Amounts reported for governmental activities in the statement of net assets are different because: Capital assets used in governmental activities are not financial resources and Accrued
Trang 1Amounts reported for governmental activities in the statement of net assets are
different because:
Capital assets used in governmental activities are not financial resources and
Accrued vacation reported in the statement of net assets do not require
the use of current financial resources and therefore are not reported
Workers’ compensation liability reported in the statement of net assets does not
require the use of current financial resources and therefore is not reported
See accompanying notes to basic financial statements
June 30, 2003
STATE OF HAWAII
Reconciliation of the Governmental Fund Balances to the
Statement of Net Assets
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Trang 2Other Total Tobacco Governmental Governmental General Settlement Funds Funds
Revenues:
State general fund allotments, net $ 311,743,598 $ — $ 5,741,737 $ 317,485,335
Nonimposed employee fringe benefits (Note 1) 30,535,685 — — 30,535,685
Total revenues 342,279,283 44,393,423 108,201,842 494,874,548 Expenditures:
Total expenditures 365,214,127 32,207,043 101,486,666 498,907,836 Excess (deficiency) of revenues
over expenditures (22,934,844) 12,186,380 6,715,176 (4,033,288) Other financing sources (uses):
Total other financing uses — (18,722,949) (3,116,830) (21,839,779) Net change in fund balances (22,934,844) (6,536,569) 3,598,346 (25,873,067) Fund balances at July 1, 2002 58,352,503 33,813,621 38,034,525 130,200,649 Fund balances at June 30, 2003 $ 35,417,659 $ 27,277,052 $ 41,632,871 $ 104,327,582 See accompanying notes to basic financial statements.
Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds
Year Ended June 30, 2003
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Trang 3Net change in fund balances – total governmental funds $ (25,873,067) Amounts reported for governmental activities in the statement of activities
are different because:
Governmental funds report capital outlays as expenditures However, in the
statement of activities the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense This is the amount
by which depreciation exceeded capital outlays for the year (3,693,038) Accrued vacation reported in the statement of activities do not require the use
of current financial resources and therefore are not reported as expenditures
in the governmental funds until due and payable (651,566) Workers’ compensation liability reported in the statement of activities do not
require the use of current financial resources and therefore are not reported
as expenditures in the governmental funds until due and payable (634,373) Change in net assets of governmental activities $ (30,852,044) See accompanying notes to basic financial statements
to the Statement of Activities Year Ended June 30, 2003
STATE OF HAWAII
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds
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Trang 4Water Pollution Drinking Water Control Treatment
Current assets:
Cash and cash equivalents in state treasury $ 89,528,990 $ 10,673,735 $ 100,202,725
Current portion of loans receivable (Note 3) 10,659,371 573,652 11,233,023
Loans receivable, net of current portion (Note 3) 151,795,915 10,650,538 162,446,453
Liabilities:
Current liabilities:
Net assets:
See accompanying notes to basic financial statements
Assets (Restricted)
Liabilities and Net Assets
Statement of Net Assets – Proprietary Funds
June 30, 2003
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Trang 5Water Pollution Drinking Water Control Treatment Revolving Revolving
Operating revenues:
Interest income from loans $ 3,956,751 $ 158,727 $ 4,115,478 Administration loan fees 1,451,773 371,478 1,823,251
Total operating revenues 5,408,524 530,205 5,938,729 Operating expenses:
Total operating expenses 1,202,434 826,241 2,028,675 Operating income (loss) 4,206,090 (296,036) 3,910,054 Nonoperating revenues:
Interest income from investments 2,535,929 239,321 2,775,250 Federal contribution 4,428,893 3,105,208 7,534,101
Total nonoperating revenues 6,965,507 3,344,849 10,310,356 Income before transfers in 11,171,597 3,048,813 14,220,410 Transfers in (Note 8) 2,094,000 1,551,000 3,645,000
Change in fund net assets 13,265,597 4,599,813 17,865,410 Net assets at July 1, 2002 241,252,665 18,574,797 259,827,462 Net assets at June 30, 2003 $ 254,518,262 $ 23,174,610 $ 277,692,872 See accompanying notes to basic financial statements
STATE OF HAWAII
Statement of Revenues, Expenses, and Changes in Fund Net Assets –
Year Ended June 30, 2003 Proprietary Funds
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Trang 6Water Pollution Drinking Water Control Treatment Revolving Revolving
Cash flows from operating activities:
Interest income from loans $ 3,865,871 $ 143,010 $ 4,008,881 Administrative loan fees 1,387,937 309,791 1,697,728 Principal repayments on loans 9,687,830 473,601 10,161,431 Disbursement of loan proceeds (11,279,754) (2,202,868) (13,482,622) Payments to employees (837,081) (228,813) (1,065,894) Payments to vendors (345,779) (535,179) (880,958)
Net cash flows provided by (used in) operating activities 2,479,024 (2,040,458) 438,566 Cash flows from noncapital financing activities:
Federal contributions 4,028,817 3,182,157 7,210,974 State contributions 2,094,000 1,551,000 3,645,000 Payments to others — (255,013) (255,013)
Net cash flows provided by noncapital financing activities 6,122,817 4,478,144 10,600,961 Cash flows used in capital and related financing activities:
Purchase of equipment (26,002) (153,741) (179,743) Cash flows provided by investing activities:
Interest from investments 3,016,363 285,281 3,301,644
Net increase in cash and cash equivalents 11,592,202 2,569,226 14,161,428 Cash and cash equivalents at July 1, 2002 77,936,788 8,104,509 86,041,297 Cash and cash equivalents at June 30, 2003 $ 89,528,990 $ 10,673,735 $ 100,202,725 Reconciliation of operating income (loss) to net cash
provided by (used in) operating activities:
Operating income (loss) $ 4,206,090 $ (296,036) $ 3,910,054 Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation expense 11,294 62,140 73,434 Change in assets and liabilities:
Loans receivable (1,591,924) (1,729,267) (3,321,191) Accrued interest on loans receivable (90,880) (15,716) (106,596) Loan fees receivable (63,836) (61,688) (125,524) Accrued wages and other 8,280 109 8,389 Net cash provided by (used in)
operating activities $ 2,479,024 $ (2,040,458) $ 438,566
See accompanying notes to basic financial statements.
Statement of Cash Flows – Proprietary Funds
Year Ended June 30, 2003
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Trang 7Agency Fund
Cash and cash equivalents – on deposit with banks and on hand (Note 1) $ 311,900
See accompanying notes to basic financial statements
Liabilities
June 30, 2003
STATE OF HAWAII
Statement of Fiduciary Net Assets – Fiduciary Funds
Assets
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Trang 8Actual Amounts (Budgetary Basis)
Revenues:
Expenditures:
Behavioral health services administration 185,308,130 157,162,375 146,092,801
Excess of revenues over
See accompanying independent auditors’ report and note to the budgetary comparison schedules
Year Ended June 30, 2003
Budgeted Amounts
Budgetary Comparison Schedule – General Fund Required Supplementary Information (Unaudited)
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Trang 9Actual Amounts (Budgetary Basis)
Revenues:
Expenditures:
Excess of revenues over
See accompanying independent auditors’ report and note to the budgetary comparison schedules
Year Ended June 30, 2003
Budgeted Amounts
STATE OF HAWAII
Budgetary Comparison Schedule – Tobacco Settlement Fund Required Supplementary Information (Unaudited)
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Trang 10(1) Budget to GAAP Reconciliation
Tobacco General Settlement
Excess of revenues over expenditures – actual
Expenditures for liquidation of prior year’s encumbrances (64,765,923) (11,768,087)
Excess (deficiency) of revenues over
The following reconciles the excess of revenues over expenditures presented on a budgetary basis to the excess (deficiency) of revenues over expenditures presented in conformity with GAAP for the general
and tobacco settlement funds
Year Ended June 30, 2003 Note to the Budgetary Comparison Schedules
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