State of Connecticut

ACCOUNTING BASIS OF THE REPORT

This report has been prepared on the accounting basis described on page 3.

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, 2014, and June 30, 2013, are as follows:

   Fiscal Year Ended June 30,
   (In Thousands)
     
   2014    2013
General Fund       
Taxes:       
Personal Income    $607,795    $549,151
Sales and Use    418,633    504,569
Corporation    21,613    22,153
Public Service Corporations    66,980    55,738
Cigarettes    22,568    20,689
Real Estate Conveyance    27,628    23,919
Petroleum Companies    102,637    89,144
Electric Generation    -    8,920
Alcoholic Beverages    6,495    8,401
Health Provider    105,939    121,470
Rents, Fines and Escheats    9,415    8,786
Indian Gaming Payments    21,788    24,116
     
Total General Fund    1,411,491    1,437,056
     
Transportation Fund       
Gasoline    31,111    31,077
Special Motor Fuel    10,681    10,597
Motor Carrier Road    1,687    1,395
     
Total Transportation Fund    43,479    43,069
     
Totals    $1,454,970    $1,480,125