Reconciliation of Governmental Funds Balance Sheet
to the Statement of Net Assets
June 30, 2012  
(Expressed in Thousands)  
Total Fund Balance - Governmental Funds $1,690,889
Net assets reported for governmental activities
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 3,303,418
Equipment 1,983,310
Infrastructure 13,023,800
Other Capital Assets 4,704,036
Accumulated Depreciation (12,079,317) 10,935,247
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. 84,179
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. 536,878
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. 40,010
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 (2,496,190)
Net OPEB Obligation (5,755,731)
Worker's Compensation (559,546)
Capital Leases (42,759)
Compensated Absences (540,069)
Claims and Judgments (44,942) (9,439,237)
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 and Notes Payable (17,999,851)
Unamortized Premiums (905,503)
Less: Deferred Loss on Refundings (196,629)
Accrued Interest Payable (170,105) (18,878,830)
Net Assets of Governmental Activities $(15,030,864)

 

The accompanying notes are an integral part of the financial statements.