Notes to the Financial Statements
June 30, 2008
Note 22 Restatement of Fund Balance/Net Assets and Restricted Assets
As of June 30, 2008, the beginning fund balance/net assets for the following funds and other funds were restated as follows (amounts in thousands):
Balance | Correction | Balance | ||
---|---|---|---|---|
6-30-07 | of | 6-30-07 | ||
Previously | Fund | Reported | as | |
Reported | Reclassification | Assets/Liabilities | Restated | |
Governmental Funds | ||||
Restricted Grants and Accounts | $ - | $ 353,645 | $ - | $ 353,645 |
Other Funds | $ 1,006,459 | $ (353,645) | $ - | $ 652,814 |
Fiduciary Funds | ||||
RTHP | $ 49,047 | $ - | $ (5,211) | $ 43,836 |
Net Assts of Pension & Other Employees | ||||
Benefit Trust Funds | $ 25,910,906 | $ - | $ (5,211) | $ 25,905,695 |
As of June 30, 2008, the Restricted Grants and Accounts' Fund, a Special Revenue fund, was reported as a major fund in the governmental fund financial statements. In prior years, this fund was reported as a nonmajor fund.
During the year, the beginning net asset balance of the Retired Teacher Healthcare Plan, a fiduciary fund, was adjusted to correct a net misstatement in the assets and liability of the fund as of 6-30-07.
As of June 30, 2008, the government-wide statement of net assets reported $3,380 million of restricted net assets, of which $251 million was restricted by enabling legislation.