| Net Assets by Component | |||||||
| Last Seven Fiscal Years | |||||||
| (Expressed in Thousands) | |||||||
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | |
|---|---|---|---|---|---|---|---|
| Governmental Activities: | |||||||
| Invested in Capital Assets, Net of Related Debt | $2,348,364 | $2,622,372 | $3,264,134 | $3,294,888 | $3,469,145 | $4,269,038 | $4,930,749 |
| Restricted | 1,231,415 | 1,233,992 | 1,686,089 | 1,324,933 | 1,496,693 | 1,384,938 | 1,641,377 |
| Unrestricted | (8,196,738) | (9,203,348) | (10,390,481) | (10,010,444) | (10,041,840) | (10,497,613) | (13,460,055) |
| Total Governmental Activities Net Assets | $(4,616,959) | $(5,346,984) | $(5,440,258) | $(5,390,623) | $(5,076,002) | $(4,843,637) | $(6,887,929) |
| Business-Type Activities: | |||||||
| Invested in Capital Assets, Net of Related Debt | $1,847,526 | $2,092,633 | $2,209,541 | $2,314,139 | $2,407,382 | $2,455,118 | $2,578,856 |
| Restricted | 1,846,132 | 1,650,045 | 1,409,915 | 1,568,559 | 1,704,585 | 1,871,568 | 1,757,846 |
| Unrestricted | 106,375 | 132,394 | 40,461 | 115,901 | 179,171 | 274,411 | 347,778 |
| Total Business-Type Activities Net Assets | $3,800,033 | $3,875,072 | $3,659,917 | $3,998,599 | $4,291,138 | $4,601,097 | $4,684,480 |
| Primary Government: | |||||||
| Invested in Capital Assets, Net of Related Debt | $4,195,890 | $4,715,005 | $5,473,675 | $5,609,027 | $5,876,527 | $6,724,156 | $7,509,605 |
| Restricted | 3,077,547 | 2,884,037 | 3,096,004 | 2,893,492 | 3,201,278 | 3,256,506 | 3,399,223 |
| Unrestricted | (8,090,363) | (9,070,954) | (10,350,020) | (9,894,543) | (9,862,669) | (10,223,202) | (13,112,277) |
| Total Primary Government Net Assets | $(816,926) | $(1,471,912) | $(1,780,341) | $(1,392,024) | $(784,864) | $(242,540) | $(2,203,449) |
Notes: The State did not begin reporting government-wide statements until it
implement GASB Statement 34 in fiscal year 2002.
The governmental activities have a deficit in unrestricted net asset mainly
because the State recognized in the Statement of
Net Assets the following long-term obligations:
1. General obligation bonds which were issued to finance various grant
programs of the State, such as school construction and municipal aid.
2. Other long-term obligations which the State has partially funded or not
funded. For example, net pension obligation, compensated absences obligation, etc.