Statewide accounts receivable report, for the year ended ...

              NORTH CAROLINA
STATEWIDE
ACCOUNTS
RECEIVABLE
REPORT
For the Year
Ended
June 30, 1999
North Carolina Office of the State Controller
Edward Renfrow, State Controller
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Report
December 1999
Page 1
The Office of the State Controller is responsible for the Statewide Accounts Receivable Program. The
authority originates from North Carolina General Statute 147- 86.20-. 27. In fulfilling the reporting
requirements, the Office of the State Controller provides you with the Statewide Accounts Receivable
Report for fiscal year end June 30, 1999, displayed in a three- year analysis of receivables format.
The Statewide Accounts Receivable Report includes all receivables reflected in the State’s
Comprehensive Annual Financial Report ( CAFR). These receivables are recorded in the financial
statements based on generally accepted accounting principles ( GAAP) for governments. Included in
this report are notes receivable, taxes receivable, intergovernmental receivables ( due from federal, local
or other state governments), accounts receivable, interfund receivables ( due from other entities within
the State’s financial reporting entity), contributions receivable, premiums receivable, interest receivable
and other miscellaneous receivables.
Total receivables increased $ 271 million, or 6.09%, to $ 4.71 billion, which equates to 13.3% of total
revenues as compared to 12.05% in 1998. Total revenues decreased 3.84% to $ 35.4 billion. In
summary, for every $ 7.52 of revenues the State earns we carry $ 1.00 in receivables.
To explain the $ 271 million increase in total receivables for 1999 we need to look at several areas. The
first involves notes receivable where there was a total increase of $ 212 million, most of which occurred
in the component unit proprietary funds. The most significant portion lies in the State Education
Assistance Authority, $ 141 million, the majority of which pertains to the non- current or long term
portion of the notes, and the North Carolina Housing Finance Agency, $ 45 million. There were also
increases of $ 12 million in the notes of the component unit University Funds, as well as $ 8 million in the
401( k) Supplemental Retirement Income Plan notes, which fall under the pension trust funds.
The second area in which major changes occurred is accounts receivable. The majority of the $ 52
million increase occurred in the component unit University Funds, which increased $ 30 million. In
addition, there was an increase in accounts receivable of $ 14 million in the special revenue funds and $ 9
million in the component unit proprietary funds.
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Report
December 1999
Page 2
The following chart summarizes the State of North Carolina’s receivable components:
State of North Carolina Total Receivables for the Fiscal Year Ended June 30, 1999
$ 4.71 billion
Notes $ 2,047.3 million
43%
Taxes $ 927.0 million
20%
Inter-governmental
$ 715.7
million
15%
Accounts $ 423.8 million
9%
Interfund $ 358.7 million
8%
Contributions,
Premiums,
Other $ 158.4 million
3%
Interest $ 80.0 million
2%
Again this year, a greater effort was undertaken to make improvements in agency reporting of write- off
information. Definite progress has been made in this area and we will continue to educate and inform
the State’s entities on the importance of reporting accurate and complete write- off information. The
major area for State write- offs relates to healthcare business. This involves basically four
agencies/ institutions. These are UNC Hospitals, UNC Physicians & Associates of UNC- Chapel Hill,
ECU’s medical program and affiliation with Pitt County Hospital, and the Department of Health and
Human Services via their hospital and patient treatment centers. The second major area for write- offs
relates to taxes. These relate specifically to the Department of Revenue and the Employment Security
Commission.
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Report
December 1999
Page 3
The following chart summarizes the State of North Carolina’s major write- off components:
State of North Carolina Total Write- offs for the Fiscal Year Ended June 30, 1999
$ 563.1 million
Contractual
Adjustments $ 293.5
million
52%
Indigent Care Write-
Offs $ 191.9 million
34%
Bad D ebt Write- Offs
$ 77.7 million
14%
Contractual Adjustments. The differences between revenue at established rates and the amounts
realizable from third- party payors under contractual agreements. These adjustments are made to
customer, patient, business, or taxpayer accounts as the result of a contractual agreement to provide
certain services or products at a previously negotiated price. The contractual adjustment is the
difference between the value assigned by the State provider/ supplier of the product or service and the
predetermined price as negotiated with a third- party payor ( example: insurance company).
Indigent Care Write- Offs. The differences between revenue at established rates and the amounts
realizable from the financially responsible party for those receiving the State product or service. In this
instance, the write- off is the result of the financially responsible party being unable to meet the financial
obligations due to poverty or a lack of subsistence.
Bad Debt Write- Offs. All write- offs of bad debts other than those for contractual or indigent care
reasons.
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Report
December 1999
Page 4
Setoff Debt Collection Program Activity
G. S. 105A, Setoff Debt Collection Act, requires all claimant agencies and DOR to cooperate in
identifying debtors who owe money to the State through its various agencies and who qualify for
refunds from DOR. It further requires that procedures be established for setting off against any refund
the sum of any debt owed to the State.
Recent changes to G. S. 105A have expanded the list of claimant agencies to include all State agencies.
This change is effective January 1, 2000. OSC requested that DOR provide summary debt setoff
information for the last three tax years to be included in the annual Statewide Accounts Receivable
Report. Summary data for the prior three tax years is reflected below.
Calendar Year 1999 1998 1997
Tax Year 1998 1997 1996
Gross Amount of Refunds Setoff $ 14,721,654 $ 16,298,065 $ 10,845,604
Collection Assistance Fee Applied Based on
Prior Year Actual Expenses $ ( 485,146) $ ( 787,122) $ ( 399,234)
Net Amount of Refunds Paid to
Claimant Agencies $ 14,236,508 $ 15,510,943 $ 10,446,370
DOR Administrative Expenses - Current Year $ 860,824 $ 536,901 $ 504,027
Total Setoffs ( includes completed, denied, and
canceled setoffs) 81,219 106,589 61,481
Number of Completed Setoffs 72,418 79,530 54,588
Average Gross Setoff Amount $ 203.29 $ 204.93 $ 198.68
Average Cost per Setoff $ 10.60 $ 5.04 $ 8.20
Average Net Amount of Refunds Setoff $ 196.59 $ 195.03 $ 191.37
Additionally, the Office of the State Controller continues to evaluate alternative business practices in
order to improve the Statewide Accounts Receivable Program. Two initiatives that will have potential
impacts on the Statewide Accounts Receivable Program include the Credit Card Acceptance Project
and the Accounts Receivable/ Debt Collection Clearinghouse Project discussed below.
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Report
December 1999
Page 5
Impact of Credit Card Acceptance Project on Accounts Receivable
A joint project between the Office of the State Controller, the Department of State Treasurer, and the
Office of Information Technology Services of the Department of Commerce has been initiated for the
purpose of providing the citizens of North Carolina with additional and more convenient payment
methods. SB 222, ratified in July 1999, authorized State government agencies to maximize acceptance
of electronic payments including credit/ debit card payments. A key objective of the project is to
maximize economies and efficiencies by providing a consistent processing approach to citizens through
a single statewide method for processing credit/ debit card payments by all State agencies. Additional
credit card acceptance objectives are reflected below.
As a result of a competitive bidding process, IBM was engaged to lead a three- month effort to assist in
the analysis of requirements for key credit card payment processes and to prepare a bidding document
for obtaining processing services that will meet statewide needs. Interviews with representative
agencies were conducted to determine common and unique requirements. Best business practices were
reviewed by analyzing both government and private sector processes including payment authorization,
funds settlement, normal and exception process flows, financial reporting and reconciliation.
We anticipate credit card processing services will be available for use by all agencies in June 2000. Key
work tasks and timeframes for meeting this schedule are summarized as follows:
1. In early January 2000, a bidding document was developed to solicit proposals from major credit
card processors. A vendor should be selected by mid March 2000.
2. From the end of January 2000 to the end of April 2000, the State’s common credit card
infrastructure will be built. This work includes: installing the hardware and software necessary to
establish the links to the payment processor’s system, building back- end processes or systems to
handle new financial reporting requirements, and implementing a common payment authorization
service.
3. During April and May 2000, a few agencies will be selected to verify that the new infrastructure
works. This testing phase will involve a full business cycle ( authorization- settlement- reconciliation)
· Improve customer service for citizens
· Reduce accounts receivable
· Reduce credit card fees ( per transaction)
· Enable electronic commerce
· Integrate credit card acceptance into current State
business processes
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Report
December 1999
Page 6
and is anticipated to have two test cases – one for converting existing users of a swiping system, and
another for handling payment in an Internet application.
4. Beginning in June 2000, the procedures will be implemented at additional agencies, as the process is
put into practice statewide.
A positive impact on accounts receivable is anticipated based on faster revenue recognition as the credit
card acceptance and other electronic payment methods become generally accepted practice within State
government.
Impact of Accounts Receivable/ Debt Collection Clearinghouse Project
Section 26 of the 1999 budget bill requires the OSC to study the feasibility of establishing a one- year
Bad Debt Collection Clearinghouse Pilot Program. The study is restricted to approximately one
hundred million dollars ($ 100,000,000) in bad debts representing appropriate types of accounts
receivable. In addition, the study is to address the use of one or more private collection agencies,
whether the potential pilot should be administered jointly by the Department of Revenue and the OSC
and also address local government participation in the pilot program. The report is due the General
Assembly not later than May 1, 2000, along with recommendations on changes in law or procedure to
better collect the bad debts including the feasibility of implementing a Bad Debt Collection
Clearinghouse Pilot Program.
Additionally, HB 1433 requires DOR to contract during the 1999- 2001 fiscal biennium for the
collection of delinquent tax debts owed by nonresidents and foreign entities. Further, the DOR is
required to conduct a study to identify and evaluate proposals for more efficient collection of taxes,
including using electronic commerce and other technology to increase efficiency. The study shall
include an analysis of the most efficient tax collection methods used in other states. The State
Controller is required to cooperate with DOR in this study and DOR is to report the results of its study,
including findings, recommendations, and estimated revenue gains of each recommendation, to the
Revenue Laws Study Committee by May 1, 2000.
Based on the aforementioned legislation, the OSC has engaged PricewaterhouseCoopers LLP in a joint
effort to perform work required to:
· Meet the OSC and Department of Revenue ( DOR) legislative mandates;
· Perform a best business practice review of DOR collection processes;
· Create an attractive scenario for DOR to participate in the debt collection clearinghouse prototype;
· Keep future options open for debt collection; and
· Generate live supportable numbers on the cost- effectiveness of debt collection within NC.
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Report
December 1999
Page 7
The scope of the debt collection clearinghouse prototype is based on total bad debt between
$ 50,000,000 and $ 100,000,000. It is important to stress that this approach is to develop a proof of
concept prototype that will validate the reasonableness of this approach for collecting bad debts. While
the prototype system is not an on- going operational system, it will allow OSC to test the concept and
provide a solid basis for the development of an operational system.
Separate OSC and DOR reports to appropriate legislative committees will be presented in May 2000.
In conclusion, the State Controller believes that by continuing to stress more consistent accounts
receivable policies and procedures, monitoring agency activity closely, coordinating best business
practices among agencies, and establishing and enforcing procedures for write- offs and setoff debt
collection, the State can maximize the collection of past due accounts receivable.
Please contact the Office of the State Controller if additional information is required.
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
1999 1998 1997
Total Receivables
Governmental Funds:
General Fund............................................................. $ 1,327,720 $ 1,380,985 $ 1,221,804
Special Revenue Funds............................................. 425,611 371,282 343,699
Capital Projects Funds............................................... 3,924 3,629 624
Total Governmental Funds....................................... 1,757,255 1,755,896 1,566,127
Proprietary Funds:
Enterprise Funds....................................................... 2,208 2,550 7,971
Internal Service Funds............................................... 61,276 52,403 36,984
Total Proprietary Funds............................................ 63,484 54,953 44,955
Fiduciary Funds:
Expendable Trust Funds............................................ 160,203 239,210 219,134
Non- expendable Trust Funds..................................... 264,499 257,746 233,996
Pension Trust Funds.................................................. 220,740 119,160 118,433
Investment Trust Fund............................................... 10,278 4,063 -
Agency Funds........................................................... 122,552 109,667 106,417
Total Fiduciary Funds............................................... 778,272 729,846 677,980
Component Units:
College and University................................................ 548,693 538,286 524,837
Proprietary................................................................. 1,563,212 1,361,431 1,159,471
Total Component Units............................................. 2,111,905 1,899,717 1,684,308
Total Receivables [ 1]................................................... $ 4,710,916 $ 4,440,412 $ 3,973,370
Percent Increase/ Decrease from Prior Year.................... 6.09% 11.75%
Receivables as % of Total Revenues.............................. 13.30% 12.05% 12.09%
Total State Revenues..................................................... $ 35,432,359 $ 36,848,957 $ 32,860,541
Percent Increase/ Decrease from Prior Year.................... ( 3.84%) 12.14%
[ 1] Total Receivables consist of the following:
1999 % of Total 1998 % of Total
Notes Receivable........................................................... $ 2,047,308 43.46% $ 1,835,168 41.33%
Taxes Receivable........................................................... 926,961 19.68% 981,821 22.11%
Intergovernmental Receivables....................................... 715,723 15.19% 668,903 15.06%
Accounts Receivable...................................................... 423,804 9.00% 371,948 8.38%
Interfund Receivables ( CAFR- Note 8)............................. 358,721 7.61% 353,736 7.97%
Contributions, Premiums, Other Receivables.................. 158,402 3.36% 155,681 3.51%
Interest Receivable........................................................ 79,997 1.70% 73,155 1.64%
Total Receivables ....................................................... $ 4,710,916 100.00% $ 4,440,412 100.00%
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 8
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
1999 1998 1997
Notes Receivable
Governmental Funds:
General Fund............................................................. $ 497 $ 497 $ 497
Special Revenue Funds............................................. 111,095 112,371 99,726
Total Governmental Funds....................................... 111,592 112,868 100,223
Fiduciary Funds:
Expendable Trust Funds............................................ - 81,154 72,560
Non- expendable Trust Funds..................................... 262,499 256,142 232,585
Pension Trust Funds.................................................. 89,125 - -
Total Fiduciary Funds............................................... 351,624 337,296 305,145
Component Units:
College and University................................................ 96,077 84,127 82,031
Proprietary................................................................. 1,488,015 1,300,877 1,108,054
Total Component Units ........................................... 1,584,092 1,385,004 1,190,085
Total Notes Receivable [ 1]............................................. $ 2,047,308 $ 1,835,168 $ 1,595,453
Percent Increase/ Decrease from Prior Year.................... 11.56% 15.02%
[ 1] Notes Receivable consists of the following:
1999 % of Total 1998 % of Total
NC Housing Finance Agency......................................... $ 874,944 42.74% $ 830,169 45.24%
State Education Assistance Authority............................. 600,481 29.33% 459,165 25.02%
Clean Water Revolving Loan & Grant Fund.................... 261,651 12.78% 255,487 13.92%
University Funds............................................................ 95,577 4.67% 83,461 4.55%
Clean Water Bonds Loan Fund...................................... 87,550 4.28% 88,577 4.83%
401( k) Supplemental Retirement Income Plan................ 89,125 4.35% 81,154 4.42%
Other............................................................................. 37,980 1.85% 37,155 2.02%
Total Notes Receivable................................................ $ 2,047,308 100.00% $ 1,835,168 100.00%
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 9
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
1999 1998 1997
Taxes Receivable
Governmental Funds:
General Fund............................................................. $ 594,212 $ 675,428 $ 553,169
Special Revenue Funds............................................. 103,499 103,133 97,070
Total Governmental Funds....................................... 697,711 778,561 650,239
Fiduciary Funds:
Expendable Trust Funds............................................ 116,234 106,293 90,163
Agency Funds........................................................... 113,016 96,967 85,241
Total Fiduciary Funds............................................... 229,250 203,260 175,404
Total Taxes Receivable [ 1]............................................ $ 926,961 $ 981,821 $ 825,643
Percent Increase/ Decrease from Prior Year.................... ( 5.59%) 18.92%
[ 1] Taxes Receivable consists of the following:
1999 % of Total 1998 % of Total
Individual Income Tax..................................................... $ 248,350 26.79% $ 296,232 30.17%
Sales and Use Tax......................................................... 244,330 26.36% 231,372 23.57%
Unemployment Compensation Funds............................. 116,234 12.54% 106,293 10.83%
Local Sales Tax Collections............................................ 113,016 12.19% 96,967 9.88%
State Highway Fund....................................................... 73,818 7.96% 73,735 7.51%
Corporate Income Tax.................................................... 30,892 3.33% 76,679 7.81%
Franchise Tax................................................................ 32,675 3.52% 34,711 3.54%
Highway Trust Fund....................................................... 27,512 2.97% 27,279 2.78%
Beverage Tax................................................................. 15,869 1.71% 15,349 1.56%
Other............................................................................. 24,265 2.63% 23,204 2.35%
Total Taxes Receivable............................................... $ 926,961 100.00% $ 981,821 100.00%
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 10
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
1999 1998 1997
Intergovernmental Receivables
Governmental Funds:
General Fund............................................................. $ 517,803 $ 440,646 $ 482,651
Special Revenue Funds............................................. 77,601 92,766 67,801
Capital Projects Funds............................................... 1,509 176 249
Total Governmental Funds....................................... 596,913 533,588 550,701
Proprietary Funds:
Internal Service Funds............................................... 651 547 370
Total Proprietary Funds............................................ 651 547 370
Fiduciary Funds:
Expendable Trust Funds............................................ 1,440 1,552 1,819
Non- expendable Trust Funds..................................... 122 2 -
Agency Funds........................................................... - 6,238 6,290
Total Fiduciary Funds............................................... 1,562 7,792 8,109
Component Units:
College and University................................................ 105,398 118,841 107,027
Proprietary................................................................. 11,199 8,135 6,455
Total Component Units............................................. 116,597 126,976 113,482
Total Intergovernmental Receivables [ 1]......................... $ 715,723 $ 668,903 $ 672,662
Percent Increase/ Decrease from Prior Year.................... 7.00% ( 0.56%)
[ 1] Intergovernmental Receivables consist of the following:
1999 % of Total 1998 % of Total
Due From Federal Agencies........................................... $ 474,020 66.23% $ 392,459 58.67%
State Highway Fund....................................................... 70,922 9.91% 87,082 13.02%
Community College Funds............................................. 56,127 7.84% 74,573 11.15%
Due From Local Governments........................................ 65,383 9.14% 70,521 10.54%
University Funds............................................................ 49,271 6.88% 44,268 6.62%
Total Intergovernmental Receivables........................... $ 715,723 100.00% $ 668,903 100.00%
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 11
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
1999 1998 1997
Accounts Receivable
Governmental Funds:
General Fund............................................................. $ 95,228 $ 101,960 $ 90,145
Special Revenue Funds............................................. 24,900 11,385 5,112
Capital Projects Funds............................................... 15 203 -
Total Governmental Funds....................................... 120,143 113,548 95,257
Proprietary Funds:
Enterprise Funds....................................................... 1,254 1,622 7,265
Internal Service Funds............................................... 25,505 19,551 13,031
Total Proprietary Funds............................................ 26,759 21,173 20,296
Fiduciary Funds:
Expendable Trust Funds............................................ 14,724 12,896 14,831
Non- expendable Trust Funds..................................... 5 24 3
Pension Trust Funds.................................................. 593 414 358
Agency Funds........................................................... 2,602 1,821 9,433
Total Fiduciary Funds............................................... 17,924 15,155 24,625
Component Units:
College and University................................................ 232,002 204,093 177,064
Proprietary................................................................. 26,976 17,979 13,791
Total Component Units ........................................... 258,978 222,072 190,855
Total Accounts Receivable [ 1]........................................ $ 423,804 $ 371,948 $ 331,033
Percent Increase/ Decrease from Prior Year.................... 13.94% 12.36%
[ 1] Accounts Receivable consists of the following:
1999 % of Total 1998 % of Total
University Funds............................................................ $ 221,915 52.36% $ 192,205 51.68%
DHHS- Division of Medical Assistance............................ 31,089 7.34% 36,399 9.79%
DHHS- Division of Mental Health..................................... 61,612 14.54% 59,352 15.96%
Unemployment Compensation Funds............................. 14,313 3.38% 12,424 3.34%
Community College Funds............................................. 10,087 2.38% 11,888 3.20%
Other............................................................................. 84,788 20.00% 59,680 16.03%
Total Accounts Receivable.......................................... $ 423,804 100.00% $ 371,948 100.00%
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 12
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
1999 1998 1997
Interfund Receivables*
Governmental Funds:
General Fund............................................................. $ 84,711 $ 126,278 $ 63,744
Special Revenue Funds............................................. 90,302 35,865 59,642
Capital Projects Funds............................................... 2,400 3,250 375
Total Governmental Funds....................................... 177,413 165,393 123,761
Proprietary Funds:
Internal Service Funds............................................... 28,384 24,822 20,336
Total Proprietary Funds............................................ 28,384 24,822 20,336
Fiduciary Funds:
Expendable Trust Funds............................................ 26,296 25,711 25,689
Agency Funds........................................................... 6,929 4,638 3,477
Total Fiduciary Funds............................................... 33,225 30,349 29,166
Component Units:
College and University................................................ 105,168 119,678 148,109
Proprietary................................................................. 14,531 13,494 13,602
Total Component Units ........................................... 119,699 133,172 161,711
Total Interfund Receivables............................................ $ 358,721 $ 353,736 $ 334,974
Percent Increase/ Decrease from Prior Year.................... 1.41% 5.60%
* Interfund Receivables are comprised of:
Due From Other Funds
Due From Component Units
Due From Primary Government
Advances to Component Units
( For detail see Comprehensive Annual Financial Report - Note 8)
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 13
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
1999 1998 1997
Contributions, Premiums, Other Receivables
Governmental Funds:
General Fund............................................................. $ 14,413 $ 14,519 $ 14,098
Special Revenue Funds............................................. 8,092 6,962 4,871
Total Governmental Funds....................................... 22,505 21,481 18,969
Proprietary Funds:
Enterprise Funds....................................................... 803 812 637
Internal Service Funds............................................... 5,284 5,541 1,119
Total Proprietary Funds............................................ 6,087 6,353 1,756
Fiduciary Funds:
Expendable Trust Funds............................................ 154 9,882 12,735
Pension Trust Funds.................................................. 129,656 117,965 117,359
Agency Funds........................................................... - - 680
Total Fiduciary Funds............................................... 129,810 127,847 130,774
Total Contributions, Premiums, Other Receivables......... $ 158,402 $ 155,681 $ 151,499
Percent Increase/ Decrease from Prior Year.................... 1.75% 2.76%
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 14
State of North Carolina
Office of the State Controller
Statewide Accounts Receivable Program
Three- Year Analysis of Receivables
( Expressed in Thousands)
Interest Receivable 1999 1998 1997
Governmental Funds:
General Fund............................................................. $ 20,856 $ 21,657 $ 17,500
Special Revenue Funds............................................. 10,122 8,800 9,477
Total Governmental Funds....................................... 30,978 30,457 26,977
Proprietary Funds:
Enterprise Funds....................................................... 151 116 69
Internal Service Funds............................................... 1,452 1,942 2,128
Total Proprietary Funds............................................ 1,603 2,058 2,197
Fiduciary Funds:
Expendable Trust Funds............................................ 1,355 1,722 1,337
Non- expendable Trust Funds..................................... 1,873 1,578 1,408
Pension Trust Funds.................................................. 1,366 781 716
Investment Trust Fund............................................... 10,278 4,063 -
Agency Funds........................................................... 5 3 1,296
Total Fiduciary Funds............................................... 14,877 8,147 4,757
Component Units:
College and University................................................ 10,048 11,547 10,606
Proprietary................................................................. 22,491 20,946 17,569
Total Component Units ........................................... 32,539 32,493 28,175
Total Interest Receivable................................................ $ 79,997 $ 73,155 $ 62,106
Percent Increase/ Decrease from Prior Year.................... 9.35% 17.79%
June 30
Source: State of North Carolina
Comprehensive Annual Financial Report Page 15