Comprehensive Annual Financial Report for the Fiscal Year Ended ... Jun 30 1999

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Federal Contingencies: Federal Financial Assistance - The State receives federal financial assistance for specified purposes which are subject to review and audit in accordance with the Single Audit Act of 1996. Any disallowances resulting from these audits would become the liability of the State. There are no disallowances reported as of June 30, 1 999.
USDA Commodities - In fiscal year 1999, the State distributed $7,338,857 in commodities. The value at June 30, 1999, of commodities stored in
...the State's warehouses is $1 ,699,563 for which the State is liable in the event of loss.
C. Miscellaneous Contingencies : Commitment Fees - The Board of Investments (BOI) and the Montana Health Facility Authority (MHFA) have entered into a capital reserve account agreement for certain bond issues. In accordance with the agreement, the BOI irrevocably committed to lend the MHFA funds sufficient to ensure timely payments of principal and interest on the bonds. If necessary, the loans will be made by the BOI from the Coal Severance Tax Permanent Trust Fund.


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