Note 13 Changes in General Long-Term Debt
The following is a summary of changes in long-term debt for the year ended June 30, 2001 (amounts in thousands):
| Issuances | Retirements | Increase | |||
|---|---|---|---|---|---|
| Balance | and Other | and Other | (Decrease) | Balance | |
| General Long-Term Debt Account Group | July 1,2000 | Increases | Decreases | Accreted Value | June 30,2001 |
| General Obligation Bonds | $ 7,221,893 | $ 1,596,305 | $ 1,099,513 | $ 11,550 | $ 7,730,235 |
| Transportation Related Bonds | 3,069,525 | 225,000 | 195,140 | 736 | 3,100,121 |
| Expendable Trust Fund Obligations | 610,065 | 144,100 | 505,615 | - | 248,550 |
| Net Pension Obligation | 2,875,890 | 735,683 | 600,126 | - | 3,011,447 |
| Compensated Absences | 294,091 | 26,992 | 12,496 | - | 308,587 |
| Worker's Compensation | 283,600 | 105,270 | 62,453 | - | 326,417 |
| Capital Leases | 49,406 | 20,588 | 5,748 | - | 64,246 |
| Claims and Judgements | 15,079 | 7,139 | 9,108 | - | 13,110 |
| Total General Long-Term Debt Account Group | $ 14,419,549 | $ 2,861,077 | $ 2,490,199 | $ 12,286 | $ 14,802,713 |
The Combined Statement of Revenues, Expenditures and Changes in Fund Balances-All Governmental Fund Types reflects the net proceeds from the sale of bonds and notes in the amount of $1,908.8 million. This amount includes discounts on the sale of certain bonds and premium and accrued interest received at the time of sale in the amount of $41.1 million.
Included in retirements of general obligation and transportation related bonds are $505.1 million of bonds which were defeased by refunding bonds of $494.5 million.
Additionally, $1,596.3 million of issuances and other increases for general obligation bonds include $100 million of bonds issued by the University of Connecticut and $7.8 million of bonds issued by CHEFA for which the State of Connecticut will pay the principal and interest.
As of June 30, 2001 a liability of $10.6 million for rebatable arbitrage is included in the liability for claims and judgements.