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, Transportation, and Grant 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, 2016, and June 30, 2015, are as follows: 

  Fiscal Year Ended June 30,   
   (In Thousands)   
     
   2016    2015
General Fund       
  Taxes:       
    Personal Income    $602,177    $629,975
    Sales and Use    362,304    396,090
    Corporation    55,864    31,366
    Public Service Corporations    90,940    52,694
    Alcoholic Beverages    6,768    7,473
    Cigarettes    20,984    21,041
    Real Estate Conveyance    27,045    26,772
    Petroleum Companies    -    85,503
    Health Provider    170,990    111,238
    Rents, Fines and Escheats    11,024    9,306
  Indian Gaming Payments    20,348    21,852
         
    Total General Fund    1,368,444    1,393,310
         
Transportation Fund       
    Sales and Use    32,503    -
    Petroleum Companies    64,278    -
    Gasoline    32,507    31,524
    Special Motor Fuel    11,547    12,097
    Motor Carrier Road    1,120    1,680
       
    Total Transportation Fund    141,955    45,301
       
Grant Fund       
    Sales and Use    34,027    -
       
    Total Grant Fund    34,027    -
         
Totals    $1,544,426    $1,438,611