Reconciliation of Governmental Funds Balance Sheet | ||
to the Statement of Net Assets | ||
June 30, 2010 | ||
(Expressed in Thousands) | ||
Total Fund Balance - Governmental Funds | $1,420,939 | |
Net assets reported for governmental activities in the Statement of Net Assets | ||
are different because: | ||
Capital assets used in governmental activities are not financial resources | ||
and therefore are not reported in the funds. These assets consist of: | ||
Buildings | 3,173,636 | |
Equipment | 1,535,777 | |
Infrastructure | 12,555,781 | |
Other Capital Assets | 3,752,851 | |
Accumulated Depreciation | (10,484,842) | 10,533,203 |
Debt issue costs are recorded as expenditures in the funds. However, | ||
these costs are deferred (reported as other assets) and amortized over the | ||
life of the bonds in the Statement of Net Assets. | 82,097 | |
Some of the state's revenues will be collected after year-end but are not | ||
available soon enough to pay for the current period's expenditures | ||
and therefore are deferred in the funds. | 551,947 | |
Internal service funds are used by management to charge the costs of | ||
certain activities to individual funds. The assets and liabilities of the internal | ||
service funds are included in governmental activities in the Statement of | ||
Net Assets. | (24,691) | |
Long-term liabilities are not due and payable in the current period and therefore | ||
are not reported in the funds (Note 17). | ||
Net Pension Obligation | (2,262,220) | |
Net OPEB Obligation | (4,440,703) | |
Worker's Compensation | (460,596) | |
Capital Leases | (41,702) | |
Compensated Absences | (520,284) | |
Claims and Judgments | (60,289) | (7,785,794) |
Long-term bonded debt is not due and payable in the current period and | ||
therefore is not reported in the funds. Unamortized premiums, loss on | ||
refundings, and interest payable are not reported in the funds. However, | ||
these amounts are included in the Statement of Net Assets. This is the net | ||
effect of these balances on the statement (Note 17). | ||
Bonds Payable | (17,767,148) | |
Unamortized Premiums | (720,536) | |
Less: Deferred Loss on Refundings | 193,958 | |
Accrued Interest Payable | (157,020) | (18,450,746) |
Net Assets of Governmental Activities | $(13,673,045) |
The accompanying notes are an integral part of the financial statements.