State of Connecticut Comprehensive Annual Financial Report Fiscal Year Ended June 30, 1998 - Notes to the Financial Statements

The following is a summary of changes in long-term debt for the year ended June 30, 1998(amounts in thousands):

	Balance July 1, 1997	Issuances and Other Increases	Retirements and Other Decreases	Increase (Decrease) Accreted Value	Balance June 30, 1998

General Obligation Notes	$ 157,055	$ -	$ 79,000	$ -	$ 78,055
General Obligation Bonds	6,338,847	951,667	752,704	47,284	6,585,094
Transportation Related Bonds	3,209,771	423,513	500,769	1,627	3,134,142
Expendable Trust Fund Obligations	954,505	80,000	158,690	-	875,815
Unfunded Pension Costs	2,303,271	879,480	572,015	-	2,610,736
Compensated Absences	260,338	45,896	42,483	-	263,751
Worker's Compensation	282,775	40,330	44,178	-	278,927
Capital Leases	49,214	3,573	4,569	-	48,218
Claims and Judgements	13,598	4,931	9,000	-	9,529
Total General Long-Term Debt Account Group	$ 13,569,374	$ 2,429,390	$ 2,163,408	$ 48,911	$ 13,884,267

The Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types reflects the net proceeds from the sale of bonds and notes in the amount of $1,380.2 million. This amount includes discounts on the sale of certain bonds and premium and accrued interest received at the time of sale in the amount of $24.5 million and non-cash proceeds of $24.2 million of private placement bonds.

Additionally, $951.7 million of issuances and other increases for general obligation bonds includes $99.5 million of bonds issued by the University of Connecticut for which the State of Connecticut will pay the principal and interest.