Notes to the Financial Statements
June 30, 2011
Note 23 Restatement of Fund Balances/Net Assets, Fund Balance Classifications, and Restricted Assets
Restatement of Fund Balance/Net Assets
As of June 30, 2011, the beginning fund balances/net assets for the following activities were restated as follows (amounts in thousands):
|Governmental Funds and Activities|
|Total Governmental Funds||$1,420,939||$33,217||$1,454,156|
|Net Assets of Governmental Activities||$(13,673,045)||$33,217||$(13,639,828)|
The beginning fund balance of the General Fund was adjusted to correct an understatement in the balance of taxes receivable reported last year.
Fund Balance - Restricted and Assigned
As of June 30, 2011 restricted and assigned fund balances of nonmajor governmental funds were comprised as follows:
|Grant and Loan Programs||$487,514||$6,989|
|Employment Security Administration||34,295||-|
As of June 30, 2011, the government-wide statement of net assets reported $2,969 of restricted net assets, of which $135 million was restricted by enabling legislation.