Notes to the Financial Statements
June 30, 2013
Note 23 Restatement of Fund Balances/Net Assets, Fund Balance Classifications, and Restricted Net Position
Restatement of Net Position
As of June 30, 2013, the beginning net position for the following funds and activities were restated as follows (amounts in thousands):
| Balances | Balances | ||
|---|---|---|---|
| 6-30-12 | 6-30-12 | ||
| Previously | Fund | as | |
| Reported | Reclassifications | Restated | |
| Proprietary Funds and Business-Type Activities | |||
| Major Funds: | |||
| Connecticut Lottery Corporation | $7,561 | $(7,561) | $- |
| Connecticut Community Colleges | - | 781,702 | 781,702 |
| Non-Major Funds: | |||
| Connecticut Community Colleges | 781,702 | (781,702) | - |
| Total Non-Major Funds | 912,201 | (781,702) | 130,499 |
| Total Proprietary Funds | $4,475,052 | (7,561) | $4,467,491 |
| Business-Type Activities | |||
| Net Position of Business-Type Activates | $4,475,052 | (7,561) | $4,467,491 |
| Component Units | |||
| Major Component Units: | |||
| Connecticut Lottery Corporation | $- | $7,561 | $7,561 |
| CT Health and Educational Facilities Authority | 13,286 | (13,286) | - |
| Non-Major Component Units: | |||
| CT Health and Educational Facilities Authority | - | 13,286 | 13,286 |
| Connecticut Development Authority | 84,776 | (84,776) | - |
| Connecticut Innovations, Incorporated | 85,705 | 84,776 | 170,481 |
| Total Non-Major Component Units | 973,095 | 13,286 | 986,381 |
| Total Component Units | $1,944,102 | 7,561 | $1,951,663 |
In 2013, the Connecticut Lottery Corporation was reclassified from a proprietary fund (blended presentation) to a discreetly presented component unit because, as required by current reporting guidance, the Corporation’s operations do not exclusively, or almost exclusively benefit the State. The state's citizenry is benefited as well.
During the year, according to state legislation the assets and operations of the Connecticut Development Authority were merged into the Connecticut Innovations, Incorporated.
Fund Balance - Restricted and Assigned
As of June 30, 2013 restricted and assigned fund balances of nonmajor governmental funds were comprised as follows (amounts in thousands):
| Restricted | Assigned | |
|---|---|---|
| Purposes | Purposes | |
| Capital Projects | $288,363 | $- |
| Environmental Programs | 61,811 | - |
| Housing Programs | 90,764 | - |
| Employment Security Administration | 30,746 | - |
| Banking | 26,713 | - |
| Other | 50,308 | 20,316 |
| Total | $548,705 | $20,316 |