Biennial report of the Treasurer of North Carolina |
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THE LIBRARY OF THE UNIVERSITY OF NORTH CAROLINA THE COLLECTION OF NORTH CAROLINIANA C336 N87t 1966/67-1967/68 UNIVERSITY OF N.C. AT CHAPEL HILL 00033968500 FOR USE ONLY IN THE NORTH CAROLINA COLLECTION Digitized by the Internet Arciiive in 2011 witii funding from Ensuring Democracy tiirough Digital Access (NC-LSTA) http://www.archive.org/details/biennialtreasr19661968nc BIENNIAL REPORT TREASURER STATE OF NORTH CAROLINA FISCAL YEARS ENDED JUNE 30, 1967 AND 1968 BIENNIAL REPORT TREASURER STATE OF NORTH CAROLINA FISCAL YEARS ENDED JUNE 30, 1967 AND 1968 EDWIN GILL STATE TREASURER PUBLIC TREASURERS OP NORTH CAROLINA From To Richard Caswell, Northern District 1775 1777 Samuel Johnston, Southern District 1775 1777 Memuncan Hunt 1777 1787 John Haywood 1787 1827 William S. Robards .__ 1827 1830 William S. Mhoon _. 1830 1835 Samuel T. Patterson 1835 1837 Daniel W. Courts .._ __._.. 1837 1839 Charles L. Hinton 1839 1843 John W. Wheeler __ 1843 1845 Charles L. Hinton . 1845 1851 Daniel W. Courts 1851 1863 Jonathan Worth .._ 1863 1865 Jonathan Worth, Provisional Treasurer June 12, 1865 Nov. 16, 1865 William Sloan Nov. 16, 1865 Jan. 1, 1866 Kemp B. Battle ..Jan. 1, 1866 July 8, 1868 David A. Jenkins July 8, 1868 Nov. 22, 1876 John M. Worth Nov. 22, 1876 Jan. 21, 1885 Donald W. Bain Jan. 21, 1885 Nov. 16, 1892 Samuel McD. Tate Nov. 16, 1892 Jan. 23, 1895 William H. Worth Jan. 23, 1895 Jan. 15, 1901 Benjamin R. Lacy Jan. 15, 1901 Feb. 21, 1929 Nathan O'Berry Feb. 23, 1929 Jan. 6, 1932 John P. Stedman Jan. 7, 1932 Nov. 21, 1932 Charles M. Johnson Nov. 21, 1932 Jan. 6, 1949 Brandon P. Hodges Jan. 6, 1949 July 20, 1953 N T3 Edwin Gill July 20, 1953 CONTENTS Biennial Report of State Treasurer—June 30, 1967 and 1968 Page Statement of Treasurer's Cash Position—1967 - - 7 Statement of Treasurer's Cash Position—1968 - 8 Statement of Treasurer's Cash Receipts and Disbursements—1967 10 Statement of Treasurer's Cash Receipts and Disbursements—1968 -12 Funds Deposited in North Carolina Banks—1967 _ — - — - 14 Funds Deposited in North Carolina Banks—1968 14 Funds Invested in United States Government Securities^l967 25 Funds Invested in United States Government Securities—1968 26 Bond Sinking Funds and Reserves—1967 - 27 Bond Sinking Funds and Reserves—1968 - - 27 Statement of State Property Fire Insurance Fund—1967 —-27 Statement of State Property Fire Insurance Fund—1968 -— 27 Statement of Public School Insurance Fund—1967 28 Statement of Public School Insurance Fund—1968 -- - --28 Statement of Teachers and State Employees Retirement System—1 967 28 Statement of Teachers and State Employees Retirement System—1968 - 28 Statement of the Local Governmental Employees Retirement System—1967 - 28 Statement of the Local Governmental Employees Retirement System—1968 - - — 28 Statement of Firemen's Pension Fund—1967 29 Statement of Firemen's Pension Fund—1968 29 Statement of Law Enforcement Officers Benefit and Retirement Fund—1967 29 Statement of Law Enforcement Officers Benefit and Retirement Fund—1968 29 Statement of Literary Loan Fund—1967 29 Statement of Literary Loan Fund—1968 29 North Carolina State Education Assistance Authority Trust Fund—1967 .- 30 North Carolina State Education Assistance Authority Trust Fund—1968 30 State Commission for the Blind, Bureau Reserve Funds—1968 30 Special Funds Cash Balances—1967 - 31 Special Funds Cash Balances—1968 31 Capital Improvement Cash Balances—1967 37 Capital Improvement Cash Balances—1968 37 Bonded Indebtedness—1967 45 Bonded Indebtedness—1968 45 Annual Debt Requirements _ _ 47 Statement of Securities Held in Trust—1967 49 Statement of Securities Held in Trust—1968 49 General Fund—Statement of Revenues and Expenditures—1967 51 General Fund—Statement of Revenues and Expenditures—1968 - 51 Highway Funds—Statement of Revenues and Expenditures—1967 52 Highway Funds—Statement of Revenues and Expenditures—1968 52 Earnings from Treasurer's Investments 53 Secondary Road Bond Reserve and Highway Bond Reserve of Highway Funds 54 Interest Rates on Certificates of Deposit 55 Objectives, Functions and Programs — — 56 January 6, 1969 Honorable Robert W. Scott Governor of North Carolina The Advisory Budget Commission, and, Members of the General Assembly, Raleigh, North Carolina Gentlemen : In compliance with the provisions of G. S. 147-68, I submit herewith the report of the Treasurer of the State of North Caro-lina covering the fiscal years ending June 30, 1967, and June 30, 1968. Please note that the format of our report has been changed with the view of summarizing and simplifying the statements showing the cash funds and securities held by the State Treas-urer. Please note, also, that we have included a narrative des-cription of the objectives, functions and programs of the Office of the State Treasurer. As Treasurer, I take pride in submitting this report which is another chapter in the fiscal life of our State and which re-flects the integrity and the sound business principles that have been practiced in our State for many years. Respectfully submitted, ^^ CUM EDWIN GILL State Treasurer d STATEMENT OF TREASURER'S CASH POSITION June 30, 1967 ASSETS Cash on hand $ $ 13,000.00 Demand deposits (Page 24) 50,160,189.07 Less warrants of State agencies outstanding _. 42,580,751.30 7,579,437.77 Treasurer's Investments: Certificates of deposit N. C. banks (Page 24) 159,688,400.00 U. S. Government securities, at cost (Page 25) 419,061,221.63 578,749,621.63 $586,342,059.40 FUND CASH BALANCES General fund $ $206,421,401.49 Bond Sinking Funds and Reserves Page (27): General Fund 760,315.18 Highway Fund 49,245,137.56 50,005,452.74 Capital Improvement Funds 119,370,854.63 Special Funds: Highway Fund 211,184,302.55 Less Secondary Road Bond Reserves 49,245,137.56 161,939,164.99 Self Insurance Funds (Page 27-28) : State Owned Property 61,128.93 Public School Buildings 482,880.36 544,009.29 Retirement and Pension Funds (Page 28-29): Teachers and State Employees 708,373.58 Local Governmental Employees 689,225.56 North Carolina Firemen's 371,296.22 Law Enforcement Officers 187,137.04 1,956,032.40 8 Report of State Treasurer Literary Loan Fund (Page 29) - -- 567,441.42 N. C. State Education Assistance Authority Trust Fund (Page 30) 2,961.61 Other Special Funds (Page 36) 45,534,740.83 Total Special Funds - 210,544,350.54 $586,342,059.40 STATEMENT OF TREASURER'S CASH POSITION June 30, 1968 ASSETS Cash on hand ___... $ $ 13,000.00 Demand Deposits (Page 24) _._ _ __. 56,680,689.97 Less warrants of State Agencies outstanding 59,228,137.40 (2,547,447.43) Treasurer's Investments: Certificates of deposit N. C. Banks (Page 24) 152,330,600.00 U. S. Government securities, at Cost (Page 27) 422,816,201.85 575,146,801.85 $572,612,354.42 FUND CASH BALANCES General Fund - $132,545,226.78 Bond Sinking Funds and Reserves (Page 27) General Fund - $ 327,738.39 Highway Fund 39,733,769.23 40,061,507.62 Capital Improvement Funds 174,697,993.31 Special Funds: Highway Fund 211,669,813.90 Less Secondary Road Bond Reserves 39,733,769.23 171,936,044.67 Self Insurance Funds (Page 27-28) : State owned property 261,164.34 Report of State Treasurer £ Public School Buildings -- 565,014.92 826,179.26 Retirement and Pension Funds (Page 28-29) Teachers & State Employees 2,259,721.39 Local Governmental Employees 1,240,787.21 North Carolina Firemen's 77,670.97 Law Enforcement Officers - 224,029.46 3,802,209.03 Literary Loan Fund (Page 29) .... 662,989.32 N. C. State Education Assistance Authority Trust Fund (Page 30) .- 2,075.79 State Commission for Blind — Bureau Reserve Funds (Page 30) 6,832.47 Other Special Funds (Page 36) 48,071,296.17 Total Special Funds 225,307,626.71 $572,612,354.42 10 Report of State Treasurer STATEMENT OF TREASURER'S YEAR ENDED Combined General Fund Cash balances, July 1, 1966 $ 414,578,309.21 $144,516,340.91 Receipts: Tax revenues -.. - 1,101,889,792.40 669,947,783.87 Non-tax revenues 23,375,477.10 23,375,477.10 Total revenues 1,125,265,269.50 693,323,260.97 Non-revenue receipts 675,997,721.45 84,388,289.83 Receipt transfers 285,309,987.27 107,174,850.04 Total receipts __. 2,086,572,978.22 884,886,400.84 Disbursements: Revenue refunds and allocations - 69,282,189.18 69,282,189.18 Disbursement transfers 252,873,991.44 48,522,392.10 Other disbursements 1,592,653,047.41 705,176,758.98 Total disbursements 1,914,809,228.03 822,981,340.26 Cash balances, June 30, 1967 ^ $ 586,342,059.40 $206,421,401.49 The accounts of the State Treasurer are necessarily maintained on a cash basis as to m various funds for which the Treasurer acts as custodian of certain assets. Such method tary control purposes to the extent of bank deposits in transit and warrants outstanding For informational purposes, statements of revenues and expenditures as prepared from fund are included on pages 51 and 52, respectively. Report of State Treasurer 11 cash receipts and disbursements I JUNE 30, 1967 Capital Bond Special Funds Ipaprovement Sinking Funds Highway Other Total Funds And Reserves $119,816,274.01 $ 49,573,623.61 $ 169,389,897.62 $100,399,742.19 $ 272,328.49 431,942,008.53 431,942,008.53 431,942,008.53 _... 431,942,008.53 506,884,442.40 506,884,442.40 83,483,592.53 1,241,396.69 3,332,653.30 163,481,730.97 166,814,384.27 11,320,752.96 435,274,661.83 670,366,173.37 1,105,640,835.20 94,804,345.49 1,241,396.69 23,828,108.25 173,577,588.60 197,405,696.85 6,945,902.49 320,078,525.04 497,757,022.83 817,835,547.87 68,887,330.56 753,410.00 343,906,633.29 671,334,611.43 1,015,241,244.72 75,833,233.05 753,410.00 $211,184,302.55 $ 48,605,185.55 $ 259,789,488.10 $119,370,854.63 $ 760,315.18 eceipts and disbursements and do not purport to show the results of operations of the )f accounting differs from the method employed by the Director of the Budget for budge-it the beginning and end of the fiscal year. he records of the Director of the Budget for the General Fund and for the Highway 12 Report of State Treasurer STATEMENT OF TREASURER'S YEAR ENDED Combined General Fund Cash balances, July 1, 1967 $ 586,342,059.40 $ 206,421,401.49 Receipts: Tax revenues 1,275,378,364.32 755,153,809.50 Non-tax revenues -- 1,466,987.55 1,466,987.55 Total Revenues -- 1,276,845,351.87 756,620,797.05 Non-Revenues Receipts .- 745,002,295.98 124,277,280.15 Receipts Transfers - _ 429,468,481.78 91,567,182.37 Total Receipts - 2,451,316,129.63 972,465,259.57 Disbursements: Revenue refunds and allocations 75,699,245.30 74,699,245.30 Disbursement Transfers 430,935,227.33 192,462,753.23 Other Disbursements 1,958,411,361.98 778,179,435.75 Total Disbursements 2,465,045,834.61 1,046,341,434.28 Cash balances, June 30, 1968 572,612,354.42 132,545,226.78 The accounts of the State Treasurer are necessarily maintained on a cash basis as to various funds for which the Treasurer acts as custodian of certain assets. Such method tary control purposes to the extent of bank deposits in transit and warrants outstanding For informational purposes, statements of revenues and expenditures as prepared from Fund are included on pages 51 and 52 respectively. Report of State Treasurer 13 jasn receipts and disbursements rUNE 30, 1968 Capital Bond Special Funds Improvement Sinking Funds Highway Other Total Funds And Reserves $211,184,302.55 $ 48,605,185.55 $ 259,789,488.10 $119,370,854.63 $ 760,315.18 520,224,554.82 520,224,554.82 520,224,554.82 520,224,554.82 591,829,055.41 591,829,055.41 23,813,812.21 5,082,148.21 26,087,970.74 199,040,402.83 225,128,373.57 112,770,765.84 2,160.00 546,312,525.56 790,869,458.24 1,337,181,983.80 136,584,578.05 5,084,308.21 113,160,353.47 119,505,435.63 232,665,789.10 289,800.00 5,516,885.00 432,666,660.74 666,597,626.12 1,099,264,286.86 80,967,639.37 545,827,014.21 786,103,061.75 1,331,930,075.96 81,257,439.37 5,516,885.00 211,669,813.90 53,371,582.04 265,041,395.94 174,697,993.31 327,738.39 sceipts and disbursements and do not purport to show the results of operrvtions of the [ accounting differs from the method employed by the Director of the Budget for budge-t the beginning and end of the fiscal year. ae records of the Director of the Budget for the General Fund and for the Highway 14 Report of State Treasurer O *; !-> OS euS Oa 4-1 ID s u Q a O o tH ©M T3 M a o Pi a (U Q Q oo o o o c> o o oo oo oo oo O O o o O ITS O iH O 00 O 'ti 05 U5 05 00 •* t- "<*l o oo t- CO CO tH tH 05 * eo ic «D lo i-H U5 CO Ifl rH CO -^ r-i *' M O Ifl lO 00 lA <X> 00 Ol CO ca as 05 C<l iH OS CO la CO t- LO 05 «*< M (M Lft OS Tfl 0-^05 in N 1-1 Tf i-H •t-> o i?: to O. «f3 u 9) Q 0-1 "Si 1-1 O O M 1^ © CO O D fi ss •a •4^ g 1^ a O P< <» <1> Q O f« S5 s iH QD o 00 "^ iH d o o OJ ^ CD c ^ o; •-" -a Al u w 0) o •^ 3 '-' CO TO ^ CO <^ ctf W .2 ^ O CO s .i ^ ti *i <j <j <j o '='. 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Treasury bills: Due 8-17-67 $ 6,935,950.00 $ 7,000,000.00 Due 10-31-67 4,900,000.00 5,000,000.00 Due 11-02-67 19,643,426.39 20,000,000.00 Due 11-09-67 4,920,861.11 5,000,000.00 Due 11-16-67 19,616,400.00 20,000,000.00 Due 12-21-67 -- 4,904,616.67 5,000,000.00 60,921,264.17 62,000,000.00 U. S. Treasury certificates of indebtedness: 5%% Due 8-15-67 - 7,965,000.00 8,000,000.00 7,965,000.00 8,000,000.00 U. S. Treasury notes: 3%% Due 8-15-67 25,233,598.08 25,000,000.00 5%% Due 2-15-68 ^ -. 10,999,062.50 11,000,000.00 4%% Due 5-15-68 25,000,000.00 25,000,000.00 414% Due 8-15-68 - 29,960,156.25 30,000,000.00 5% Due 11-15-70 10,000,000.00 10,000,000.00 514% Due 5-15-71 25,000,000.00 25,000,000.00 5%% Due 11-15-71 - —- 7,000,000.00 7,000,000.00 4%% Due 2-15-72 40,359,887.77 40,250,000.00 173,552,704.60 173,250,000.00 U. S. Treasury bonds: 3%% Due 8-15-68 36,796,718.75 38,000,000.00 378% Due 11-15-68 9,677,581.52 10,000,000.00 4% Due 10-01-69 43,338,312.50 44,000,000.00 4% Due 2-15-70 -.._.. 50,980,523.12 52,000,000.00 4% Due 8-15-70 2,911,346.69 3,000,000.00 143,704,482.58 147,000,000.00 U. S. Agency securities: 4.80% Banks for Coops. Due 12-4-67 . 9,999,218.75 10,000,000.00 41/2% F.I.C.B. Due 3-4-68 .- 6,996,875.00 7,000,000.00 4% % F.N.M.A. Due 6-14-68 8,998,027.78 9,000,000.00 4%% Land Bank Due 1-20-69 1,247,500.00 1,250,000.00 514% F.N.M.A. PC Due 9-29-69 4,000,000.00 4,000,000.00 41/2% Land Bank Due 10-1-70 1,676,158.75 1,665,000.00 32,917,780.28 32,915,000.00 $419,061,221.63 $423,165,000.00 26 Report of State Treasurer FUNDS INVESTED IN U. S. GOVERNMENT SECURITIES TREASURER'S CASH BALANCES JUNE 30, 1968 Description Cost Face Value U. S. Treasury bills: Due 8-22-68 $ 1,970,526.11 $ 2,000,000.00 Due 9-26-68 7,893,200.00 8,000,000.00 Due 10-24-68 - - - 4,858,950.00 5,000,000.00 Due 11-07-68 4,855,663.89 5,000,000.00 Due 11-14-68 - 2,913,725.00 3,000,000.00 Due 12-05-68 4,877,297.22 5,000,000.00 Due 12-19-68 -- -- -- 4,864,769.44 5,000,000.00 Due 12-26-68 - 4,860,719.44 5,000,000.00 37,094,851.10 38,000,000.00 U. S. Treasury notes: 41^% Due 8-15-68 32,922,225.27 51/4% Due 11-15-68 18,000,454.08 5%% Due 2-15-69 5,000,000.00 5%% Due 5-15-69 20,015,692.93 6% Due 8-15-69 ...._. 22,026,761.67 5% Due 11-15-70 10,997,536.06 5%% Due 2-15-71 17,962,708.33 51^% Due 5-15-71 - 1,975,434.78 5% % Due 11-15-71 2,000,000.00 4%% Due 2-15-72 44,880,930.63 6% Due 5-15-75 3,000,421.20 33,000 18,000 5,000 20,000 22,000 11,000 18,000 2,000 2,000 45,000 3,000 000.00 ,000.00 000.00 ,000.00 000.00 ,000.00 000.00 000.00 ,000.00 000.00 000.00 178,782,164.95 179,000,000.00 U. S. Treasury bonds: 3%% Due 8-15-68 20,287,343.75 Due 12-15-68 34,511.22 Due 10-01-69 43,338,312.50 Due 2-15-70 51,940,657.22 21/2% 4% 4% 21,000,000.00 35,000.00 44,000,000.00 53,000,000.00 115,600,824.69 118,035,000.00 U. S. Agency securities: 5.60% Banks for Coops. Due 7-1-68 5,000,000.00 5.65% Banks for Coops. Due 8-1-68 6,999,062.50 5%% F.I.C.B. Due 8-1-68 5,000,000.00 5%% Federal Home Loan Due 8-26-68 -- 2,002,937.50 5.80% Banks for Coops. Due 10-1-68 .....^ 5,000,000.00 5.95% F.I.C.B. Due 10-1-68 5,000,000.00 5.85% Federal Home Loan Due 10-25-68 5,124,312.50 5.90% Banks for Coops. Due 11-4-68 .... 5,000,000.00 5,000 7,000 5,000 2,000 5,000, 5,000 5,000 5,000 ,000.00 ,000.00 000.00 000.00 000.00 000.00 000.00 ,000.00 Report of State Treasurer 27 5%% F.I.C.B. Due 11-4-68 -- -- 17,080,486.11 17,000,000.00 5%% F.I.C.B. Due 12-2-68 , 2,000,000.00 2,000,000.00 6.20% Banks for Coops. Due 12-2-68 _ 10,994,375.00 11,000,000.00 5.95% Land Bank Due 12-23-68 4,000,000.00 4,000,000.00 4%% Land Bank Due 1-20-69 1,247,500.00 1,250,000.00 6.45% F.I.C.B. Due 3-3-69 .- - - 1,998,750.00 2,000,000.00 51^% F.N.M.A. PC Due 9-29-69 4,000,000.00 4,000,000.00 6.35% F.N.M.A. PC Due 2-11-70 4,000,000.00 4,000,000.00 41/8% F.N.M.A. Due 9-10-70 1,901,875.00 2,000,000.00 5%% F.N.M.A. Due 10-13-70 -- 4,989,062.50 5,000,000.00 91,338,361.11 91,250,000.00 $422,816,201.85 $426,285,000.00 BOND SINKING FUNDS AND RESERVES ASSETS June 30, 1967 Treasurer's Cash: General Fund accounts $ 760,315.18 Highway Funds accounts 49,245,137.56 U. S. Government securities at cost 5,279,000.00 June 30, 1968 $ 327,738.39 39,733,769.23 277,000.00 $55,284,452.74 $40,338,507.62 FUND BALANCES General Fund: Bond Sinking Funds .._$ 6,034,093.38 State Ports Bond .._ 5,221.80 Highway Fund: Secondary Road Bond Reserves 49,245,137.56 $ 599,516.59 5,221.80 39,733,769.23 $55,284,452.74 $40,338,507.62 STATEMENT OF STATE PROPERTY FIRE INSURANCE FUND ASSETS June 30, 1967 June 30,1968 Cash $ 61,128.93 $ 261,164.34 U. S. Government Securities, at cost 3,662,959.18 3,757,345.84 FUND BALANCES Fund Balances with State Treasurer ,724,088.11 $4,018,510.18 ,724,088.11 $4,018,510.18 28 Report of State Treasurer statement of public school insurance fund ASSETS June 30, 1967 June 30, 1968 Cash _._ - $ 482,880.36 $ 565,014.92 U. S. Government Securities, at cost _._. 3,323,618.83 3,719,760.59 5,806,499.19 $4,284,775.51 FUND BALANCES Fund Balances with State Treasurer $3,806,499.19 $4,284,775.51 STATEMENT OF THE TEACHERS AND STATE EMPLOYEES RETIREMENT SYSTEM ASSETS June 30, 1967 June 30, 1968 Cash - _ $ 708,373.58 $ 2,259,721.39 North Carolina county & city bonds, at cost 8,811,560.62 8,911,129.08 U. S. Government securities, at cost 167,834,095.04 153,284,953.66 U. S. Agency securities, at cost 41,615,332.82 55,288,015.60 Corporate securities, at cost: Debentures 317,804,486.36 394,839,960.79 Common stocks __.. -- 42,526,931.33 52,597,034.33 Public Housing Authority securities at cost 8,059,958.19 14,747,302.22 $587,360,737.94 $681,928,117.07 FUND BALANCES Fund Balances with State Treasurer $587,360,737.94 $681,928,117.07 STATEMENT OF THE LOCAL GOVERNMENTAL EMPLOYEES RETIREMENT SYSTEM ASSETS June 30, 1967 June 30, 1968 Cash _.. _ $ 689,225.56 $ 1,240,787.21 North Carolina county and city bonds, at cost 3,288,582.96 3,337,880.37 U. S. Government securities, at cost 19,211,521.89 19,243,230.33 U. S. Agency securities, at cost 9,667,806.82 11,625,332.93 Corporate securities, at cost: Debenture bonds 44,132,247.74 54,907,363.65 Common Stocks - 4,725,214.88 5,844,115.18 .714,599.85 $96,198,709.67 FUND BALANCES Fund Balances with State Treasurer $81,714,599.85 $96,198,709.67 Report of State Treasurer 29 statement of firemen's pension fund ASSETS June 30,1967 June 30, 1968 Cash .-.- $ 371,296.22 $ 77,670.97 U. S. Government securities, at cost 1,725,635.95 2,340,065.99 $2,096,932.17 $2,417,736.96 FUND BALANCES Fund Balances with State Treasurer $2,096,932.17 $2,417,736.96 STATEMENT OF LAW ENFORCEMENT OFFICERS BENEFIT AND RETIREMENT FUND ASSETS June 30, 1967 June 30, 1968 Cash $ 187,137.04 $ 224,029.46 North Carolina county and city bonds, at cost 7,043,207.22 7,008,703.38 U. S. Government securities, at cost 316,424.71 278,695.66 Savings and Loan shares 15,000.00 15,000.00 Corporate debenture bonds, at cost _ 26,799,191.97 30,744,616.02 $34,360,960.94 $38,271,044.52 FUND BALANCES Fund Balances with State Treasurer $34,360,960.94 $38,271,044.52 STATEMENT OF LITERARY LOAN FUND ASSETS June 30, 1967 June 30,1968 Cash $ 567,441.42 $ 662,989.32 Notes Receivable 499,750.00 499,900.00 U. S. Government securities, at cost 470,800.00 474,250.00 $1,537,991.42 $1,637,139.32 FUND BALANCE Fund Balance with State Treasurer ...._. $1,537,991.42 $1,637,139.32 30 Report of State Treasurer north carolina state education assistance authority trust fund ASSETS June 30,1967 June 30, 1968 Cash - $ 2,961.61 $ 2,075.79 U. S. Government Securities, at cost 288,886.19 700,531.82 $291,847.80 $702,607.61 FUND BALANCE Fund Balances with State Treasurer $291,847.80 $702,607.61 STATE COMMISSION FOR THE BLIND, BUREAU RESERVE FUNDS June 30, 1968 ASSETS Cash $ 6,832.47 U. S. Government Securities, at cost __ 292,556.04 $299,388.51 FUND BALANCES Fund Balances with State Treasurer $299,388.51 Report of State Treasurer SPECIAL FUND CASH BALANCES 31 STATE DEPARTMENTS AND BUDGET CODE DESCRIPTION eneral Government Administration, Department of: 10801—State Surplus Commodities and Public Printing and Co-operative Supplies — .— . 10802—Federal Property Agency ____ 10803—Central Motor Pool—Operations 10804—Central Motor Pool—Equipment Fund 10806—Capital Improvement Advance Planning Revolving Fund 10811—Economic Opportunity Program 10812—State Planning Task Force 10813—Department of Administration — Special Programs »cal Government Commission: 10821—Law Publication Revolving Fund Cash Balance Cash Balance June 30, 1967 June 30, 1968 $ 20,132.14 $ 83,766.75 246,838.43 185,859.63 158,191.34 157,873.98 39,420.67 116,790.44 1,655,761.01 .35 .35 22,101.92 173,226.10 iblic Safety and Regulatory Boards and Commissions: 12771—Commissioner of Banks __ 12781—Burial Association Commission _. 12791—Board of Barber Examiners 12801—Board of Cosmetic Art _.. -- 12811—Board of Opticians 12812—Board of Examiners of Practicing Psychologists n\ Defense, State Council of: 12865—Contribution to Local Units—Federal 12867—Community Shelter Program 12869—Emergency Planning—Federal ..— 12871—Radiological Equipment Program iustrial Commission: 12881—Second Injury Fund iurance Department: 12835—Workmen's Compensation Security Fund Mutual Account 12837—Workmen's Compensation Security Fund Stock Account 12839—Publications Fund 12841—Firemen's Relief Fund tor Vehicles, Department of: 12714—Personalized Registration Plate Fund 12715—Safety Responsibility Depository Account 12717—Dealers—Manufacturers License Fund 3,682.29 23,036.04 27,423.58 18,425.53 72,144.55 25,592.39 96,607.98 28,191.12 4,314.41 639,567.20 649,749.55 40,066.23 35,411.19 85,151.03 97,087.32 220,155.45 227,366.02 11,741.10 11,459.83 2,915.61 51,783.25 15,304.66 5,075.25 3,538.78 6,687.67 6,687.67 5,470.61 1,742.15 61,128.10 65,856.51 41,698.54 45,274.46 19,457.62 65,946.36 27,726.64 26,431.20 71,312.22 32 Report of State Treasurer SPECIAI> FUNDS CASH BALANCES—(Continued) Cash Balance Cash Balance June 30, 1967 June 30, 1968 12719—Bus Regulation Depository Account 44,730.77 43,880.77 12721—Lien Recording Fund ....._ 2,588.61 9,316.23 12723—Safety Inspection Equipment Fund 151,800.52 214,654.97 12725—Commercial Driver Training Fund 850.00 900.00 12761—Gasoline & Oil Inspection Fund 475,084.38 497,769.17 Miscellaneous Accounts: 12901—Assurance of Land Titles _-. 3,361.98 3,369.31 12902—Absentee Insurance Fund 146.02 502.34 Correction: 14721—North Carolina Board of Juvenile Correction—Federal Fund ,. 17,330.33 North Carolina Department of Correction: 14831—Enterprises Revolving Fund 3,647,956.21 3,734,028.51 Public Welfare Blind, Commission for the: 16761—Federal Aid 3,776.47 48.9C 16763—Administration—Federal 164,546.49 169,396.4S 16765—County Account 29,681.76 20,525.92 16767—Vocational Rehabilitation—Federal 101,479.08 lll.OE 16769—Bureau Reserve Funds 250,000.00 Welfare, Department of Public: 16721—Old Age Assistance—Federal 286,953.31 143,151.0; 16723—Aid to Dependent Children—Federal 404,467.94 546,738.31 16729—Aid to Permanently & Totally Disabled- Federal _ 284,141.86 18,086.5: 16731—Medical Assistance to Aged 54,404.35 16733—Hospitalization & Medical Assistance for Assistance Recipients 2,200,111.70 3,495,668.2 16735—Child Welfare Services—Federal _. 259,137.42 111,891.8 16737—OASI—Disability Determinations—Federal ...... 26,115.51 52,891.0 16738—Homemaker Services to the Aged 17,895.80 17,895.8 16739—Community Services Demonstration Project — Federal _ 56,050.41 Miscellaneous Account: 16801—Confederate Women's Home—Trust Fund 774.78 Education Education, Board of: 18791—Sir Walter Raleigh Memorial Fund _..- 10,154.58 18801—Division of School Planning .22 18802—Public School Facilities of 1963 7,699.87 18803—Elementary & Secondary Education Act of 1965—Title I (Federal) __ 1,436,540.11 Report of State Treasurer 3? SPECIAL FUNDS CASH BALANCES—(Continued) Cash Balance Cash Balance June 30, 1967 June 30, 1968 18804—Elementary & Secondary Education Act of 1965 — Title II (Federal) 18805—Elementary & Secondary Education Act of 1965—Title V (Federal) 18807—Elementary & Secondary Education Act of 1965—Title III (Federal) 18808—Elementary & Secondary Education Act of 1965—Title VI (Federal) 18811—Special Fund - _. - 18816—State Textbook Fund - 3,209,863.24 18821—Commercial Education & Trade Schools Fund - 18826—Community School Lunchroom Program _. 18831—Adult Education Civil Defense _ 18841—Vocational Education—Federal 18846—Vocational Textile School—Federal 18856—Student Loan Fund—Teacher Education 18861—Student Loan Fund—Rodman Trust Fund 18863—Student Loan Fund—Vocational and Technical Education , 18866—Resource—Use of Education Commission 18871—Health Education—Rockfeller Foundation 18873—National Defense Education Program 18874—Manpower Development & Training Account ..... 18876—Driver Training & Safety Education 3,703,542.85 18879—School Improvement Project—N. C. Fund 18880—Advancement School _ 18881—N. C. Science & Technology Research Center ..- 18882—Governor's School Education, Board of Higher: 18919—Community Service & Continuing Education Program 396,174.12 452,025.87 Education Facilities Commission, Higher: 18902—Higher Education Facilities 6,884.57 6,852.33 Educatonal Institutions—State Colleges & Universities: North Carolina A & T State University .... 18905—Auxiliary Institutional Services 18954—Overhead Receipts Appalachian State University 18907—Auxiliary Institutional Services 18955—Overhead Receipts Asheville-Biltmore College 18913—Auxiliary Institutional Services 18916—Overhead Receipts East Carolina University 18904—Auxiliary Institutional Services 282,507.13 30,430.89 119,464.63 110,041.86 4,589.23 18,266.00 80,155.04 10,071.34 ,209,863.24 3,908,913.56 2,316.16 55,927.84 283,979.90 51,955.72 47,651.16 .30 66,265.73 3,388.21 5,226.51 643,386.91 814,027.02 39,845.39 6,265.32 2,661.59 4,168.04 817.58 289.02 262.47 309,491.97 731,439.90 210,068.89 215,596.62 703,542.85 3,595,083.81 439,947.91 86,665.15 87,638.80 206,716.23 558,527.54 466,544.32 134,473.02 157,730.67 214,649.64 87,221.81 60,382.59 33,452.10 478,862.51 589.018.34 15,424.82 48,700.14 5,286.93 4,731.41 2,006.65 2,604.26 72,391.05 136,185.22 34 Report of State Treasurer SPECIAI. FUNDS CASH BAIjANCES—(Continued) Cash Balance June 30, 1967 18953—Off Campus Branches 47,283.73 18957—Overhead Receipts ._.. _ 9,306.82 Fayetteville State Teachers College 18911—Auxiliary Institutional Services 90,978.54 18963—Overhead Receipts 3,627.00 North Carolina College at Durham 18912—Auxiliary Institutional Services 472,540.23 18956—Overhead Receipts — - 3,286.04 Pembroke State College 18908—Auxiliary Institutional Services 54,784.44 University of North Carolina at Chapel Hill 18920—General Administration—Overhead Receipts .-. 221,212.28 18921—University Enterprises 785,911.08 18922—Overhead Receipts -- - -- -- 59,097.94 18923—Auxiliary Institutional Services 196,632.51 18926—Escheat Refund Account 35.65 University of North Carolina at Greensboro 18950—Auxiliary Institutional Services 430,451.40 18952—Overhead Receipts 40,711.98 North Carolina State University at Raleigh 18941—Auxiliary Institutional Services 220,786.01 18942—Overhead Receipts _ 341,840.79 18946—Operation of Coliseum 50,242.17 Western Carolina University 18906—Auxiliary Institutional Services 569,450.27 18958—Overhead Receipts - - .- 34,786.20 Winston-Salem State College 18909—Auxiliary Institutional Services Department of Archives & History 18987—Special Operations Medical Care Commission 18901—Medical Education Loan Fund 456,216.94 Library, State 18981—Federal Aid - 177,214.45 18982—Library Community Project 15.38 18985—Federal Construction Account 98,916.00 N. C. School for the Deaf 18990—Clearing Account 2,222.09 Eastern N. C. School for the Deaf 18992—Clearing Account 89.09 Governor Morehead School 18994—Clearing Account 14,683.03 Art Museum, State 18961—Special Gift Account - 33,728.44 Cash Balance June 30, 1968 I 30,201.79 I 17,701.52 133,248.90 11,958.42 470,391.83 I 786.04 12,860.29 100,058.42 383,336.18 (197,468.34)^ 15,001.99 35.65 29,662.02 69,655.74 508,831.81 903,037.81 47,907.59 ' 803,655.99 i 1,471.94 5,481.70 i 14,055.04 I 488,258.98 408,117.27 15.38 ' 3,911.66 22,334.87 4,049.23 47,585.02 Report of State Treasurer SPECIAL FUNDS CASH BALANCES—(Continued) ealth and Hospitals: Health, State Board of: 24721—Federal Funds 24723—Bedding Fund Medical Care Commission 24821—Hospital Construction—Federal 24825—Hospital Maintenance Project .... Mental Health, Department of: 24845—Community Mental Health Fund 24846—Federal Dorothea Dix Hospital 24847— - - O'Berry Center 24848—Federal Western Carolina Center 24849—Federal _.__ , Murdock Center 24850—Federal _. Caswell Center 24851—Federal _. Broughton Hospital 24852—Federal John Umstead Hospital 24853—Federal Cherry Hospital 24854—Federal N. C. Cerebral Palsy Hospital 24875—Federal atural Resources and Recreation Conservation & Development, Dept. of: 26721—Kerr Reservoir Development Commission 26723—Mineral Interest—Special Fund _ 26725—Community Planning 26737—Operation of Executive Aircraft Wildlife Resources Commission 26741—Wildlife Resources Commission 26743—Motorboat Section 26751—Dept. of Water Resources—Federal ..- 26761—Research in Economics of Fishing Industry Miscellaneous Accounts 26781—Tennesee Valley Authority 26841—George Washington Statute Commission Cash Balance June 30, 1967 767,904.87 20,066.08 121,799.56 23,943.55 52,327.60 14,762.84 104,377.05 30,769.26 105,545.82 39,453.10 27,275.98 31,702.74 128,939.45 41,207.02 35 Cash Balance June 30, 1968 669,050.30 25,482.18 461,076.00 22,907.74 59,641.74 42,475.81 124,593.19 33,942.67 84,455.05 28,849.17 18,470.12 14,114.80 94,297.82 48,873.87 16,098.92 16,718.20 16,264.66 71,629.85 132,506.60 104,355.48 7,354.01 2,535.60 869,860.20 737,403.09 147,346.45 66,447.76 43,900.00 61,478.13 4,483.81 1,883.81 35,580.02 31,901.64 135.67 2,220.00 tl 36 Report of State Treasurer SPECIAL FUNDS CASH BALANCES—(Continued) Cash Balance Cash Balance June 30, 1967 June 30, 196?!"' Agriculture Department of Agriculture: 28721—Dept. of Agriculture 73.15 73.13 28725—N. C. Milk Commission __ 191,566.43 129,882.97 28727—State Warehouse System—Supervision 57,305.83 35,990.7S:' 28731—Cooperative Inspection Service 557,594.77 518,333.37 28735—Structural Pest Control 1,288.12 14,709.27 28739—Credit Union—Supervision 96,983.53 117,726.14 28741—N. C. State Fair 159,318.63 231,563.92:: 28745—Sheep Distribution Project 96,543.04 96,984.11 28751—Special Depository Account 147,558.79 168,311.9^' 28755—Operation of Farmers Market 24,618.25 59,406.9?': N. C. State University at Raleigh ' 28821—Agricultural Experiment Station—Federal 9,345.37 22,706.7(. 28823—Agricultural Experiment Station—Gifts 544,988.52 554,648.26 28841—Cooperative Agricultural Extension Service , Smith Lever—Federal 166,035.15 91,226.43 28861—State Soil & Water Conservation Committee ; Revolving Fund 12,500.00 7,500.00 Employment Security Commission - 30721—Administration Account 44,920.20 22,161.7S 30723—Special Unemployment Compensation — Administration 510,487.60 566,868.2(- 30725—Claims & Benefits Account 530,366.78 593,179.2! «f 30727—Clearing Account 71,696.91 62,903.7(, 30729—Unemployment Compensation—Federal Employees Benefits Account 19,333.00 30733—Temporary Extended Compensation 51.00 10.2i 30735—Manpower Development & Training Act 22,998.46 20,903. 2]| Retirement and Pensions 32781—Social Security Program 5,275,755.17 5,417,690.6(1 Debt Service Debt Service Accounts | 34761—Highway Fund Bond Redemption 5,036,000.00 5,029,000.0f; 34763—General Fund Bond Redemption 1,051,600.00 759,600.0( 34765—T. V. A.—Swain County Bond Redemption 119.04 119.0f 34821—Highway & General Fund Bond Interest 606,617.27 460,560.0(1 34823—Highway—Interest—Old Accounts 84,358.80 84,358.8( 34825—General Fund—Interest—Old Accounts 41,482.01 41,482.0] 34827—Jones County—Bond Interest 18.76 18.7( k mi GRAND TOTAL - - - $45,534,740.83 $48,071,296.1' Report of State Treasurer 37 CAPITAL IMPROVEMENT Cash Balance Cash Balance meral Government: June 30, 1967 June 30, 1968 Department of Administration 65901 Laws 1959 -.- $ " .50 $ .50 65909 Laws 1959—State Land Fund (Own Receipts) _. 70,845.32 80,319.39 65911 Laws 1959—General Service Division 2,168.14 2,168.14 66118 Laws 1961—General Service Division _. _ 21,193.34 20,727.80 66301 Laws 1963 -.- 481,023.57 297,916.04 66302 Laws 1963—General Service Division 27,616.39 27,616.39 66502 Laws 1965 825,432.72 701,172.08 66575 Laws 1965 -._. 511,327.07 326,469.42 66701 Laws 1967 - _.-. 8,974,547.43 66720 Laws 1967—Governor & Advisory Commission .._. 4,245,000.00 Legislative Building Commission 65912 Laws 1959 ._ 111,416.55 83,850.15 liblic Safety and Regulation: State Civil Defense Agency 66304 Laws 1963 .._. __.. 29,803.40 20,583.23 North Carolina Department of Motor Vehicles 66111 Laws 1961 .._ _.__ 141,579.33 66361 Laws 1963 ____ 360,259.06 310,822.69 66561 Laws 1965 ..__.. 1,041,524.68 911,054.69 66772 Laws 1967 185,593.71 iVorth Carolina Armory Commission 66303 Laws 1963 - .__. 220,495.31 236,103.17 66705 Laws 1967 _.... 25,000.00 (rrections: Stonewall Jackson Training School 66122 Laws 1961—Bond—Manual Training & Industrial School 66506 Laws 1965 66708 Laws 1967 Morrison Training School 65917 Laws 1959 66308 Laws 1963 66508 Laws 1965 66710 Laws 1967 Hastern Carolina Training School 65918 Laws 1959 65965 Laws 1959—Bond (Voted) 66309 Laws 1963 , 66711 Laws 1967 - - State Training School for Girls 65919 Laws 1959 66125 Laws 1961—Bond—Dobbs Farm 114.68 114.68 25,000.00 120,545.00 651,464.68 3.56 3.56 3,603.86 16.95 9,987.78 340,115.72 2.32 2.32 6.10 6.10 13,909.33 11,700.00 116,816.55 1,782.25 1,782.25 9,984.19 3,655.30 38 Report of State Treasurer CAPITAL IMPROVEMENT—(Continued ) Cash Balance Cash Balance June 30, 1967 June 30, 1968 66310 Laws 1963 66712 Laws 1967 - State Home & Industrial School for Girls 65916 Laws 1959 65964 Laws 1959—Bond (Voted) 66307 Laws 1963 -- 66507 Laws 1965 66709 Laws 1967 Leonard Training School 65966 Laws 1959—Bond (Voted) 66713 Laws 1967 Juvenile Evaluation & Treatment Center 65920 Laws 1959 66707 Laws 1967 - Board of Juvenile Correction 66505 Laws 1965 North Carolina Department of Corrections 65904 Laws 1959 (Own Receipts) 66112 Laws 1961 _- 66311 Laws 1963 -- 66510 Laws 1965 - 66511 Laws 1965 - 66174 Laws 1967 177.72 177.75 510,029.9^ 2,027.67 2,027.6^ 74.65 74.6S 4,581.51 4,581.51 32,255.00 255M 615,548.0C 19.71 19.7^ 44,715.41 661.72 661.72 372,611.34 1,137,601.73 246,872.4S 1 35,161.74 24,596.00 245,834.14 131,500.0( 355,952.82 480,455.13 1,299,819.68 l,286,082.3fl! 499,403.12 492,959.67j 4,154,175.00 Public Welfare: State Commission for the Blind 65967 Laws 1959—Bond (Voted) Rehabilitation Center 3,730.11 3,730.11 66312 Laws 1963 50.00 50.0fl 66512 Laws 1965 53,883.14 69,309.11 Education: School Plant Construction and Improvement 66399 Laws 1953 90,960.87 76,586.3^ Industrial Education Centers Equipment 65968 Laws 1959—Bond (Voted) .35 Vocational Textile School 65969 1959—Bond (Voted) 21.89 21. Public School Facilities Fund 66399 Laws 1963—Bond (Voted) 49,605,787.52 31,195,036.2 Vocational Education Act 1963 I 66337 Laws 1963—Construction .._ 782,519.53 275,988.05 66339 Laws 1963 24,360.65 11,227.21] Department of Community Colleges i 66530 Laws 1965 - - 1,049,151.84 475,341. 92J Report of State Treasurer 39 CAPITAL IIVIPROVEMENT—(Continued) 66583 Laws 1965 - 66738 Laws 1967 University of North Carolina at Chapel Hill 65925 Laws 1959 _... 65926 Laws 1959—Division of Health Affairs 65970 Laws 1959—Bond (Voted) 65971 Laws 1959—Bond (Voted)—Division of Health Affairs 66115 Laws 1961—Enterprises—(Own Receipts) 66127 Laws 1961—Bond—Division of Health Affairs 66128 Laws 1961—Bond—Academic Affairs 66313 Laws 1963—UNC Consolidated _ ._ 66314 Laws 1963—UNC—Chapel Hill 66375 Laws 1963—Bond—Health Affairs 66376 Laws 1963—Bond—Academic Affairs - -.- 66514 Laws 1965—Division of Health Affairs 66515 Laws 1965—Academic Affairs .— ._ 66565 Laws 1965—University Interprises 66566 Laws 1965 - _. 66567 Laws 1965—Overhead Receipts 66576 Laws 1965—Health Affairs 66577 Laws 1965—Academic Affairs __.. 66585 Laws 1965 66721 Laws 1967—UNC (Consolidated) 66722 Laws 1967—UNC Health Affairs 66723 Laws 1967—UNC Academic Affairs North Carolina State University at Raleigh 65927 Laws 1959 65972 Laws 1959- Bond (Voted) 66129 Laws 1961—Bond -. 66315 Laws 1963 66377 Laws 1963—Bond _ _ 66516 Laws 1965 - 66578 Laws 1959 66724 Laws 1967 University of North Carolina at Greensboro 66130 Laws 1961—Bond 66316 Laws 1963—Bond 66378 Laws 1963—Bond 66517 Laws 1965 .- 66725 Laws 1967 University of North Carolina at Charlotte 66327 Laws 1963 66518 Laws 1965 _. 66726 Laws 1967 -. Cash Balance June 30, 1967 1,576,318.72 3,030.03 21,568.64 4,717.75 3,584.56 12.13 12,551.27 86,079.43 441,782.48 2,168,134.13 1,775,407.32 30,533.60 6,089,726.02 718,773.20 173,430.70 648,152.48 785,228.00 2,596,073.02 44,299.98 2,000.68 7,987.91 57,872.18 1,625,085.53 632,211.99 469,693.97 2,224,589.27 4,079.42 339,301.41 55,433.36 2,288,642.93 177,458.89 1,014,220.75 Cash Balance June 30, 1968 302,505.12 1,517,383.71 20,426.20 994.76 3,584.56 12.13 12,551.27 2,348.61 75,836.73 1,163,864.35 153,977.12 24,936.04 5,457,133.83 408,463.00 51,335.23 135,000.00 45,070.97 433,960.66 1,404,122.79 37,760.34 2,036,000.00 746,000.00 8,984,348.98 1,622.70 7,980.02 17,131.46 804,146.01 82,075.49 126,502.97 2,061,368.57 10,928,714.47 227.42 337,971.20 6,130.12 1,569,262.64 6,680,203.70 47,475.87 678,295.82 9,712,923.27 40 Report of State Treasurer CAPITAL IMl'KO\ EMENT—( Continued ) Cash Balance Cash Balance June 30, 1967 June 30, 1968 Department of Archives & History 66141 Laws 1961—Bond 6,488.42 5,594.92 66335 Laws 1963 2,481,157.01 937,011.62 66534 Laws 1965 100,159.26 64,300.36 66743 Laws 1967 - - 430,551.09 Elizabeth City State College 65935 Laws 1959 __... 59,954.00 59,954.00 65980 Laws 1959—Bond (Voted) 5,214.26 5,214.26 66137 Laws 1961 -- 6,359.59 6,359.59 66324 Laws 1963 -_.. 286,165.02 361,934.71 66385 Laws 1963—Bond 5,116.28 1,884.53 66525 Laws 1965 - 642,643.92 165,604.64 66733 Laws 1967 264,003.10 Western Carolina University 65931 Laws 1959 _ .__. .._._. ._. 2,000.00 2,000.00 65976 Laws 1959—Bond (Voted) 3,430.70 2,737.36 66133 Laws 1961—Bond _ __._._ 28,203.81 12,721.74 66319 Laws 1963 168,851.59 19,458.62 66381 Laws 1963—Bond .___ 301,332.37 114,393.49 66521 Laws 1965 ...- 1,700,638.74 1,536,848.21 66580 Laws 1965 _.. 25,212.51 24,818.39 66729 Laws 1967 - -. 2,141,730.23 Payetteville State Teachers College 66138 Laws 1961—Bond 665.52 665.52 66323 Laws 1963 123,261.06 50,406.42 66384 Laws 1963—Bond 77,848.43 15,956.26 66526 Laws 1965 - 314,101.37 152,865.02 66734 Laws 1967 --.. 664,184.84 North Carolina School of the Arts 66535 Laws 1965 27,670.00 66742 Laws 1967 1,202,320.00 North Carolina Board of Science & Technology 66336 Laws 1963 2,883.99 4,441.46 East Carolina University 65974 Laws 1959—Bond (Voted) 10,477.75 9,078.62 66317 Laws 1963 140,756.37 13,870.79 66379 Laws 1963—Bond 141,102.95 136,705.17 66519 Laws 1965 2,067,566.32 1,570,659.95 66579 Laws 1965 -_ 1,821,819.69 1.571,234.30 66727 Laws 1967 - 3,946,308.16 "Winston-Salem State College 65934 Laws 1959 , 23,196.53 23,196.53 66136 Laws 1961—Bond -- -- 6,683.16 4,682.66 66322 Laws 1963 120,054.71 70,423.72 66383 Laws 1963—Bond _ 7,275.17 7,275.17 Report of State Treasurer 41 CAPITAL IMPROVEMENT—(Continued) Cash Balance Cash Balance June 30, 1967 June 30, 1968 66524 Laws 1965 293,982.24 136,111.62 66732 Laws 1967 - 738,049.64 Appalachian State University 65932 Laws 1959 5,505.52 5,505.52 65977 Laws 1959—Bond (Voted) 106,824.61 106,824.61 66134 Laws 1961—Bond ._.. 10,517.00 43.13 66320 Laws 1963 389,387.65 49,495.94 66382 Laws 1963—Bond - - - 484,286.94 88,497.95 66522 Laws 1965 597,261.35 111,018.95 66581 Laws 1965 2,295,101.13 883,142.71 66730 Laws 1967 - -- 2,560,174.14 Pembroke State College 65933 Laws 1959 3,031.61 3,031.61 65978 Laws 1959—Bond (Voted) 2,718.99 2,718.99 66135 Laws 1961—Bond 1,486.69 1,486.69 66321 Laws 1963 21,330.22 21,330.22 66523 Laws 1965 -- 66,366.06 19,584.96 66582 Laws 1965 - 392,249.21 33,181.01 66731 Laws 1967 -- - 379,365.49 Asheville-Biltmore College 66326 Laws 1963 29,611.95 577.64 66528 Laws 1965 11,308.59 39.84 66736 Laws 1967 -- 1,973.743.70 Wilmington College 66328 Laws 1963 2,418.21 800.71 66529 Laws 1965 - 1,535,513.10 523,962.09 66737 Laws 1967 -- 1,483,968.94 College of the Albemarle 66329 Laws 1963 - -- 1,402.12 1,402.12 Mecklenburg College 66330 Laws 1963 255,000.00 25,500.00 North Carolina Agricultural & Technical State University 65930 Laws 1959 ._ 416.88 416.88 65975 Laws 1959—Bond (Voted) .__. 8,565.80 8,565.80 66132 Laws 1961—Bond -.. _._. 16,502.55 16,502.55 66318 Laws 1963 „ 11,665.42 11,665.42 66380 Laws 1963—Bond 624,805.31 209,019.21 66520 Laws 1965 ___. 204,424.28 145,293.86 66728 Laws 1967 1,130,989.85 North Carolina College at Durham 65937 Laws 1959 22,297.97 4,879.17 66139 Laws 1961—Bond 22,938.32 10,671.22 66325 Laws 1963 726,954.55 13,159.61 66386 Laws 1963—Bond 704.37 704.37 303,627.73 470,832.58 495,368.98 8,510.81 8,510.81 47,114.28 45,831.04 157,914.87 125,497.64 125,497.64 842,123.30 217,633.77 1,683,826.10 10,144.68 10,144.68 2,946.53 10.72 227,171.31 4,199.60 1,524,020.20 42 Report of State Treasurer CAPITAL IMPROVEMENT—(Continued) Cash Balance Cash Balance June 30, 1967 June 30, 1968 66527 Laws 1965 66735 Laws 1967 -- The Governor Morehead School 66332 Laws 1963 66531 Laws 1965 ._. 66739 Laws 1967 ..__ Eastern North Carolina School for the Deaf 66333 Laws 1963 66532 Laws 1965 66740 Laws 1967 North Carolina School for the Deaf 65938 Laws 1959 66334 Laws 1963 66533 Laws 1965 66741 Laws 1967 North Carolina Museum of Art 66744 Laws 1967 53,892.10 Highways: State Highway Commission 66562 Laws 1965 12,924.83 Non-Highway Transportation: State Ports Authority 65945 Laws 1959 97,923.42 66338 Laws 1963 119,818.26 65,631.55 66540 Laws 1965 ...- 89,783.38 66584 Laws 1965 1,159,842.48 131,112.96 66750 Laws 1967 4,081,653 Health and Hospitals: Dorothea Dix Hospital 66145 Laws 1961—Bond 1,037.47 66341 Laws 1963 429,687.24 167,882.52 66541 Laws 1965 208,875.86 218,895.43 66752 Laws 1967 2,079,970.33 Broughton Hospital 65952 Laws 1959 1,497.46 66146 Laws 1961—Bond 4,187.37 4,187.37 66342 Laws 1963 74,102.54 94,025.08 66542 Laws 1965 599.31 599.3lj 66753 Laws 1967 1,764,332.411 Cherry Hospital 65988 Laws 1959—Bond (Voted) 8,599.20 8,599.201 66147 Laws 1961—Bond 28,010.63 23,679.60 66343 Laws 1963 ..- 141,708.50 107,202.43 Report op State Treasurer 43 CAPITAL IMPROVEMENT—( Continued ) 66544 Laws 1965 - - . 66755 Laws 1967 - John Umstead Hospital 66345 Laws 1963 66387 Laws 1963 66546 Laws 1965 -- 65990 Laws 1959 66149 Laws 1961 _. 66554 Laws 1965—Alcoholic Rehabilitation Center -..._ 2,698,756.79 66757 Laws 1967 -- North Carolina Sanatorium 66549 Laws 1965 Eastern North Carolina Sanatorium 66349 Laws 1963— (Own Receipts) North Carolina Cerebral Palsy Hospital 65955 Laws 1959 ....- 66551 Laws 1965 Caswell Center 66150 Laws 1961—Bond _.. 66347 Laws 1963 - -- 66548 Laws 1965 - 66759 Laws 1967 - Murdoch Center 65991 Laws 1959—Bond (Voted) 66346 Laws 1963 66547 Laws 1965 - 66758 Laws 1967 - - Western Carolina Center 65993 Laws 1959—Bond (Voted) -.. 66543 Laws 1965 - .- 66754 Laws 1967 O'Berry Center 65989 Laws 1959—Bond (Voted) 66148 Laws 1961—Bond 66344 Laws 1963 66545 Laws 1965 - 66756 Laws 1967 North Carolina Orthopedic Hospital 66151 Laws 1961—Bond 66348 Laws 1963 66550 Laws 1965 Western North Carolina Sanatorium 66760 Laws 1967 _.. Medical Care Commission 66340 Laws 1963 ash Balance Cash Balance line 30, 1967 June 30, 1968 417,699.09 73,416.06 2,458,772.05 50,334.78 39,133.09 21,461.40 467.97 726,310.26 673,970.49 128.44 128.44 268,766.23 92,643.34 1,807,901.84 2,304,431.77 60,337.05 1,600.17 2,717.56 2,717.56 197.61 197.61 3,516.67 3,516.67 1,284.00 1,284.00 604,622.12 604,340.83 223,661.25 47,033.48 546,759.98 84,381.44 76,506.53 129,548.40 109,348.38 26,323.12 17,021.21 260,399.27 13,170.35 7,094.74 1,791,764.02 564,574.04 1,633,000.00 2,284.86 1,765.74 249,91 249.91 123,070.06 149,163.77 177,000.00 963,417.98 1,690.00 1,690.00 10,401.85 10,401.85 1,670.64 1,670.64 135,000.00 813,296.68 475,580.03 44 Report of State Treasurer CAPITAL IMPROVEMENT—( Continued ) Cash Balance Cash Balance June 30, 1967 June 30, 1968 66552 Laws 1965 213,155.00 213,155.00 66751 Laws 1967 -- -- - 2,100,000.00 Natural Resources and Recreation: Department of Conservation & Development 65958 Laws 1959 -.- 65,886.39 44,809.65 65959 Laws 1959—Kerr Reservoir Development Commission 61.68 61.68 66106 Laws 1961—Kerr Reservoir Development Commission 2,304.97 422.02 66350 Laws 1963 - 379,476.23 311,374.50 66351 Laws 1963 16,207.85 8,936.05 66555 Laws 1965 526,985.55 367,628.63 66556 Laws 1965 19.19 10.60 66353 Laws 1963—Restoration of Tryon Palace (Own Receipts) 5,835.66 2,342.30 66765 Laws 1967 878,573.64 66766 Laws 1967—Kerr Reservoir Development Commission 143,500.00 Department of Administration 66107 Laws 1961—Fort Raleigh National Historic Site 34,896.13 9,762.72 66117 Laws 1961—Wright Memorial Park Air Strip ... 6,927.48 6,680.25 "Wildlife Resources Commission 66116 Laws 1961—Own Receipts 47,703.88 39,716.75 66367 Laws 1963—Own Receipts 4,193.00 2,728.36 66570 Laws 1965 81,530.71 113,240.36 66775 Laws 1967 318,327.89 Department of Water and Air Resources 65960 Laws 1959 47,571.27 47,897.47 66352 Laws 1963 ...- 295,194.59 249,590.58 66767 Laws 1967 727,000.00 Agriculture: Department of Agriculture 65961 Laws 1959 367.60 367.60 66108 Laws 1961 .33 .33 66354 Laws 1963 19,040.63 3,547.11 66558 Laws 1965 49,158.57 35,239.41 66770 Laws 1967 459,030.45 North Carolina State University—Experiment Station 66355 Laws 1963 2,746.49 1,398.77 66559 Laws 1965 919,335.01 171,712.98 65994 Laws 1959—Voted 70.69 70.69 66771 Laws 1967 1,277,940.88 Bond and Note Sales—Premium & Accrued Interest 287,839.47 TOTAL ...-_ .$119,370,854.63 $174,697,993.31 Report of State Treasurer bonded indebtedness 45 GENERAL FUND Capital Improvements State Ports Facilities (Note 2). Public School Facilities Date Average Balance of Interest Outstanding Issue Cost June 30, 1967 June 30, 1968 (Note 1) . 7-1-53 2.305% $ 8,550,000 $ 7,950,000 12-1-53 2.308 3,875,000 3,260,000 4-1-55 1.964 5,500,000 5,000,000 5-1-59 3.245 2,000,000 1,850,000 11-1-59 3.291 7,400,000 6,900,000 5-1-60 3.014 6,800,000 6,300,000 11-1-60 2.860 8,100,000 7,700,000 8-1-61 2.976 13,000,000 12,200,000 10-1-63 2.834 20,400,000 19,800,000 3-1-66 3.249 16,220,000 15,720,000 $ 91,845,000 $ 86,680,000 10-1-50 1.413% 1.413% $ 1,020,000 $ 690,000 10-1-50 3,420,000 2,300,000 12-1-53 2.038 7,075,000 5,950,000 10-1-54 1.684 1,925,000 1,650,000 11-1-57 2.393 6,300,000 5,900,000 5-1-58 2.750 10,700,000 10,100,000 9-1-65 3.000 24,000,000 23,500,000 3-1-66 3.473 35,000,000 34,300,000 3-1-67 3.416 40,000,000 39,000,000 $128,420,000 $122,700,000 46 Report of State Treasurer BONDED INDEBTEDNESS—(Continued) Sinking Fund Bonds (Note 3) 4-1-30 Total General Fund Date Average Balance of Interest Outstanding Issue Cost June 30, 1967 June 30, 1968 (Notel) 4.250 % $ 1,250,000 $ 200,000 -1-31 4.000 4,244,000 $ 5,494,000 $226,779,000 $ 200,000 $210,270,000 HIGHWAY FUND Secondary Road Bonds (Note 4)___ ._ 7-1-49 1.577% $ 4,200,000 $ 4,200,000 '.. 1-1-50 1.577 8,650,000 4,400,000 1-1-51 1.944 23,150,000 15,600,000 1 $ 36,000,000 $ 24,200,000 j Highway Bonds __ 2-1-67 3.204% $ 60,000,000 $ 45,000,000 ;, 8-1-67 3.686 60,000,000 ' $ 60,000,000 $ 96,000,000 $322,779,000 $105,000,000 $129,200,000 $339,470,000 Total Highway Fund Total Bonded Indebtedness (Note 5) NOTES: (1) July 1st maturities shown as retirements in previous year—the year in which funds were appropriated. (2) The net earnings of the Ports Authority, after certain reservations for operating capital and enlargements, are to be credited to the State Ports Bond Sinking Fund for the payment of both principal and interest. (3) Payable from funds set aside under Sinking Fund Act of 1945 from State's accumu-lated General Fund Surplus ($51,585,079) to provide for the payment of the General fund bonded indebtedness outstanding at that time. (4) The Highway Fund Bonds have a 1<^ per gallon gasoline tax pledged exclusively to pay both principal and interest. (5) Not included in this figure are $180,000,000 Highway Construction Bonds authorized and unissued. Report of State Treasurer 47 STATE OF NORTH CAROLINA ANNUAL DEBT REQUIREMENTS From July 1 , 1 968 (July 1, maturities of principal and interest are Included in preceding fiscal years) GENERAL FUND BONDS Payable from Sinking Fund Payable from Revenue Fiscal Principal Principal Principal Principal Year & Interest & Interest 1968-69 $ 50,000 $ 58,500 $ 11,480,000 % 17,773,448 1969-70 50,000 56,375 11,780,000 17,774,222 1970-71 50,000 54,250 12,080,000 17,757,503 1971-72 50,000 52,125 12,365,000 17,711,260 1972-73 12,870,000 17,876,030 1973-74 13,125,000 17,776,352 1974-75 13,500,000 17,778,690 1975-76 13,970,000 17,794,615 1976-77 14,300,000 17,703,000 1977-78 14,900,000 17,849,450 1978-79 15,400,000 17,869,000 1979-80 15,800,000 17,766,550 1980-81 16,300,000 17,816,450 1981-82 13,500,000 14,511,550 1982-83 6,300,000 6,892,250 1983-84 5,200,000 5,595,500 1984-85 5,200,000 5,415,250 1985-86 2,000,000 2,035,000 1986-87 1987-88 $200,000 $221,250 $210,070,000 $265,696,120 48 Report of State Treasurer STATE OF NORTH CAROLINA ANNUAL DEBT REQUIREMENTS From July 1, 1968 (July 1, maturities of principal and interest are included in preceding fiscal years) HIGHWAY FUND BONDS Highway Bonds of 1965 Secondary Road Bonds Principal Principal Principal Principal Fiscal d Interest d Interest Year $ 15,000,000 $ 18,507,000 $12,000,000 $12,368,250 1968-69 7,000,000 10,007,000 12,200,000 12,386,250 1969-70 5,000,000 7,787,000 1970-71 5,000,000 7,607,000 1971-72 5,000,000 7,433,000 1972-73 5,000,000 7,264,500 1973-74 5,000,000 7,097,500 1974-75 5,000,000 6,930,500 1975-76 5,000,000 6,763,500 1976-77 5,000,000 6,595,000 1977-78 5,000,000 6,425,000 1978-79 4,000,000 5,273,000 1979-80 4,000,000 5,137,000 1980-81 4,000,000 4,999,500 1981-82 4,000,000 4,860,500 1982-83 5,000,000 5,721,500 1983-84 5,000,000 5,550,500 1984-85 5,000,000 5,379,500 1985-86 5,000,000 5,208.500 1986-87 2,000,000 2,037,500 1987-88 $105,000,000 $136,584,500 $24,200,000 $24,754,500 NOTE: $60,000,000 Highway Bond Anticipation Notes due July 31, 1969 not shown above. Report of State Treasurer 49 statement op securities held in trust Par Value Par Value June 30, 1967 June 30, 1968 ESCRIPTION E3CURITIES HELD IN SAFEKEEPING Atlantic & East Carolina Railroad ._. $ 50,000.00 $ 50,000.00 Atlantic & North Carolina Railroad Company 78,300.00 78,300.00 Dorothea Dix Hospital—Patients Fund -__ ._ ..._ 61,000.00 81,000.00 General Fund Bonds—Sinking Fund of 1945 5,279,000.00 277,000.00 Law Enforcement Officers' Benefit & Retirement Fund .. 36,813,000.00 40,336,500.00 Local Governmental Employees Retirement System: Bonds & Notes - -- 77,619,000.00 90,827,000.00 Common Stock—at cost .__ 4,725,214.88 5,844,115.18 Medical Care Commission 871,086.95 1,079,144.56 North Carolina Department of Agriculture: Cooperative Inspection _. 40,000.00 40,000.00 State Warehouse System 643,735.49 705,731.01 North Carolina Department of Insurance — Workmen's Comp. Security .__.__ 1,166,000.00 1,166,000.00 Public School Insurance Fund 3,350,000.00 3,750,000.00 State Board of Education: Literary Loan Fund -_ _ 3,739,400.00 3,050,205.00 Rodman Trust Fund 45,311.42 80,780.70 Prospective Teachers Loan Fund 3,097,195.27 3,415,715.14 State Property Fire Insurance Fund -- 3,700,000.00 3,800,000.00 Teachers & State Employees' Retirement System: Bonds & Notes .- 545,883,862.35 630,480,084.50 Common Stockfe-at cost -.... 42,526,931.33 52,597,034.33 North Carolina Firemen's Pension Fund 1,750,000.00 2,400,000.00 North Carolina Education Assistance Authority 300,000.00 706,000.00 $731,739,037.69 $840,764,610.42 50 Report of State Treasurer STATEMENT OF SECURITIES HELD IN TRUST—(Continued) Par Value Par Value June 30, 1967 June 30, 1968 SECURITIES HELD AS GOOD FAITH DEPOSITS: North Carolina Department of Agriculture $ 9,175.00 $ 8,675.00 North Carolina Department of Insurance 34,896,720.00 36,568,700.00 North Carolina Department of Motor Vehicles 100.00 100.00 North Carolina Department of Revenue 418,911.00 398,911.00 North Carolina Industrial Commission 1,011,000.00 966,000.00 $ 36,335,906.00 $ 37,942,386.00 SECURITIES OWNED BY THE STATE: (Other than temporary investments of Treasurer's cash balances) North Carolina Railroad Company (30,002 Shares) $ 3,000,200.00 $ 3,000,200.00j Atlantic & North Carolina Railroad Company (12,666 Shares) .._. __. 1,266,600.00 1,266,600.00 South Atlantic Transcontinental Railroad Company (172 Shares) _ 17,200.00 17,200.00! Statesville Airline Railroad Company (2,648 Shares) -.. 132,400.00 132,400.00 Elkins & Alleghany Railroad Company (4,060 Shares) ..„ 406,000.00 406,000.00 The Mattamuskeet Railroad Company (997.65 Shares) „ 99,765.00 99,765.00 The W. & Y. Railroad Company (552 Shares) 55,200.00 55,200.00 The W. & J. Turnpike Company (6,381 Shares) 63,810.00 63,810.00 Junaluska Turnpike Company (70.50 Shares) 705.00 705.00 $ 5,041,880.00 $ 5,041,880.00 ^m- Report of State Treasurer 51 general. fund statement op revenues and expenditures (As Prepared from Records of Director of Budget) Years Ended June 30, 1967 and 1968 REVENUES: 1967 • 1968 Income Taxes: Individuals $188,561,766 $216,546,972 Domestic Corporations 49,906,936 47,286,992 Foreign Corporations 46,338,845 47,358,857 $284,807,547 $311,192,821 Sales taxes __ 201,641,570 216,173,811 Franchise taxes 45,725,033 51,674,292 Bevarage taxes 25,677,593 22,666,347 Inheritance taxes 12,144,523 14,165,345 Licenses 8,281,605 7,802,359 Gift taxes 1,086,156 867,733 Insurance taxes 22,076,520 23,928,805 Bank excise taxes 1,594,844 1,767,962 Savings and loan taxes 1,920,247 1,965,940 Freight cars 109,021 132,160 Miscellaneous 140,301 145,017 Total Under Revenue Act 605,204,960 652,482,592 Non-tax revenues: Income from Treasurer's Investments 12,337,612 19,266,180 Gasoline & oil inspection fees 1,287,387 1,466,988 Other 4,879,520 5,983,168 Total Revenues 623,709,479 679,198,928 EXPENDITURES: General government - 19,823,754 19,455,501 Public safety and regulations 4,372,028 4,870,232 Correction 18,611,548 21,585,245 Public Welfare 18,556,033 20,081,606 Education 374,744,151 421,971,697 Non-highway transportation 203,561 208,396 Health and hospitals 49,371,675 56,826,123 Natural resources and recreation 5,893,274 6,725,079 Agriculture 10,863,119 12,003,018 Retirement and pensions 46,641,637 62,747,783 Debt service 16,114,637 17,517,958 Capital improvement 112,356,788 Total Expenditures 565,195,417 756,349,426 Excess revenue or (expenditures) 58,514,062 (77,150,498) Cash balance at beginning of year 114,166,250 172,680,312 Cash balance at end of year $172,680,312 $ 95,529,814 52 Report of State Treasurer highway funds statement of revenues and expenditures (As Prepared from Records of Director of Budget) Years Ended June 30, 1967 and 1968 REVENUES: State Revenues: 1967 1968 Gasoline gallon tax $119,615,164 $125,038,346 Gasoline gallon tax-highway usage __. 913,004 926,085 Gasoline gallon tax-one cent debt service 20,899,023 21,948,400 Bus and franchise taxes 8,065,155 8,650,985 Motor Vehicle registrations 38,411,640 40,322,735 Gasoline inspection fees - 5,118,904 5,345,550 Title fees ..._ _ 1,788,230 1,825,267 Penalties 731,343 757,892 Miscellaneous 170,895 194,344 195,713,358 205,009,604 Interest on Treasurer's Investments — 5,841,357 9,420,810 Total State Revenues 201,554,715 214,430,414 Federal aid participation 60,380,359 60,242,608 Cities and towns participation 1,083,215 1,064,202 Property owners participation 591,612 864,438 Total Revenues 263,609,901 276,601,662 EXPENDITURES: Public safety and regulation 16,051,977 19,283,888 Education 2,054,174 2,044,389 Highways 200,429,342 217,852,350 Retirements and pensions 6,387,005 7,211,067 Debt service 13,581,875 31,459,768 Total Expenditures 238,504,373 277,851,462 Excess revenue or (expenditures) 25,105,528 (1,249,800) Cash balance at beginning of year 70,695,831 95,801,359 Cash balance at end of year ....,,,,,,„,,.,,,,,„,_ $ 95,801,359 $ 94,551,559 Report of State Treasurer earnings from treasurer's investments 5S Year Ending Fund Credited Total June 30th General Fund Highway Fund Earning 1949 $ 355,718.70 $ 355,718.70 1950 1,565,364.60 1,565,364.60 1951 3,182,816.43 3,711,530.66 3,182,816.43 1952 3,711,530.66 1953 3,383,700.58 2,800,431.54 3,383,700.58 1954 2,800,431.54 1955 2,069,387.66 2,069,387.66 1956 2,074,700.74 2,074,700.74 1957 3,124,660.97 4,064,535.14 3,361,305.61 3,124,660.97 1958 4,064,535.14 1959 3,361,305.61 1960 5,114,916.67 6,906,905.93 4,802,526.98 5,114,916.67 1961 6,906,905.93 1962 1,907,372.57 6,709,899.55 1963 5,161,898.74 1,733,738.33 6,895,637.07 1964 6,003,139.25 1,968,852.60 7,971,991.85 1965 7,907,545.37 3,151,908.73 11,059,454.10 1966 10,322,712.66 3,708,759.07 14,031,471.73 1967 12,337,612.18 5,841,357.27 18,178,969.45 1968 19,266,179.59 9,420,810.33 28,686,989.92 Totals $107,517,590.00 $ 27,732,798.90 $135,250,388.90 54 Report of State Treasurer secondary road bond reserve of highway funds Year Ending Receipts from Debt Fund June 30th 1^ Gas Tax Requirements Balance 1950 $ 3,932,540 $ 673,041 $ 3,259,499 1951 9,508,062 8,319,250 4,448,311 1952 10,036,362 9,594,625 4,890,048 1953 10,824,684 8,935,250 6,779,482 1954 11,118,979 12,645,750 5,252,711 1955 11,742,992 12,472,063 4,523,640 1956 12,748,401 12,291,375 4,980,666 1957 13,289,465 12,158,313 6,111,818 1958 13,427,098 12,174,250 7,364,666 1959 14,203,998 12,238,000 9,330,664 1960 14,781,505 12,249,563 11,862,606 1961 15,531,212 12,259,250 15,134,568 1962 16,106,413 12,316,750 18,924,321 1963 16,800,103 12,312,063 23,412,271 1964 17,534,904 12,355,188 28,591,987 1965 18,484,491 12,386,750 34,689,728 1966 19,595,137 12,356,875 41,927,990 1967 7,586,573* 12,381,875 37,132,688 1968 12,378,188 24,754,500 1969 12,368,250 12,386,250 1970 12,386,250 HIGHWAY BOND RESERVE OF HIGHWAY FUNDS 1967 13,312,450 13,312,450 1968 21,948,400 17,054,000 16,206,850 1969 18,507,000 *Amount necessary together with the fund balance to provide for the re-tirement of the bonds outstanding. (The remaining proceeds of the tax levy for the fiscal year 1967 and subsequent years are similarly earmarked to service the new highway bonds which were authorized in 1965). Report of State Treasurer interest rates on certificates of deposit 55 Effective Date Rate Effective Date Rate October 6, 1953 1.75% January 16, 1961 2.50% February 4, 1954 1.50 December 12, 1961 3.00 November 19, 1954 1.25 July 5, 1963 3.25 March 2, 1955 1.50 July 18, 1963 3.50 April 16, 1955 1.75 November 27, 1963 3.75 August 9, 1955 2.00 November 30, 1964 4.00 September 9, 1955 2.25 September 25, 1965 4.20 November 29, 1955 2.50 December 7, 1965 4.50 October 1, 1956 NA January 6, 1966 4.75 January 3, 1958 3.00 July 14, 1966 5.00 January 27, 1958 2.625 August 24, 1966 5.50 February 17, 1958 2.00 December 20, 1966 5.125 April 9, 1958 1.50 January 18, 1967 4.875 June 17, 1958 1.25 March 12, 1967 4.50 August 8, 1958 1.625 March 24, 1967 4.25 August 15, 1958 2.00 April 27, 1967 4.00 August 27, 1958 2.50 July 21, 1967 4.75 September 16, 1958 2.75 September 27, 1967 5.125 December 12, 1958 3.00 November 27, 1967 5.50 June 5, 1959 NA February 6, 1968 5.25 April 5, 1960 3.00 March 19, 1968 5.50 April 13, 1960 NA April 23, 1968 5.75 May 13, 1960 3.00 May 23, 1968 6.00 August 10, 1960 2.50 June 24, 1968 5.75 September 21, 1960 2.75 NA—Indicates period during which the current interest rate on U. S. Treas-ury obligations exceeded the rate of interest banks were permitted to pay on certificates of deposit by the Federal Reserve and F.D.I.C. (G. S. 147-69.1) 56 Report of State Treasurer OBJECTIVES All State funds constitute a trust in the hands of the Treasurer for the benefit of the people of North Carolina. It is the duty of the Treasurer to make certain that such trust is kept accord-ing to law. It is the duty of the Treasurer : (a) To manage the monetary assets of the State in an ef-ficient and business-like manner; (b) To finance the State's debt at the lowest possible interest cost; (c) To lend the facilities and talents of his office to the fis-cal problems of other State agencies and institutions ; and (d) To advise and assist local government officials to attain better and more efficient financial management of all re-sources in their communities. FUNCTIONS The Treasurer serves as the official depository for all funds belonging to the State. Pending the lawful expenditure of monies collected, the Treasurer serves as an investor. The Treasurer also serves as safekeeping agent for State depart-ments, fiscal consultant, trustee to bondholders and manager of the State debt. As Director of Local Government, he is re-sponsible for administration of local units' long-term debt, and advising local officials and independent auditors of ways and means to attain higher standards of accounting, financial re-porting and auditing. PROGRAMS In the management of the cash funds of the State, the Treas-urer follows these procedures: (a) Designates the bank depositories for use by the agencies and institutions receiving monies belonging to the State and maintains records of depository bank accounts ; (b) Acts as paying agent for the expenditure of funds as authorized by the Director of the Budget ; Report of State Treasurer 57 (c) Maintains records on cash basis of General Ledger ac-counts ; (d) Maintains records of escrow securities for State deposits; (e) Invests all funds not immediately needed ; (f) Acts as investment officer for all trust funds on deposit with the State Treasurer. In the administration of the State's bonded indebtedness pro-gram the Treasurer follows these procedures: (a) Serves as issuing officer for the State when issuing bonds pledging the faith and credit of the State ; (b) Serves as paying agent for the maturing bond principal and interest applicable to all bonds previously issued and outstanding ; (c) Maintains books and records reflecting current status of all bonds outstanding. The Treasurer lends the facilities and talents of his office to provide fiscal assistance to other State agencies and institutions : 1. By provision of Constitution: (a) Council of State (member) (b) Board of Education (member) 2. By act of the General Assembly (a) Banking Commission (Chairman) (b) Local Government Commission (Chairman) (c) Tax Review Board (Chairman) (d) Retirement System for Teachers and State Employees (Chairman) (e) Retirement System for Local Government Employees (Chairman) (f) Retirement System for Law Enforcement Officers (member) 58 Report of State Treasurer As Director of Local Government, the Treasurer follows these procedures : 1. In the administration of local government bonded indebted-ness program, the Treasurer, acting as Director of Local Government, follows these procedures: (a) Studies applications for approval of proposed bonds, and approves, recommends changes, or rejects such applications; (b) Prepares announcements of bond sales containing fi-nancial statements and other data of prime interest to prospective investors in the bonds ; (c) Conducts the sale and makes delivery of the bonds; and (d) Maintains debt ledgers and informs local officials semi-annually of principal and interest payments com-ing due. 2. In the accounting advisory area of service, the Director of Local Government follows these procedures: (a) Approves audit contracts; (b) Receives, reviews and files audit reports ; (c) Approves bills for audit fees; (d) Publishes data useful to local accountants and their independent auditors for better conformity with gen-erally accepted standards and principles of accounting, auditing and reporting; and (e) Upon request of local officials, offers advice to unit accountants and their independent auditors in solving accounting system problems. Report of State Treasurer 59 wW « r/j o O n M O Hi A U M pj U P o < IS H W tf i^:; <! pM H H ni H liJ O ^ <! H U ^ o Ul (J CL, H :2; H Q <! Q H tf PH Q •z w fc >< w tf o fe W fa <! w O H<1 '4, H >^ CB < fa Oh O CO 03 ->! m n H Ouo ^ <; o tf rn M Q o tf « o w o hJ <1 ?^ « fa 2; 2: fa o oj fa ^ o >^ A oH w 5QS Q H o m fa « fa o o fa 03 o o 00 o CM fa w U fa fa n H <) m H U r/3 n tf cj (J fa fa tf r/3 ^ fa < H H tf :<i P <j fa y m (H .J 01 «2 Q 2; o p &H fa S fa w H H «s1 HM fa fa > P zM, Q >* (« •al fa H H fa < 2 OS fa 1 O fa o < fa S <5 m fa E-i h* P faS s s H is Ul O fa c^ PJ fa o f/1 o Q Z, P H fa fa Eh r/3 S P 1 H tf w H fa > CcJ z O fa 60 Report of State Treasurer H J< H Ul CQ r^ W 2 u n ;d << n H z o fc u O tf UU Pn Tti H fe (-1 o H r>i H r, <H ti W fe u J Ul n tf fe o O H r Z , O CQ Eh S E^ H S !^ P SS tf n W ^ H YING AG TURING D INTER ;^ fc •<<7r. S o fe S Hm m H W HH CQ tf W W <J is H H o ;^ en H-1 H H ^r' <ij m r/3 H •^ r« r« f— < w O n fe Q ^ o m ^ ^ 9 H ^ Q H J M Q P Z 05 O Eh pq Report of State Treasurer 61 fc I ^ H -2 ^ H H g H *< ^ H t3 fc K Q ° fe "^ ^; o fc 2 J ° m o o S Z 1^ Pi o 2 £ o m m -5 rt :° g 2 cd ^ S m <J " Xo w o z" O E-i| > OO oo oz < o H J z o <^ ^ "!< ^ [il mo mS H t^ a f5 >< '^ Qi SoHg r/3 Q o z o <1 Q oH « m o t) o y o 1« o t. Eh HO < m E-i O tf 1 z < \ H-l Hi ^4 Q ts) » W H fe <J < H Ui 7J r/J tiJ O O W Eh QoH o W o t) o U CJ m tf m » O H U tf t^ n ^ 1^ « ^ rn M << n O H 2 M z o z < £ >O Pi o Eh ASSISTA STATE A STITUTIO -3 Pi 2 fa Sh§ H^ Eh O fa o <: 62 Report of State Treasurer Eh HS H H 2; r.O H ^ P OH Ol Ztf ^1 OH OH H^ «^ j-<t-i ^^^ &" O^^ SQ«qfoe OZHS aim ui H ^oP OH HPh H§ 2:<! -m<oo"S OHhZ MHHa |Oh h;^ Ofo HS^o H J Ptf Z*!! 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Object Description
Description
Title | Biennial report of the Treasurer of North Carolina |
Other Title | Report of the Treasurer of North Carolina |
Contributor |
North Carolina. Department of State Treasurer. |
Date | 1966; 1967; 1968 |
Subjects |
Finance, Public--North Carolina--Periodicals Local finance--North Carolina--Periodicals North Carolina. Department of State Treasurer |
Place | North Carolina, United States |
Time Period | (1954-1971) Civil Rights era |
Description | Description based on: 1882/1884. |
Publisher | [Raleigh, N.C. :The Dept.,-1976. |
Agency-Current |
North Carolina Department of the State Treasurer |
Rights | State Document see http://digital.ncdcr.gov/u?/p249901coll22,63754 |
Physical Characteristics | v. ;23 cm. |
Collection | Health Sciences Library. University of North Carolina at Chapel Hill |
Type | text |
Language | English |
Format |
Reports |
Digital Characteristics-A | 3111 KB; 86 p. |
Digital Collection |
Ensuring Democracy through Digital Access, a North Carolina LSTA-funded grant project North Carolina Digital State Documents Collection |
Digital Format | application/pdf |
Title Replaced By | North Carolina. Department of State Treasurer..Annual report |
Title Replaces | North Carolina. Treasurer..Biennial report of the Public Treasurer of North Carolina |
Audience | All |
Pres File Name-M | pubs_edp_biennialreporttreasurer19661968.pdf |
Pres Local File Path-M | \Preservation_content\StatePubs\pubs_edp\images_master\ |
Full Text |
THE LIBRARY OF THE
UNIVERSITY OF
NORTH CAROLINA
THE COLLECTION OF
NORTH CAROLINIANA
C336
N87t
1966/67-1967/68
UNIVERSITY OF N.C. AT CHAPEL HILL
00033968500
FOR USE ONLY IN
THE NORTH CAROLINA COLLECTION
Digitized by the Internet Arciiive
in 2011 witii funding from
Ensuring Democracy tiirough Digital Access (NC-LSTA)
http://www.archive.org/details/biennialtreasr19661968nc
BIENNIAL REPORT
TREASURER
STATE OF NORTH CAROLINA
FISCAL YEARS ENDED
JUNE 30, 1967 AND 1968
BIENNIAL REPORT
TREASURER
STATE OF NORTH CAROLINA
FISCAL YEARS ENDED
JUNE 30, 1967 AND 1968
EDWIN GILL
STATE TREASURER
PUBLIC TREASURERS OP NORTH CAROLINA
From To
Richard Caswell, Northern District 1775 1777
Samuel Johnston, Southern District 1775 1777
Memuncan Hunt 1777 1787
John Haywood 1787 1827
William S. Robards .__ 1827 1830
William S. Mhoon _. 1830 1835
Samuel T. Patterson 1835 1837
Daniel W. Courts .._ __._.. 1837 1839
Charles L. Hinton 1839 1843
John W. Wheeler __ 1843 1845
Charles L. Hinton . 1845 1851
Daniel W. Courts 1851 1863
Jonathan Worth .._ 1863 1865
Jonathan Worth, Provisional Treasurer June 12, 1865 Nov. 16, 1865
William Sloan Nov. 16, 1865 Jan. 1, 1866
Kemp B. Battle ..Jan. 1, 1866 July 8, 1868
David A. Jenkins July 8, 1868 Nov. 22, 1876
John M. Worth Nov. 22, 1876 Jan. 21, 1885
Donald W. Bain Jan. 21, 1885 Nov. 16, 1892
Samuel McD. Tate Nov. 16, 1892 Jan. 23, 1895
William H. Worth Jan. 23, 1895 Jan. 15, 1901
Benjamin R. Lacy Jan. 15, 1901 Feb. 21, 1929
Nathan O'Berry Feb. 23, 1929 Jan. 6, 1932
John P. Stedman Jan. 7, 1932 Nov. 21, 1932
Charles M. Johnson Nov. 21, 1932 Jan. 6, 1949
Brandon P. Hodges Jan. 6, 1949 July 20, 1953
N
T3 Edwin Gill July 20, 1953
CONTENTS
Biennial Report of State Treasurer—June 30, 1967 and 1968
Page
Statement of Treasurer's Cash Position—1967 - - 7
Statement of Treasurer's Cash Position—1968 - 8
Statement of Treasurer's Cash Receipts and Disbursements—1967 10
Statement of Treasurer's Cash Receipts and Disbursements—1968 -12
Funds Deposited in North Carolina Banks—1967 _ —
-
— - 14
Funds Deposited in North Carolina Banks—1968 14
Funds Invested in United States Government Securities^l967 25
Funds Invested in United States Government Securities—1968 26
Bond Sinking Funds and Reserves—1967 - 27
Bond Sinking Funds and Reserves—1968 - - 27
Statement of State Property Fire Insurance Fund—1967 —-27
Statement of State Property Fire Insurance Fund—1968 -— 27
Statement of Public School Insurance Fund—1967 28
Statement of Public School Insurance Fund—1968 -- - --28
Statement of Teachers and State Employees
Retirement System—1 967 28
Statement of Teachers and State Employees
Retirement System—1968 - 28
Statement of the Local Governmental Employees
Retirement System—1967 - 28
Statement of the Local Governmental Employees
Retirement System—1968 - - — 28
Statement of Firemen's Pension Fund—1967 29
Statement of Firemen's Pension Fund—1968 29
Statement of Law Enforcement Officers Benefit and
Retirement Fund—1967 29
Statement of Law Enforcement Officers Benefit and
Retirement Fund—1968 29
Statement of Literary Loan Fund—1967 29
Statement of Literary Loan Fund—1968 29
North Carolina State Education Assistance Authority
Trust Fund—1967 .- 30
North Carolina State Education Assistance Authority
Trust Fund—1968 30
State Commission for the Blind, Bureau Reserve Funds—1968 30
Special Funds Cash Balances—1967 - 31
Special Funds Cash Balances—1968 31
Capital Improvement Cash Balances—1967 37
Capital Improvement Cash Balances—1968 37
Bonded Indebtedness—1967 45
Bonded Indebtedness—1968 45
Annual Debt Requirements _ _ 47
Statement of Securities Held in Trust—1967 49
Statement of Securities Held in Trust—1968 49
General Fund—Statement of Revenues and Expenditures—1967 51
General Fund—Statement of Revenues and Expenditures—1968 - 51
Highway Funds—Statement of Revenues and Expenditures—1967 52
Highway Funds—Statement of Revenues and Expenditures—1968 52
Earnings from Treasurer's Investments 53
Secondary Road Bond Reserve and Highway Bond Reserve
of Highway Funds 54
Interest Rates on Certificates of Deposit 55
Objectives, Functions and Programs — — 56
January 6, 1969
Honorable Robert W. Scott
Governor of North Carolina
The Advisory Budget Commission, and,
Members of the General Assembly,
Raleigh, North Carolina
Gentlemen
:
In compliance with the provisions of G. S. 147-68, I submit
herewith the report of the Treasurer of the State of North Caro-lina
covering the fiscal years ending June 30, 1967, and June
30, 1968.
Please note that the format of our report has been changed
with the view of summarizing and simplifying the statements
showing the cash funds and securities held by the State Treas-urer.
Please note, also, that we have included a narrative des-cription
of the objectives, functions and programs of the Office
of the State Treasurer.
As Treasurer, I take pride in submitting this report which
is another chapter in the fiscal life of our State and which re-flects
the integrity and the sound business principles that have
been practiced in our State for many years.
Respectfully submitted,
^^ CUM
EDWIN GILL
State Treasurer
d
STATEMENT OF TREASURER'S CASH POSITION
June 30, 1967
ASSETS
Cash on hand $ $ 13,000.00
Demand deposits (Page 24) 50,160,189.07
Less warrants of State agencies
outstanding _. 42,580,751.30 7,579,437.77
Treasurer's Investments:
Certificates of deposit
N. C. banks (Page 24) 159,688,400.00
U. S. Government securities, at
cost (Page 25) 419,061,221.63 578,749,621.63
$586,342,059.40
FUND CASH BALANCES
General fund $ $206,421,401.49
Bond Sinking Funds and Reserves
Page (27):
General Fund 760,315.18
Highway Fund 49,245,137.56 50,005,452.74
Capital Improvement Funds 119,370,854.63
Special Funds:
Highway Fund 211,184,302.55
Less Secondary Road Bond Reserves 49,245,137.56
161,939,164.99
Self Insurance Funds (Page 27-28)
:
State Owned Property 61,128.93
Public School Buildings 482,880.36
544,009.29
Retirement and Pension Funds
(Page 28-29):
Teachers and State Employees 708,373.58
Local Governmental Employees 689,225.56
North Carolina Firemen's 371,296.22
Law Enforcement Officers 187,137.04
1,956,032.40
8 Report of State Treasurer
Literary Loan Fund (Page 29) - -- 567,441.42
N. C. State Education Assistance
Authority Trust Fund (Page 30) 2,961.61
Other Special Funds (Page 36) 45,534,740.83
Total Special Funds - 210,544,350.54
$586,342,059.40
STATEMENT OF TREASURER'S CASH POSITION
June 30, 1968
ASSETS
Cash on hand ___... $ $ 13,000.00
Demand Deposits (Page 24) _._ _ __. 56,680,689.97
Less warrants of State Agencies
outstanding 59,228,137.40 (2,547,447.43)
Treasurer's Investments:
Certificates of deposit
N. C. Banks (Page 24) 152,330,600.00
U. S. Government securities, at
Cost (Page 27) 422,816,201.85 575,146,801.85
$572,612,354.42
FUND CASH BALANCES
General Fund - $132,545,226.78
Bond Sinking Funds and Reserves
(Page 27)
General Fund - $ 327,738.39
Highway Fund 39,733,769.23 40,061,507.62
Capital Improvement Funds 174,697,993.31
Special Funds:
Highway Fund 211,669,813.90
Less Secondary Road Bond Reserves 39,733,769.23
171,936,044.67
Self Insurance Funds (Page 27-28) :
State owned property 261,164.34
Report of State Treasurer £
Public School Buildings -- 565,014.92
826,179.26
Retirement and Pension Funds
(Page 28-29)
Teachers & State Employees 2,259,721.39
Local Governmental Employees 1,240,787.21
North Carolina Firemen's 77,670.97
Law Enforcement Officers - 224,029.46
3,802,209.03
Literary Loan Fund (Page 29) .... 662,989.32
N. C. State Education Assistance
Authority Trust Fund (Page 30) .- 2,075.79
State Commission for Blind — Bureau
Reserve Funds (Page 30) 6,832.47
Other Special Funds (Page 36) 48,071,296.17
Total Special Funds 225,307,626.71
$572,612,354.42
10 Report of State Treasurer
STATEMENT OF TREASURER'S
YEAR ENDED
Combined General Fund
Cash balances, July 1, 1966 $ 414,578,309.21 $144,516,340.91
Receipts:
Tax revenues -.. - 1,101,889,792.40 669,947,783.87
Non-tax revenues 23,375,477.10 23,375,477.10
Total revenues 1,125,265,269.50 693,323,260.97
Non-revenue receipts 675,997,721.45 84,388,289.83
Receipt transfers 285,309,987.27 107,174,850.04
Total receipts __. 2,086,572,978.22 884,886,400.84
Disbursements:
Revenue refunds and allocations - 69,282,189.18 69,282,189.18
Disbursement transfers 252,873,991.44 48,522,392.10
Other disbursements 1,592,653,047.41 705,176,758.98
Total disbursements 1,914,809,228.03 822,981,340.26
Cash balances, June 30, 1967 ^ $ 586,342,059.40 $206,421,401.49
The accounts of the State Treasurer are necessarily maintained on a cash basis as to m
various funds for which the Treasurer acts as custodian of certain assets. Such method
tary control purposes to the extent of bank deposits in transit and warrants outstanding
For informational purposes, statements of revenues and expenditures as prepared from
fund are included on pages 51 and 52, respectively.
Report of State Treasurer 11
cash receipts and disbursements
I JUNE 30, 1967
Capital Bond
Special Funds Ipaprovement Sinking Funds
Highway Other Total Funds And Reserves
$119,816,274.01 $ 49,573,623.61 $ 169,389,897.62 $100,399,742.19 $ 272,328.49
431,942,008.53 431,942,008.53
431,942,008.53 _... 431,942,008.53
506,884,442.40 506,884,442.40 83,483,592.53 1,241,396.69
3,332,653.30 163,481,730.97 166,814,384.27 11,320,752.96
435,274,661.83 670,366,173.37 1,105,640,835.20 94,804,345.49 1,241,396.69
23,828,108.25 173,577,588.60 197,405,696.85 6,945,902.49
320,078,525.04 497,757,022.83 817,835,547.87 68,887,330.56 753,410.00
343,906,633.29 671,334,611.43 1,015,241,244.72 75,833,233.05 753,410.00
$211,184,302.55 $ 48,605,185.55 $ 259,789,488.10 $119,370,854.63 $ 760,315.18
eceipts and disbursements and do not purport to show the results of operations of the
)f accounting differs from the method employed by the Director of the Budget for budge-it
the beginning and end of the fiscal year.
he records of the Director of the Budget for the General Fund and for the Highway
12 Report of State Treasurer
STATEMENT OF TREASURER'S
YEAR ENDED
Combined General Fund
Cash balances, July 1, 1967 $ 586,342,059.40 $ 206,421,401.49
Receipts:
Tax revenues 1,275,378,364.32 755,153,809.50
Non-tax revenues -- 1,466,987.55 1,466,987.55
Total Revenues -- 1,276,845,351.87 756,620,797.05
Non-Revenues Receipts .- 745,002,295.98 124,277,280.15
Receipts Transfers - _ 429,468,481.78 91,567,182.37
Total Receipts - 2,451,316,129.63 972,465,259.57
Disbursements:
Revenue refunds and allocations 75,699,245.30 74,699,245.30
Disbursement Transfers 430,935,227.33 192,462,753.23
Other Disbursements 1,958,411,361.98 778,179,435.75
Total Disbursements 2,465,045,834.61 1,046,341,434.28
Cash balances, June 30, 1968 572,612,354.42 132,545,226.78
The accounts of the State Treasurer are necessarily maintained on a cash basis as to
various funds for which the Treasurer acts as custodian of certain assets. Such method
tary control purposes to the extent of bank deposits in transit and warrants outstanding
For informational purposes, statements of revenues and expenditures as prepared from
Fund are included on pages 51 and 52 respectively.
Report of State Treasurer 13
jasn receipts and disbursements
rUNE 30, 1968
Capital Bond
Special Funds Improvement Sinking Funds
Highway Other Total Funds And Reserves
$211,184,302.55 $ 48,605,185.55 $ 259,789,488.10 $119,370,854.63 $ 760,315.18
520,224,554.82 520,224,554.82
520,224,554.82 520,224,554.82
591,829,055.41 591,829,055.41 23,813,812.21 5,082,148.21
26,087,970.74 199,040,402.83 225,128,373.57 112,770,765.84 2,160.00
546,312,525.56 790,869,458.24 1,337,181,983.80 136,584,578.05 5,084,308.21
113,160,353.47 119,505,435.63 232,665,789.10 289,800.00 5,516,885.00
432,666,660.74 666,597,626.12 1,099,264,286.86 80,967,639.37
545,827,014.21 786,103,061.75 1,331,930,075.96 81,257,439.37 5,516,885.00
211,669,813.90 53,371,582.04 265,041,395.94 174,697,993.31 327,738.39
sceipts and disbursements and do not purport to show the results of operrvtions of the
[ accounting differs from the method employed by the Director of the Budget for budge-t
the beginning and end of the fiscal year.
ae records of the Director of the Budget for the General Fund and for the Highway
14 Report of State Treasurer
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