The state’s General Fund balance decreased by 2.2 percent in the fiscal year ended June 30, 2007, according to the Fiscal 2007 Comprehensive Annual Financial Report issued today by the Iowa Department of Administrative Services.

The total fund balance of the General Fund, the state’s principal operating fund, was $2.05 billion as of June 30, a decrease of $46.4 million, or 2.21 percent, from the previous fiscal year. The General Fund Unreserved Fund Balance, traditionally considered an important benchmark, increased $154.8 million from the prior year to $1.05 billion, which included $535.2 million in “rainy day” funds. The state’s total net assets increased by $663.6 million, or 5.8 percent, to $11.94 billion.

The financial statements were prepared in accordance with generally accepted accounting principles as established by the Governmental Accounting Standards Board, and can be viewed online at http://das.sae.iowa.gov/financial_reports/index.html.