Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balances of Governmental Funds to the Statement of Activities
June 30, 2015
(Expressed in Thousands)
Net Change in Fund Balances - Total Governmental Funds $14,508
Amounts reported for governmental activities in the Statement of Activities
are different because:
Bond proceeds provide current financial resources to governmental funds. However,
issuing debt increases long term-liabilities in the Statement of Net Position. Bond
proceeds were received this year from:
Bonds Issued (2,820,167)
Refunding Bonds Issued (709,210)
Premium on Bonds Issued (386,856) (3,916,233)
Repayment of long-term debt is an expenditure in the governmental funds, but the
repayment reduces long-term liabilities in the Statement of Net Position. Long-term debt
repayments this year consisted of:
Principal Retirement 1,421,518
Payments to Refunded Bond Escrow Agent 780,530
Capital Lease Payments 5,489 2,207,537
Some capital assets acquired this year were financed with capital leases. The amount
financed by leases is reported in the governmental funds as a source of financing, but
lease obligations are reported as long-term liabilities on the Statement of Activities (3,036)
Capital outlays are reported as expenditures in the governmental funds. However, in the
Statement of Activities the cost of those assets is allocated over their estimated useful
lives and reported as depreciation expense. In the current period, these amounts and
other reductions were as follows:
Capital Outlays 1,388,215
Depreciation Expense (902,620)
Retirements (522) 485,073
Inventories are reported as expenditures in the governmental funds when purchased.
However, in the Statement of Activities the cost of these assets is recognized when those
assets are consumed. This is the amount by which consumption exceeded purchases of
inventories. (2,218)
Some expenses reported in the Statement of Activities do not require the use of current
financial resources and therefore are not reported as expenditures in governmental
funds. These activities consist of:
Increase in Accrued Interest (12,064)
Increase in Interest Accreted on Capital Appreciation Debt (15,876)
Amortization of Bond Premium 154,104
Amortization of Loss on Debt Refundings (18,750)
Decrease in Compensated Absences Liability 14,172
Increase in Workers Compensation Liability (31,606)
Increase in Claims and Judgments Liability (29,436)
Decrease in Landfill Liability 566
' Decrease in Net Pension Obligation 2,559,621
Pension Cost, Net 1,920,711
Increase in Net OPEB Obligation (1,219,865) 3,321,577
Because some revenues will not be collected for several months after the state's fiscal
year ends, they are not considered "available" revenues and are deferred in the
governmental funds. Unearned revenues decreased by this amount this year. (12,444)
Internal service funds are used by management to charge the costs of certain activities,
such as insurance and telecommunications, to individual funds. The net revenue
(expense) of internal service funds is reported with the governmental activities. 2,383
Change in Net Position of Governmental Activities $2,097,147

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