State of Connecticut Annual Report of the State Comptroller Budgetary Basis - Accounting Basis of the Report

stofct2.gif (2235 bytes)

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 and for Federal and other restricted grant revenues which are recognized when earned. The amount of accrued taxes and Indian gaming payments recorded at June 30, 1997, and June 30, 1996, are as follows:

Fiscal Year Ended June 30,
(In Thousands)

19971996
General Fund
Taxes:
Sales and Use$311,228$369,034
Personal Income178,929 172,455
Hospital Gross Receipts 40,098 52,401
Public Service Corporations34,33636,700
Corporation34,50137,896
Petroleum Companies21,34121,546
Cigarettes8,7667,429
Alcoholic Beverages3,655 5,000
Indian Gaming Payments19,94912,385
Total General Fund 652,803 714,846
Transportation Fund
Gasoline43,308 40,637
Special Motor Fuel 3,2803,154
Motor Carrier Road 427 833
Total Transportation Fund47,015
44,624
Totals $699,818$759,470

Back to Comptroller's Home Page
Back to Table of Contents