Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2008 BASIC FINANCIAL STATEMENTS - Statement of Revenues, Expenses and Changes in Fund Net Assets Proprietary Funds

State of Connecticut

Statement of Revenues, Expenses and
Changes in Fund Net Assets
Proprietary Funds
For the Fiscal Year Ended June 30, 2008
(Expressed in Thousands)
Business-Type Activities
Enterprise Funds
University of
Connecticut 		State
Universities		 Bradley
Inter national
Airport		 Connecticut
Lottery
Corpor ation
Operating Revenues        
Charges for Sales and Services $758,582 $284,513 $44,698 $998,148
Assessments - - - -
Federal Grants, Contracts and Other Aid 146,543 31,352 - -
State Grants, Contracts and Other Aid 25,430 15,267    
Private Gifts and Grants 36,293 2,705 - -
Interest on Loans - - - -
Other 59,371 16,221 - 207
Total Operating Revenues 1,026,219 350,058 44,698 998,355
Operating Expenses        
Salaries, Wages and Administrative 1,405,157 543,887 39,692 97,938
Lottery Prize Awards - - - 608,218
Unemployment Compensation - - - -
Claims Paid - - - -
Depreciation and Amortization 127,886 42,654 17,686 832
Other 77,592 24,310 - 7,812
Total Operating Expenses 1,610,635 610,851 57,378 714,800
Operating Income (Loss) (584,416) (260,793) (12,680) 283,555
Nonoperating Revenue (Expenses)        
Interest and Investment Income 16,987 11,658 6,775 18,573
Interest and Fiscal Charges (15,897) - (10,257) (17,051)
Other 6,566 3,629 13,103 6
Total Nonoperating Revenues (Expenses) 7,656 15,287 9,621 1,528
Income (Loss) Before Capital Contributions, Grants,        
and Transfers (576,760) (245,506) (3,059) 285,083
Capital Contributions 6,803 25,364 3,755 -
Federal Capitalization Grants - - - -
Transfers In 527,874 266,132 9,448 -
Transfers Out - - - (283,000)
Change in Net Assets (42,083) 45,990 10,144 2,083
Total Net Assets (Deficit) - Beginning 1,702,945 708,053 246,459 4,105
Total Net Assets (Deficit) - Ending $1,660,862 $754,043 $256,603 $6,188

 

Business-Type Activities
Enterprise Funds		 Governmental
Activities
Employment
Security		 Clean 
Water		 Other
Funds		 Totals Internal
Service
Funds
Operating Revenues          
Charges for Sales and Services $- $- $143,218 $2,229,159 $90,720
Assessments 563,851 - 44,247 608,098 -
Federal Grants, Contracts and Other Aid 14,874 - 37,851 230,620 -
State Grants, Contracts and Other Aid 6,783   16,290 63,770 -
Private Gifts and Grants - - 2,199 41,197 -
Interest on Loans - 14,835 1,696 16,531 -
Other 2,890 - 3,789 82,478 170
Total Operating Revenues 588,398 14,835 249,290 3,271,853 90,890
Operating Expenses          
Salaries, Wages and Administrative - 564 391,016 2,478,254 68,858
Lottery Prize Awards - - - 608,218 -
Unemployment Compensation 631,935 - - 631,935 -
Claims Paid - - 37,540 37,540 -
Depreciation and Amortization - - 16,592 205,650 20,061
Other - - 19,372 129,086 -
Total Operating Expenses 631,935 564 464,520 4,090,683 88,919
Operating Income (Loss) (43,537) 14,271 (215,230) (818,830) 1,971
Nonoperating Revenue (Expenses)          
Interest and Investment Income 28,938 23,422 11,007 117,360 220
Interest and Fiscal Charges - (26,617) (11,520) (81,342) (45)
Other - 1,563 2,951 27,818 (784)
Total Nonoperating Revenues (Expenses) 28,938 (1,632) 2,438 63,836 (609)
Income (Loss) Before Capital Contributions, Grants,          
and Transfers (14,599) 12,639 (212,792) (754,994) 1,362
Capital Contributions - - - 35,922 -
Federal Capitalization Grants - 10,737 12,462 23,199 -
Transfers In - 2,584 284,337 1,090,375 -
Transfers Out (18,671) - (9,448) (311,119) -
Change in Net Assets (33,270) 25,960 74,559 83,383 1,362
Total Net Assets (Deficit) - Beginning 773,906 591,237 574,392 4,601,097 (14,502)
Total Net Assets (Deficit) - Ending $740,636 $617,197 $648,951 $4,684,480 $(13,140)

The accompanying notes are an integral part of the financial statements.

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