State of Connecticut Comprehensive Annual Financial Report Fiscal Year Ended June 30, 1999 - Notes to the Financial Statements - Note 2

State of Connecticut

June 30,1999

Note 2 BUDGETARY BASIS VS. GAAP

The following is a reconciliation of the excess (deficiency) of revenues and other sources over expenditures and other uses as accounted between the budgetary and GAAP basis of accounting (amounts in thousands):


Financial Statements Fund Types

General
Special
Revenue
Excess (deficiency) of revenues and
other sources over expenditures and
other uses (Budgetary basis) $ 71,759 $ 14,748
Adjustments:
Increases (decreases) in revenue accruals:
Government Receivables 56,378 5,189
Other Receivables (21,430) 864
(Increases) decreases in expenditure accruals:
Accounts Payable and Other Liabilities (49,703) (9,783)
Salaries and Fringe Benefits Payable (33,688) (2,263)
Increases (decreases) in continuing
appropriations 294,077 7,288
Reclass of equity adjustments:
To other financing uses (80,883)
To operating expenses (61,172) (9,765)
To equity transfers in (400) -
Excess (deficiency) of revenues and other
sources over expenditures and other uses
(GAAP basis) - budgeted funds 174,938 6,278
To record excess (deficiency) of revenues
and other sources over expenditures and
other uses for nonbudgeted funds - 343
Excess (deficiency) of revenues and other
sources over expenditures and other uses
(GAAP basis) $ 174,938 $ 6,621

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