NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LINIT OF THE STATE OF NORTH CAROLNA
FINANCIAL STATEMENTS
FOR THE YEAR ENDED JTINE 3O,2OI5
NORTH CAROLINA PSYCHOLOGY BOARD
A c OMPONE*"THIEI#
:5ffiEsirr.]
oRrH cARoL INA
June 30,2015
Page
lndependent Auditor's Report
Management' s Discussion and Analysis
Basic Financial Statements :
A Statement of Net Assets-Proprietary Funds
B Statement of Revenues, Expenses, and Changes in
Fund Net Assets-Proprietary Funds
C Statement of Cash Flows-Proprietary Funds
Notes to the Financial Statements
Individual Fund Statements and Schedules:
I Statement of Revenues, Expenses, and Changes in
Net Assets-Budget and Actual-Enterprise Fund
2
a
J
4-8
BRYCE HOLDER, CPA, P.A.
C ERTI FIED PUB LI C AC C OUNTA NT
820 STATE FARM ROAD, SUITE F
BOONE, NORTH CAROLINA 28607
TELEPHONE (828) 264_s s9 s
TOLL FfuEE (800) 456_359s
FAX (828) 264_3s86
Independent Auditor,s Report
To the Board of Directors
North Carolina Psychology Board
Boone, North Carolina
Report of the Financial Statements
We have audited the accompanying basic financial statements of the business-type activity of the North
Carolina Psychology Board, Boone, No(h Carolina as of and for the year ended June 30, 2015, and the
related notes to the financial statements, which collectively comprise the Authority's basic fina.cial
statements, as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are fiee from material misstatement, wheiher due to fraud or
eITOr.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud o. ...o..
ln making those risk assessments, the auditor considers internal control relevant to the entity,s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion of the effectiveness oiihe^entity,s
internal control. Accordingly we express no such opinion. An audit also includes evaluating ihe
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall financial statement presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Opinions
ln our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the North Carolina Psychology Board, Boone, North Carolina as of June-30,2015,
and the changes in financial position and cash flows thereof for the year then ended in accordance with
accounting principles generally accepted in the United States of America.
Other Matters
Re quir e d S upp I ement ary Informat i on
Accounting principles generally accepted in the United States of America require that the Management,s
Discussion and Analysis on pages 3 through 5 be presented to supplement the basic financial statements.
Such information, although not a part of the basic financial statements, is required by the Governmentai
Accounting Standards Board who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic, or historical context. We haue uppti"a
certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America, which consisted of inquiries o1
management about the methods of preparing the information and comparing the information for
consistency with management's responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion
or provide any assurance on the information because the limited procedures do not provide ui rvith
sufficient evidence to express an opinion or provide any assurance.
Supp I ement ary and Other Informati on
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Board's basic financial statements. The individual fund financial schedule is presented for
the purposes of additional analysis and is not a reqtrired part of the basic financial statements.
The individual fund financial schedule is the responsibility of management and was derived from and
relate directly to the underlying accounting and other records used to prepare the basic financial
statements. Such information has been subjected to the auditing procedures applied in the audit of the
basic financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the basic finapcial
statements or to the basic financial statements themselves, and other additional procedures in accordance
with auditing standards generally accepted in the United States of America. In our opinion, the
information is fairly stated, in all material respects, in relation to the financial statements taken as a
whole.
44 ,/r/
Bryce Holder, CPA, PA
Boone, NC
May 4,2016
Management's Discussion and Analysis
As management of the North Carolina Psychology Board, we offer readers of the North Carolina
Psychology Board financial statements this narrative overview and analysis of the financial activities of
the North Carolina Psychology Board forthe fiscal year ended June 30,2015. We encourage readers to
read the information presented here in conjunction with additional information that we have furnished in
the Board's financial statements, which follow this narrative.
Financial Highlights
o The assets of the North Carolina Psychology Board exceeded its liabilities at the close of the
fiscal year by $975,400 (net position).
' The Board's total net position increased by $610,137, primarily due to this being a collection
year in the two year cycle for license renewal. This compares to a decrease of $317,988 in 2014.
The unrestricted net position increased by $610,137.
' The business-type activity operating revenues are $1,084,716 for the fiscal year.
' The Board has no debt other than compensated absences payable.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the North Carolina psychology
Board's basic financial statements. The Board's basic financial statements consist of three components:
1) the MD&A,2) fund financial statements, and 3) notes to the financial statements. Because the Board
is a special-purpose government engaged in business-type activities only, the financial statements are
presented in accordance with paragraph 138 of GASB Statement 34. In addition to the financial
statements, this repoft contains other supplemental information that will enhance the reader,s
understanding of the financial condition of the Board. In addition to the management,s discussion and
analysis, management has prepared the Statement of Net Position, the Statement of Revenues, Expenses
and Change in Net Position, and the Staternent of Cash Flows, following the MD&A.
Overview of the Board
The North Carolina Psychology Board's primary mission is to regulate the entry of persons into, and the
conduct of persons within, the profession of psychology in the State of North Carolina. The Board,s
operations are funded almost entirely through fees received from individuals in the psychology field.
Fund Financial Statements
The financial statements are presented on the fund basis. The fund financial statements provide a more
detailed look at the Board's most significant activities. A fund is a grouping of related accounts that is
used to maintain control over resources that have been segregated for specific activities or objectives.
The Board, like all other governmental entities in North Carolina, uses fund accounting to ensure and
reflect compliance, or non-compliance, with finance-related legal requirements, such as the General
Statutes (G S ) and the Board's budget ordinance. The Board's fund is an enterprise fund, which uses the
full accrual basis of accounting, and accounts forthe Board's activities in a manner similarto a for-profit
business.
The North Carolina Psl,chology Board adopts an annual budget as required by the General Statutes. The
budget is a legally adopted document that incorporates input from the management of the Board, and the
decisions of the Board about which services to provide and how to pay for them. It also authorizes the
Board to obtain funds from identified sources to finance these current period activities. The budgetary
statement demonstrates how well the Board cornplied with the budget ordinance and whether or not the
Board succeeded in providing the services as planned when the budget was adopted. The budgetary
comparison statement uses the budgetary basis of accounting and is presented using the same format,
language, and classifications as the legal budget document. The budgetary statements are presented as
supplementary information to demonstrate compliance with applicable state laws. To account for the
difference between the budgetary basis of accounting and the modified accrual basis, a reconciliation
showing the differences in the reported activities is shown at the end of tlie budgetary staternent.
Notes to the Financial Statements - The next section of the financial statements is the notes to the
financial statements. The notes provide additional information that is essential to a full understanding of
the data provided in the government-wide and fund financial statements. The notes to the financial
statements are on pages 4-8 of this repofi. Afterthe notes, supplemental infonnation is provided to show
details about the Board's fund.
North Carolina Psychology Board,s Net position
Figure I
Current and other assets
Capital assets
Total assets
Total liabilities
Net assets:
lnvested in capital assets, net
ofrelated debt
Unrestricted
Total net assets
2015 2014
$ 1,03 1,944 415,662
1.03t.944 415.662
56.544 50.399
9t 5.400 365.263
$ =975.400 355263
Net assets may serve over time as one useful indicator of a government's finalcial condition. The assets
of the Board exceeded liabilities by $981,231 as of June 30,2015. The Board's net position increased by
$615,968 for the fiscal year ended June 30, 2015. The Board uses these capital assets to provide services
to citizens; consequently, these assets are not available for future spending. All net assets are
unrestricted.
The Board's financial operations were influenced by the fact that the year ended June 30,2015 was the
collection year for the bi-annual fees for the renewal licenses.
North Carolina Psychology Board,s Changes in Net position
Figure 2
2015 20t4
Revenues:
Program revenue:
Charges for services
General revenue:
Tnvestment inconre
Total Revenues
Expenses
lncrease (decrease) in net position
Net Position, July 1
Net Position, June 30
Capital Assets
1,099,552
419,415 419,249
610,137 (317,988)
365,263 693,251
$ 975,400 3 65,263
$ 1,094,716
4,936
91,104
2,556
Capital assets - The North Carolina Psychology Board had no investment in capital assets as of June 30,
2015.
There were no major capital assets transactions during the year.
Additional information on the North Carolina Psychology Board's assets can be found in the notes of the
Basic Financial Statements.
Budget Highlights for the Fiscal Year Ending June 30,2016
Revenues from permits and fees are expected to decrease, since this will be a non-collection year for
licensure renewals. The Board will use the fund balance it has to finance programs currently in place in
the current and following years.
Budgeted expenditures in the General Fund are $64l,2g6,which is the same as the budget for the year
ended June 30,2015' The largest expenditures continue to be employee compensation, including funding
compensation and benefits adjustments, and legal and administrative expenses.
Requests for Information
This report is designed to provide an overview of the Board's finances for those with an interest in this
area. Questions concerning any of the information found in this report or requests for additional
information should be directed to the Board's Executive Director, North Carolina psychology Board, g95
State Farm Road Suite 101, Boone, NC 2g607 (g2S-262_225g).
Exhibit A
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LINIT OF THE STATE OF NORTH CAROLINA
STATEMENT OF NET POSITION-PROPRIETARY FLINDS
June 30,2015
Enterprise
Fund
ASSETS
Cash and cash equivalents
Securities investment lending pool
Capital assets, net of accumulated depreciation
Furniture, fixtures and equipment
Total assets
LIABILITIES
Accounts payable and accrued expenses
Obligations under securities lending pool
Compensated absences payable
Total liabilities
NET POSITION
lnvested in capital assets, net ofrelated debt
Unrestricted (deficit)
Total net position
$ 1,03 1,471
413
1,031,944
l,gll
2,9'79
45 7ss
56,544
915,400
$ 975,400
The accompanying notes are an integral part of these financial statements.
I
Exhibit B
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LINIT OF T}IE STATE OF NORTH CAROLINA
STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN NET POSITION-PROPzuETARY FLINDS
FOR THE YEAR ENDED JLINE 30. 2015
Operating Revenues
Fees, licenses and fines
Operating Expenses
Operating income (loss)
Non-operating Revenues (Expenses)
lnvestment earnings
Change in net position
Net Position
Beginning of year
End ofyear
Enterprise
Fund
$ 1,094,716
4lg,415
605,3 0 1
4,936
610,131
365,263
$ i7s,19t
The accompanying notes are an integral part of these financial statements.
2
Exhibit C
NORTH CAROLINA PSYCHOLOGY BOARI)
A COMPONENT LINIT OF THE STATE OF NORTH CAROLINA
STATEMENT OF CASH FLOWS -
PROPRIETARY FL]NDS
FOR T}M YEAR ENDED JLNE 30. 2015
Cash flows from operating activities:
Cash received frorn custorners
Cash paid to employees for services
Cash paid for goods and services
Net cash received (used) by operating activities
Cash flows from investing activities:
Interest received
Net cash received (used) by investing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, July I
Cash and cash equivalents, June 30
Reconciliation of operating income to net cash used
by operating activities:
Operating income (loss)
Adjustments to reconcile operating loss to net cash
used by operating activities:
Changes in net assets and liabilities:
Decrease in accounts payable and accrued expenses
Increase in compensated absences payable
Total adjustments
Net cash received by operating activities
Enterprise
Fund
$ 1,084,716
(289,629)
(183,641)
611,446
a <11
L<T
61 5,969
415,503
$ 1,03 1,471
605,301
(3,165)
9,910
6,145
$ 61 1,446
The accompanying notes are an integral part of these financial statements.
1
J
Note I
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LNIT OF TI{E STATE OF NORTH CAROLINA
Notes to the Financial Statements
June 30.2015
Summary of Significant Accounting policies:
The accountrng policies of the North Carolila Psychology Board conform to generally accepted
accounting principles as applicable to governments. The following is a summary of the more significant
accountilg policies:
Reportins Entity
The North Carolina Psychology Board, a component unit of the State of North carolina, is an
occupational licensrng board empowered by North Carolura Senate Bill 578 n lg6j for the primary
purpose of regulating the entry of persons into and the conduct of persons within the profession of
psychology in the State of North Carolila. The Board is governed in accordance with North Carolila
General Stalutes by a seven-member board appointed by the Governor of North Carolina.
Basis of Presentation
The financial statements are prepared on the accrual basis of accounting in a mamer similar to a private enterprise. The Board elected to apply all applicable Governmental Accountilg Standards Board (GASB) pronouncements as well as Financial Accounting Standards eoaia 6asn; pronouncements and Accounting Pnnciples Board (APB) opinions issued on or before November 30,
1989, unless those pronouncements conflict with or contradict GASB pronouncements. As permitted
by GASB Statement Number 20, the Board elected to apply FASB statements or interpretations
issued on or after November 30, 1989, unless specifically adopied by GASB.
As an enterprise fund, the Board is accounted for using the "economic resources,, measurement focus.
This means that all the assets and liabilities related to its operations are included on its statemelt of
net assets, and its operating statement includes all revenues (increases) and expenses (decreases) in
total assets. The principal operating revenues of the Board are fees for licenses. Tie signif,rcant
operating expenses ilclude the salaries and benefits, legal and accounting, and rentals and leaies.
Cash and Cash Equivalents
Cash and cash equivalents include regional office depo5ited operating funds, imprest fulds, and
deposits held by the State Treasurer in the State Treasurer's Short term Investmeni portfolio. lhe
Short Term lnvestment portfolio maintained by the State Treasurer has the general chaiacteristics of a
demand deposit account in that participants may deposit additional cash at any time and also may
withdraw cash at any time without prior notice or penalty.
while the Board does not directly engage in securities lending transactions, it deposits certain funds with the State Treasurer's Short Term Investment fund which participates in securities lendilg
activities. Based on the State Treasurer's allocation of these transactioni, the Board recognizes its
allocable share ofthe assets and liabilities related to these transactions on the accompanying"financial
statements as "State Treasurer's Securities Lending Collateral" and ,,Obligations Urider State
Treasurer's Securities Lendrng Agreements." The Board's allocable share of these assets and
liabilities is based on the Board's year end deposit balance per the State Treasurer,s records.
Based on the authorify provided ia General Statutes 141-69.3 (e), the State Treasurer lends securities
from its investment pools to brokers-dealers and other entities (bon"owers) for collateral that will be
returned for the same securities il the future. The Treasurer's securities custodian manages the
securities lending program. The Treasurer's custodian lent U.S. government and agency ,"J*iti.r,
GNMAs, corporate bonds and notes for coliateral. The Treasurerf custodian is pennittea to receive
cash, U.S. government and agency securities, or irrevocable letters of credit is collateral for the
securities lent.
A.
B.
C.
D.
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LNIT OF TIIE STATE OF NORTH CAROLINA
Notes to the Financial Statements
June 30, 2015
Note 1 - Summarv of Significant Accounting Policies (continued):
D. State Treasurer's Securities Lending Collateral (continued)
The collateral is initially pledged at 702 percent of the market value of the securities lent, and
additional collateral is required if its value falls to less than 100 percent of the market value of the
securities lent. There are no restrictions on the amount of loans that can be made. Substantiallv all
security loans can be terminated on demand by either the State Treasurer or the borrower.
Additional details on the State Treasurer's securities lending program are included in the State of
North Carolina's Comprehensive Annual Financial Report. An electronic version of this report is
available by accessilg the North Carolina Office of the State Controller's Internet home page
hffp://www.osc.nc.sov/ and clicking on "Financial Reports," or by calling the State Controller's
Financial Reporting Section at (919) 981-5454.
E. Assets
Capital Assets
Capital assets are defiaed by the government with an mitial, individual cost of more than a certain
cost and an estimated useful life in excess of two years. Minimum capitalization costs are as follows:
furniture and equipment, $5,000. Purchased or constructed capital assets are reported at cost or
estimated historical cost. Donated capital assets are recorded at their estimated fair value at the date
of donation. The cost of normal mailtenance and repairs that do not add to the value of the asset or
materially extend assets' lives are not capitalized.
Capital assets are depreciated usrng the straight line method over the following estimated useful lives:
Asset Class
Furniture and equipment
Estimated Useful Lives
5
F. Expenses
Compensated Absences
The vacation policy of the Board provides for the accumulation of up to thirry days earned vacation
leave with such leave being ful1y vested when eamed. For the Board's government-wide fund, an
expense and a liabilify of compensated absences and the salary-related payments are recorded as the
Ieave is earned. The Board has assumed a first-in, first-out method of using accumulated
compensated time. The portion of that time that is estimated to be used il the next fiscai year has
been designated as a current liabiiiry in the government-wide hnancial statements.
The Board's sick leave policy provides for an unlimited accumulation of eamed sick leave. Sick
leave does not vest, but any unused sick leave accumulated at the time of retirement may be used in
the determination of length of service for retirement benefit purposes. Since the Board has no
obligation for the accumulated sick leave until it is actua11y taken, no accrual for sick leave has been
made.
Use of Estimates
The preparation of fr.nancial statements ir conformity with accounting pruiciples generally accepted
in the United States of America requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of
the dates of the f,rnancial statements and the reported amounts of revenues and expenses durrrg the
reporting periods. Actual results could differ from those estimates.
G.
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LINIT OF TI{E STATE OF NORTH CAROLINA
Notes to the Financial Statements
June 30,2015
Note I - Summary of Sisnificant Accountins Policies (continued):
H. Net Position/Fund Balances
Net position in proprietary fund f,urancial statements are classified as invested in capital assets, net of
related debt; restricted and unrestricted. Restricted net position represent constraints on resogrces that
are either externally imposed by creditors, grantors, contributors, or laws or regulations of other
governments or imposed by law through state statute.
Note 2 - Stewardship. Compliance. and Accountabilitv:
A. Material Violations of Finance-Related Lesal and Contractual Provisions
Noncompliance with North Carolina General Statutes
There were no instances of noncompliance with North Carolina General Statutes.
Note 3 - Detail Notes on Funds:
A. Assets
Capital Assets
Capital asset activify for the year ended June 30, 2015 was as follows:
Capital assets being depreciated:
Furnitwe and equipment
Less accumulated depreciation
Beginning
Balances
$ 20,428
<21_,428>
$ - ____ --
lncrease
_-__i:
Decrease
Endirig
Balances
20,428
<29.423>
B. Liabilities
1. Retirement Costs
The four permanent fuli-time employees of the Board are eligible for participation in the North
Carolina Teachers'and State Employees'Retirement System for the year ended June 30,2015.
Participants of that system contribute 6% of their gross wages, while the Board contributes 9. 15% n
matching contributions. The Board has no pension obligations beyond the employer paid matching
contributions already paid into the retirement system. Matching contributions paid by the Board for
the year ended June 30, 2015, were $19,906.
The Teachers' and State Employees' Retirement System's financial information is rncluded in the
State of North Carolina's Comprehensive Annual Financial Report. An electronic version of this
report is available by accessing the North Carolina Office of the State Controller's lnternet home page
hffp://www.osc.nc.eov/ and clicking on "Reports," or by calling the Office of the State Controller,s at
(e19) 1 01 -07 s3 .
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LINIT OF THE STATE OF NORTH CAROLINA
Notes to the Financial Statements
June 30,2015
Note 3 - Detail Notes on Funds (continued):
B. Liabilities (continued)
2. Other Post-Employment Benefits
Health Benefits - The Board participates in the Comprehensive Major Medical plan (the plan), a cost-sharing,
multiple-employer defined benetlt health care plan that provides post-employment health
insurance to eligible former employees. Eligible former employees include long-tenn disabiliry
beneficiaries of the Disability lncome Plan of North Carolina andretirees of the Te;chers,and State
Employees' Retirement System or the Optional Retirement Program. Coverage eligibility varies
depending on years of contributory membership service in their retirement system prioi to disabiiity
or retirement.
The Plan's benefit and contribution provisions are established by Chapter 135-7, Article 1, and
Chapter 135, Article 3, of the General Statutes and may be amended onty Uy the North Caroiina
General Assembly. The PIan does not provide for automatic post-retirement benefit iricreases.
By General Statute, a Retiree Health Benefit Fund (the Fund) has been established as a fund in which
accumulated contributions from employers and any earnings on those contributions shall be used to
provide health benefits to retired and disabled employees and applicable beneficiaries. By statute, the
Fund is administered by the Board of Trustees of the Teachers' and State Empioyeesi Retirement
System and contributions to the fund are irrevocable. Also by law, Fund urritr'*. dedicated to
providing benefits to retired and disabled employees and applicable beneficiaries and are not subject
to the claims of creditors of the employers making contributions to the Fund.
Contribution rates to the Fund, which are intended to hnance benefits and administrative expenses on
a pay-as-you-go basis, are determined by the General Assembly rn the Appropriations Bili.
For the current fiscal year the Board contributed 5.49oh of the covered palroll under the Teachers,
and State Employees' Retirement System and the Optional Retirement Program to the Fund for retiree
health care benef,tts. The Board made 100% of its annual required contributions to the plan for the
year ended June 30, 2015, which was $11,944. The Board assumes no liability for retiree health care
benefits provided by the programs other than its required contribution.
Additional detailed information aboutthese programs caabe located inthe State of North Carolina,s
Comprehensive Annual Financiol Report. An elechonic version of this report is available by
accessirig the North Carolina Ofhce of the State Controller's Internet home page
htlp://www.osc.nc.gov/ and clicking on "Reports," or by calling the Office of the State Controller,s at
(919) 1 01 -07 s3 .
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LINIT OF THE STATE OF NORTH CAROLINA
Notes to the Financial Statements
June 30, 2015
Note 3 - Detail Notes on Funds (continued):
C. Lons Term Oblisations
1. Operating Leases
Effective July 12,2013, the Board renewed the operating lease agreement for a two year period
ending September 30, 2015. The lease payments are $ i,750 per month for an amuai rr. of $Z i,OOO.
Total future minimum lease payments are as follows:
Lease payments
Fiscal Year
Endine June 30
2016
Operating
Lease
$ 5,250
2. Lons Term Oblieation Activir-y
The followrng is a summary of changes in general long-term obligations for the year ended June 30,
2015:
Balance Balance
Julv 1. 2014 Additions Decreases June 30. 2015
Compensated absences $ 35,845 25,04j 15,137 45,755
Note 4 - Subsequent Events:
The Board has evaluated all subsequent events for potential recognition and disclosure through May 4,
2016 the date these financial statements were available to be issued.
NORTH CAROLINA PSYCHOLOGY BOARD
A COMPONENT LI{IT OF THE STATE OF NORTH CAROLINA
STATEMENT OF REVENUES, EXPENSES, AND CT{ANGES IN
NET POS ITION-BUDGET AND ACTUAL-ENTERPRI S E FLIND
FOR THE YEAR ENDED JLTNE 30.2015
Schedule I
Variance with
Final Budget
Final Actual positive -
Budget Amounts (Negative) OPERATING REVENUES
Examination & certification fees
License and renewal fees
Sales and services
Application, registration, and other fees
Per diem collections
Fines, penalties, and assessments
TOTAL OPERATING REVENUES
NONOPERATING REVENUES
lnvestment earnings
TOTAL NONOPERATING REVENUES
EXPENDITURES
Salaries and benefits
Administrative services
Contracted services
Suppltes
Travel and subsistence
Legal and accounting fees
Rentals and lease
Utilities and telephone
Other administrative
TOTAL EXPENDITURES
Revenues and other financing sources over (under) expenditures
Appropriated fund tralance
Excess (deficiency) of revenues and
appropriated fund balances over expenditures
Net Position at beginning of year
Net Position at end of year
164,301 1,084,716 320,415
10.000 4Ri5 r{t6ar
10,000 4,836 (5,164)
$ 120,380 56,900
604,605 990,895
|,436 I ,391
34,600 35,250
(63,480)
386,290
(45)
650
3,200
80
- (3,200)
280 200
426,117
5,3 00
9,500
6,3 50
25,985
93,500
31,214
23,630
19,040
299,539
24,856
22,960
7,798
10,949
64,235
)1 ?qs
11,822
1,961
127,238
( 19,556)
(t4,460)
( 1,448)
15,036
29,26s
7,9t9
5,808
1 r,079
640,296 479,4t5 r 60,881
134,005
( 134,005)
610,137 416,132
134,005
$ ____________ 610, 137
365,263
$ 975,400
The accompanying notes are an integral part of these financial statements.
9