comprehensive annual financial report for the fiscal year ending june 30 2004 vermont cover picture was provided by linda morse of middlesex vt state james h douglas governor prepared department finance and management 2 page introduction unaudited title 1 table contents 3 letter transmittal 4 5 organization chart 6 7 selected officials 8 section independent auditor s 10 11 discussion analysis 12 25 basic statements government wide statement net assets 31 activities 32 33 governmental funds balance sheet 36 37 reconciliation fund balances to 38 revenues expenditures changes in 40 41 42 proprietary 44 45 expenses 46 47 cash flows 48 49 fiduciary 52
