June 30,1999
Note 13 Changes in General Long-Term Debt
The following is a summary of changes in long-term debt for the year ended June 30, 1999 (amounts in thousands):
| Balance July 1,1998 |
Issuances and Other Increases |
Retirements and Other Decreases |
Increase (Decrease) Accreted Value |
Balance June 30,1999 |
|
|---|---|---|---|---|---|
| General Obligation Notes | $ 78,055 | $ - | $ 78,055 | $ - | $ - |
| General Obligation Bonds | 6,585,094 | 1,038,497 | 753,288 | 31,894 | 6,902,197 |
| Transportation Related Bonds | 3,134,142 | 230,555 | 174,815 | 1,744 | 3,191,626 |
| Expendable Trust Fund Obligations | 875,815 | 70,000 | 149,880 | - | 795,935 |
| Net Pension Obligation | 2,610,736 | 652,534 | 514,961 | - | 2,748,309 |
| Compensated Absences | 263,751 | 20,885 | 9,864 | - | 274,772 |
| Worker's Compensation | 278,927 | 51,358 | 50,211 | - | 280,074 |
| Capital Leases | 48,218 | 8,609 | 4,777 | - | 52,050 |
| Claims and Judgments | 9,529 | 5,250 | 9,529 | - | 5,250 |
| Total General Long-Term Debt Account Group | $ 13,884,267 | $ 2,077,688 | $ 1,745,380 | $ 33,638 | $ 14,250,213 |
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 $1,188.8 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 $5.3 million.
Additionally, $1,038.5 million of issuances and other in-creases for general obligation bonds includes $79.7 million of bonds issued by the University of Connecticut and $75.6 million of bonds issued by CHEFA for which the State of Connecticut will pay the principal and interest.
As of June 30, 1999 a liability of $5.3 million for rebatable arbitrage is included in the liability for claims and judgments.
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