Notes to the Financial Statements
June 30, 2009
Note 22 Restatement of Fund Balance/Net Assets and Restricted Assets
As of June 30, 2009, the beginning net assets/fund balances for the following
funds and activities were restated as follows (amounts in thousands):
| Balance | Correction | Balance | |
|---|---|---|---|
| 6-30-08 | of | 6-30-08 | |
| Previously | Reported | as | |
| Reported | Assets/Liabilites | Restated | |
| Governmental Funds and Activities | |||
| Major Funds: | |||
| Restricted Grants and Accounts | $ 666,022 | $ (49,644) | $ 616,378 |
| Total Governmental Funds | $ 3,120,784 | $ (49,644) | $ 3,071,140 |
| Governmental Activites: | |||
| Capital Assets | $ 10,045,466 | $ (17,332) | $ 10,028,134 |
| Net Assets of Governmental Activites | $ (6,887,929) | $ (66,976) | $ (6,954,905) |
| Proprietary Funds and Business-Type Activites | |||
| Major Funds: | |||
| State Universities | $ 754,043 | $ (21,652) | $ 732,391 |
| Total Proprietary Funds | $ 4,684,480 | $ (21,652) | $ 4,662,828 |
| Net Assets of Business-Type Activites | $ 4,684,480 | $ (21,652) | $ 4,662,828 |
The beginning fund balance of the Restricted fund, a governmental fund, was adjusted to correct an overstatement in the balance of accounts receivable reported last year.
The beginning net asset balance of governmental activities was adjusted to correct a net overstatement in the balance of capital assets reported last year.
The beginning net assets balance of the State Universities fund, a proprietary fund, was adjusted to reflect the cumulative effect of a change in the depreciation method for library books, a capital asset.
As of June 30, 2009, the government-wide statement of net assets reported $3,088 of restricted net assets, of which $300 million was restricted by enabling legislation.