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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, 1998, and June 30, 1997, are as follows:

Fiscal Year Ended June 30,
(In Thousands)
1998 1997
General Fund
Taxes:
Sales and Use $319,128 $311,228
Personal Income 197,396 178,929
Hospital Gross Receipts 33,584 40,098
Public Service Corporations 33,052 34,336
Corporation 29,134 34,501
Petroleum Companies 17,993 21,341
Cigarettes 7,972 8,766
Alcoholic Beverages 3,586 3,655
Indian Gaming Payments 22,828 19,949
Total General Fund 664,673 652,803
Transportation Fund
Gasoline 40,486 43,308
Special Motor Fuel 3,941 3,280
Motor Carrier Road 432 427
Total Transportation Fund 44,859 47,015
Totals $709,532 $699,818

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