State of Connecticut Comprehensive Annual Financial Report Fiscal Year Ended June 30, 1998 General Purpose Financial Statements - Combined Statement of Changes in Fund Balances - Higher Education Funds

State of Connecticut

Combined Statement of Changes in Fund Balances
Higher Education Funds
For The Fiscal Year Ended June 30, 1998
(Expressed in Thousands)
Endowment
Current Funds and Loan Plant Affiliated
Unrestricted Restricted Similar Funds Funds Funds Organization Total
Revenues and Other Additions:
Current Funds Revenue $ 557,388 $ 141,991 $ - $ - $ - $ - $ 699,379
Federal Grants and Contracts - - - 9 - - 9
State Grants and Contracts - - - - 11,967 - 11,967
Private Gifts and Grants - - 50 353 - - 403
Investment Earnings - - 887 177 8,786 - 9,850
Interest on Loans Receivable. - - - 529 - - 529
Expended for Plant Facilities. - - - - 283,427 - 283,427
Retirement of Indebtedness - - - - 8,923 - 8,923
Sale of Bonds - - - - 99,280 - 99,280
Foundation Revenues - - - - - 55,453 55,453
Miscellaneous - - 50 630 12,672 - 13,352
Total Revenues and Other Additions 557,388 141,991 987 1,698 425,055 55,453 1,182,572
Expenditures and Other Deductions:
Education and General 854,613 128,662 - - - - 983,275
Auxiliary Enterprises 94,275 114 - - - - 94,389
Patient Car. 86,060 177 - - - - 86,237
Indirect Costs Recovered - 15,134 - - - - 15,134
Loan Cancellations and Write-offs - - - 99 - - 99
Interest on Indebtedness - - - - 10,297 - 10,297
Capital Expenditures - - - - 254,893 - 254,893
Disposal of Plant Facilities - - - - 35,685 - 35,685
Administrative Costs - - - 201 - - 201
Retirement of Indebtedness - - - - 8,923 - 8,923
Foundation Expenditures - - - - - 8,651 8,651
Other - 192 9,116 351 4,761 - 14,420
Total Expenditures and Other Deductions 1,034,948 144,279 9,116 651 314,559 8,651 1,512,204
Transfers Among Funds - Additions (Deductions)
Mandatory:
Retirement of Indebtedness (4,510) - - - 4,510 - -
Nonmandatory:
Transfer From Foundation - 7,420 - - - (7,420) -
Transfer To Foundation (3,604) - - - - 3,604 -
Other. (1,236) (2,638) 21 (152) 4,005 - -
Total Transfers Among Funds (9,350) 4,782 21 (152) 8,515 (3,816) -
Operating Transfers from the State's
Governmental Funds 517,309 - - - 177,752 - 695,061
Change in Accounting for Compensated Absences (11,212) - - - - - (11,212)
Net Increase (Decrease) in Fund Balances 19,187 2,494 (8,108) 895 296,763 42,986 354,217
Fund Balances (deficit) - July 1 (as restated) 57,967 30,830 15,893 30,137 1,468,965 105,879 1,709,671
Fund Balances (deficit) - June 30 $ 77,154 $ 33,324 $ 7,785 $ 31,032 $ 1,765,728 $ 148,865 $ 2,063,888
The accompanying notes are an integral part of the financial statements.

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