Notes to the Financial Statements
June 30, 2009
Note 17 Long-Term Debt
a) The following is a summary of changes in long-term debt of the primary government for the year ended June 30, 2009, (amounts in thousands):
Balance | Balance | Amounts due | |||
---|---|---|---|---|---|
Governmental Activities | June 30, 2008 | Additions | Reductions | June 30, 2009 | within one year |
Bonds: | |||||
General Obligation | $ 13,092,570 | $ 1,409,655 | $ 1,058,700 | $ 13,443,525 | $ 611,644 |
Transportation | 2,790,682 | 812,725 | 786,392 | 2,817,015 | 144,101 |
15,883,252 | 2,222,380 | 1,845,092 | 16,260,540 | 755,745 | |
Plus/(Less) premiums and | |||||
deferred amounts | 348,228 | 99,763 | 27,955 | 420,036 | 74,564 |
Total Bonds | 16,231,480 | 2,322,143 | 1,873,047 | 16,680,576 | 830,309 |
Bond Anticipation Notes: | - | 228,160 | - | 228,160 | - |
Other Liabilities: | |||||
Net Pension Obligation | 1,916,537 | 1,357,372 | 1,253,245 | 2,020,664 | - |
Net OPEB Obligation | 1,234,395 | 1,783,025 | 474,462 | 2,542,958 | - |
Compensated Absences | 481,964 | 30,592 | 9,889 | 502,667 | 26,392 |
Workers' Compensation | 412,619 | 143,104 | 95,945 | 459,778 | 88,067 |
Capital Leases | 51,748 | - | 4,619 | 47,129 | 5,466 |
Claims and Judgments | 13,635 | 40,091 | 10,036 | 43,690 | 3,928 |
Contracts Payable & Other | 1,117 | - | 412 | 705 | - |
Total Other Liabilities | 4,112,015 | 3,354,184 | 1,848,608 | 5,617,591 | 123,853 |
Governmental Activities Long-Term | |||||
Liabilities | $ 20,343,495 | $ 5,904,487 | $ 3,721,655 | $ 22,526,327 | $ 954,162 |
In prior years, the General and Transportation funds have been used to liquidate other liabilities. | |||||
Business-Type Activities | |||||
Revenue Bonds | $ 1,358,084 | $ 390,807 | $ 147,094 | $ 1,601,797 | $ 94,118 |
Plus/(Less) premiums, discounts and | |||||
deferred amounts | 19,779 | 18,979 | 6,476 | 32,282 | 95 |
Total Revenue Bonds | 1,377,863 | 409,786 | 153,570 | 1,634,079 | 94,213 |
Lottery Prizes | 232,283 | 8,249 | 36,565 | 203,967 | 35,077 |
Compensated Absences | 130,005 | 29,890 | 25,246 | 134,649 | 39,254 |
Other | 162,969 | 35,636 | 12,337 | 186,268 | 14,053 |
Total Other Liabilities | 525,257 | 73,775 | 74,148 | 524,884 | 88,384 |
Business-Type Long-Term Liabilities | $ 1,903,120 | $ 483,561 | $ 227,718 | $ 2,158,963 | $ 182,597 |
b) As of June 30, 2009, long-term debt of component units consisted of the following (amounts in thousands):
Long-Term | Balance | Amounts due |
---|---|---|
Debt | June 30, 2009 | within year |
Bonds Payable | $ 4,162,391 | $ 108,807 |
Escrow Deposits | 172,992 | 45,451 |
Closure of Landfills | 63,389 | 11,104 |
Due to State | 9,793 | - |
Deferred Revenue | 2,983 | 455 |
Other | 19,055 | 418 |
Total | $ 4,430,603 | $ 166,235 |