   $1,148,888