Biennial report of the Treasurer of North Carolina

              THE LIBRARY OF THE
UNIVERSITY OF
NORTH CAROLINA
THE COLLECTION OF
NORTH CAROLINLANA
C336
N87t
197U/76
UNIVERSITY OF N.C. AT CHAPEL HILL
00033968582
FOR USE ONLY IN
THE NORTH CAROLINA COLLECTION
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Digitized by the Internet Archive
in 2011 with funding from
Ensuring Democracy through Digital Access (NC-LSTA)
http://www.archive.org/details/biennialtreasr19741976nc
BIENNIAL REPORT
OF THE
TREASURER OF NORTH CAROLINA
FOR
FISCAL YEARS ENDED
JUNE 30, 1975 and 1976
^
BIENNIAL REPORT
OF THE
TREASURER OF NORTH CAROLINA
FOR
, FISCAL YEARS ENDED
JUNE 30, 1975 and 1976
EDWIN GILL
STATE TREASURER
PUBLIC TREASURERS OF NORTH CAROLINA
From
Richard Caswell, Northern District 1775
Samuel Johnston, Southern District 1775
Memuncan Hunt 1777
John Haywood 1787
William S. Robards 1827
WUliam S. Mhoon 1830
Samuel T. Patterson 1835
Daniel W. Courts 1837
Charles L. Hinton 1839
John W. Wheeler 1843
Charles L. Hinton 1845
Daniel W. Courts 1851
Jonathan Worth 1863
Jonathan Worth, Provisional Treasurer June 12, 1865
Waiiam Sloan Nov. 16, 1865
Kemp B. Battle Jan. 1, 1866
David A. Jenkins July 8, 1868
John M. Worth Nov. 22, 1876
Donald W. Bain Jan. 21, 1885
Samuel McD. Tate Nov. 16, 1892
William H. Worth Jan. 23, 1895
Benjamin R. Lacy Jan. 15, 1901
Nathan O'Berry Feb. 23, 1929
John P. Stedman Jan. 7, 1932
Charles M. Johnson Nov. 21, 1932
Brandon P. Hodges Jan. 6, 1949
Edwin Gill July 20, 1953
To
1777
1777
1787
1827
1830
1835
1837
1839
1843
1845
1851
1863
1865
Nov. 16, 1865
Jan. 1, 1866
July 8, 1868
Nov. 22, 1876
Jan. 21, 1885
Nov. 16, 1892
Jan. 23. 1895
Jan. 15, 1901
Feb. 21, 1929
Jan. 6, 1932
Nov. 21, 1932
Jan. 6, 1949
July 20, 1953
ri.
Or
A '^'
CONTENTS ^
Biennial Report of the State Treasurer - June 30, 1975 - 1976
Page
Statement of Treasurer's Cash Position 6
Statement of Treasurer's Cash Receipts and Disbursements 8
Demand Deposits and Certificates of Deposit 10
Treasurer's Investments of Cash Balances - 1975 21
Treasurer's Investments of Cash Balances - 1976 23
Statement of Local Governmental Employees Retirement System 24
Statement of the North Carolina State Education Assistance Authority Trust Fund 24
Statement of Public School Insurance Fund 24
Statement of Literary Loan F\md 25
Statement of the Uniform Judicial Retirement System of N. C 25
Statement of N. C. Housing Finance Agency Debt Service Reserve Fund 25
Statement of Escheat Fund of North Carolina 26
Statement of Firemen's Pension Fund 26
Statement of Law Enforcement Officers Benefits & Retirement Fund 26
Statement of N. C. Employee Disability Fund 27
Statement of Uniform Solicitorial Retirement System 27
Statement of Uniform Clerks of Superior Court Retirement System 27
Statement of the Teachers and State Employees Retirement System 28
Statement of State Property Fire Insurance Fund 28
Special Fund Cash Balances 29
Capital Improvement Funds , 35
Statement of the State Bonded Debt 44
Annual Debt Requirements 46
Statement of Securities Held in Trust 47
General F'und - Statements of Revenues and Expenditures 49
Highway Funds - Statement of Revenues and Expenditures 50
Earnings From Treasurer's Investments 51
Highway Bond Reserve of Highway Funds 52
Interest Rates on Certificates of Deposit 53
January 4, 1977
Honorable James E. Holshouser, Jr.
Governor of North Carolina
The Advisory Budget Commission, and
Members of the General Assembly,
Raleigh, North Carolina
Gentlemen:
In comphance with the provisions of G.S. 147-68, I submit herewith the report
of the Treasurer of the State of North Carolina, covering the fiscal years ending June
30, 1975, and June 30, 1976.
1 am mindful of the fact that it is difficult to make a comprehensive financial
report during a period of economic uncertainty, without referring in detail to the
difficult times through which we are passing. The economists, many of whom counted
on full recovery by this time, are now taking another look. They are saying the only
thing they can say with truth, and that is, that while recovery has been seriously
delayed, it is on the way. I am in full accord with this analysis, and have high hopes for
the fiscal well-being of our State in the years ahead.
Why has economic recover)/ been so seriously postponed? A part of the answer
will be found in reading the facts and figures transmitted herewith. But what will be
more evident is the fact that, despite the bad news, North Carolina has written a
favorable record' of which we can be proud. Our budget continues to be balanced and
North Carolina continues to sell her bonds at extremely favorable interest rates —
because of the State's AAA bond rating.
The troubles experienced by many of our sister states can be attributed in large
measure to the fact that they have mismanaged their fiscal affairs. The fact that North
Carohna stands out as one of the best administered states in the union in a financial
sense can be attributed to the system of checks and balances incorporated in our
budgetary and fiscal control laws.
• And, in another important aspect, one of the secrets of our success in North
Carolina is the simple fact that those who have administered our fiscal affairs have
done so with integrity. Public servants in our State have been men of integrity in both
public and private life. This wonderfully important fact leads many to quote the
famous maxim "Ours is a government of laws and not of men" - to which I have
added, "but men do count."
Inasmuch as I will shortly be stepping down as Treasurer of North Carolina,
perhaps it is appropriate to repeat what I have often said before: "In North Carolina,
we have made a habit of good government." I should like to leave that habit as a
legacy to my fellow citizens.
As Treasurer, I take pride in submitting this report which is another Chapter in
the fiscal Hfe of our State, and which reflects the integrity and the sound business
principals that have been practiced in North Carolina for many years.
Respectfully submitted.
REPORT OF STATE TREASURER
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REPORT OF STATE TREASURER
STATEMENT OF TREASURER'S
FISCAL YEARS
Combined General Fund
Cash Balance July 1, 1974 $1,033,730,351.03 $ 329,118,335.37
Receipts for the Year Ended June 30, 1975
Tax and Non-Tax Revenues 2,431,480,832.71 1,904,343,755.49
Other Receipts and Transfers 3,500,075,446.58 712,976,428.93
Total Receipts 5,931,556,279.29 2,617,320,184.42
Disbursements for the Year Ended June 30, 1'975
Revenue Refunds & Transfers 929,369,880.11 367,201,736.19
Disbursements 5,132,832,710.22 2,377,364,727.95
Total Disbursements 6,062,202,590.33 2,744,566,464.14
Cash Balance June 30, 1975 903,084,039.99 201,872,055.65
Receipts for the Year Ended June 30, 1976
Tax and Non-Tax Revenues 2,709,518.489.18 2,075,341,327.97
Other Receipts and Transfers 3,796,641,576.14 889,311,247.01
Total Receipts 6,506,160,065.32 2,964,652,574.98
Disbursements for the Year Ended June 30, 1976
Revenue Refunds & Transfers 1,039,843,822.21 383,186,661.54
Disbursements 5,581,559,502.78 2,610,848,776.66
Total Disbursements 6,621,403,324.99 2,994,035,438.20
CashBalance June 30, 1976 787,840,780.32 172,489,192.43
REPORT OF STATE TREASURER
CASH RECEIPTS AND DISBURSEMENTS
ENDING 1975-76
Special Funds
Highway
$315,938,831.36
Other
$ 108,753,506.12
Total
$ 424,692,337.48
- Capital
Improvement
Funds
$279,919,678.18
527,137,077.22
527,137,077.22
2,543,569,548.65
2,543,569,548.65
527,137,077.22
2,543,569,548.65
3,070,706,625.87
243,529,469.00
243,529,469.00
562,168,143.92
562,168,143.92
280,907,764.66
2,536,177,474.93
2,536,177,474.93
116,145,579.84
562,168,143.92
2,536,177,474.93
3,098,345,618.85
397,053,344.50
219,290,507.34
219,290,507.34
304,158,639.84
634,177,161.21
634,177,161.21
2,644,797,461.34
2,644,797,461.34
634,177,161.21
2,644,797,461.34
3,278,974,622.55
262,532,867.79
262,532,867.79
656,657,160.67
656,657,160.67
2,651,298,540.77
2,651,298,540.77
656,657,160.67
2,651,298,540.77
3,307,955,701.44
319,412,185.35
319,412,185.35
258,427,765.20 109,644,500.41 368,072,265.61 247,279,322.28
10 REPORT OF STATE TREASURER
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REPORT OF STATE TREASURER 21
TREASURER'S INVESTMENTS OF CASH BALANCES
JUNE 30, 1975
Description Cost Par Value
V. S. Treasury Bills:
Due 8/07/1975 $ 39,456,000.00 S 40,000,000.00
Due 9/11/1975 4,939,333.33 5,000,000.00
Due 10/09/1975 4,906,025.00 5,000,000.00
Due 10/30/1975 15,505,061.11 16,000,000.00
Due 11/06/1975 29,232,238.89 30,000,000.00
$ 94,038,658.33 $ 96,000,000.00
U. S. Treasury Notes;
5 7/8% due 8/15/1975 64,044,626.65 63,000,000.00
8 3/8% due 9/30/1975 13,225,990.44 13,000,000.00
8% due 3/31/1976 17,314,526.13 17,000,000.00
6% due 5/13/1976 5,039,251.37 5,000,000.00
8 1/4% due 9/30/1976 5,154,713.11 5,000,000.00
6 1/2% due 10/31/1976 20,965,625.00 21,000,000.00
7 1/8% due 11/30/1976 10,209,551.28 10,000,000.00
6% due 2/28/1977 5,019,633.15 5,000,000.00
6 7/8% due 5/15/1977 34,378,125.00 35,000,000.00
6 3/4% due 5/31/1977 44.828,365.38 45,000,000.00
6 1/2% due 6/30/1977 4,988,009.90 5,000,000.00
$ 225,168,417.41 S 224,000,000.00
U. S. Agencies Securities:
7.40% BanksforCoops. due 7/1/1975 9,150,818.75 9,000,000.00
9.60% F.I.C.B due 7/1/1975 9,036,562.50 9,000,000.00
5.70% F.L.B. due 7/21/1975 4,950,000.00 5,000,000.00
8.45% F.I.C.B. due 8/4/1975 5,042,618.05 5,000,000.00
7.50% F.N.M.A. due 9/10/1975 3,970,000.00 4,000,000.00
7.05% F.I.C.B. due 11/3/1975 31,736,645.81 31.000,000.00
7.05% F.H.L.B. due 11/25/1975 14,765,625.00 15,000,000.00
9.10% F.H.L.B. due 11/25/1975 5,088,789.93 5,000,000.00
6.15% F.I.C.B. due 12/1/1975 25,338,468.74 25,000,000.00
6.65% F.I.C.B. due 1/5/1976 5,113,567.71 5,000,000.00
9.20% F.L.B. due 1/20/1976 17,973,831.52 18,000,000.00
6.60% F.I.C.B. due 2/2/1976 49,002,969.12 49,000,000.00
9.20% F.H.L.B. due 2/25/1976 19,991,666.67 20,000,000.00
6.15% F.I.C.B. due 3/1/1976 19,997,500.00 20,000,000.00
7 1/8% F.N.M.A. due 3/10/1976 5,140,468.75 5,000,000.00
5.65% F.N.M.A. due 3/10/1976 7,061,246.11 7,000,000.00
10% F.N.M.A. due 6/10/1976 29,194,138.89 29,000,000.00
7.05% F.L.B. due 7/20/1976 4,957,812.50 5,000,000.00
8.60% F.H.L.B. due 11/26/1976 5,033,650.00 5,000,000.00
9.55% F.H.L.B. due 11/26/1976 12,713,802.08 12,500,000.00
7.05% F.N.M.A. due 3/10/1977 24,815,000.00 25,000,000.00
8.70% F.H.L.B. due 5/25/1977 5,000,000.00 5,000,000.00
8.80% F.H.L.B. due 8/25/1977 15,000,000.00 15,000,000.00
9.15% F.H.L.B. due 11/25/1977 23,923,577.46 24,000.000.00
9 3/8% F.H.L.B. due 2/27/1978 5,348,697.92 5,000,000.00
22 REPORT OF STATE TREASURER
TREASURER'S INVESTMENTS OF CASH BALANCES (Continued)
JUNE 30, 1975
Description Cost Par Value
7.15% F.N.M. A. due 6/12/1978 19,781,250.00 20,000,000.00
7.45% F.N.M.A. due 6/12/1978 5,000,000.00 5,000,000.00
$ 384,128,707.51 $ 382,500,000.00
U. S.Treasury and Agency Securities:
Repurchase Agreements $ 76,700,000.00 $ 77,000,000.00
Certificates of Deposit $ 230,959,000.00 $ 230,959,000.00
Totals $1,010,994,783.25 $1,010,459,000.00
REPORT OF STATE TREASURER 23
TREASURER'S INVESTMENTS OF CASH BALANCES
JUNE 30, 1976
Description
U. S. Treasury Bills:
Due 8/12/1976
Due 9/02/1976
Due 9/30/1976
Due 10/14/1976
Due 10/28/1976
Due 11/12/1976
Due 11/15/1976
Due 11/18/1976
Due 2/08/1977
S. Treasury Notes:
5 7/8% due 8/31/1976.
6 1/4% due 11/15/1976.
6 1/2% due 3/31/1977.
6 3/4% due 5/31/1977.
8 1/4% due 8/31/1977.
6 5/8% due 11/30/1977.
7 7/8% due 5/15/1978.
U.S.
6
5.
6.
9.
6
5
8
9
7
7
7
Agency Securities:
1/4% Banks for Coops, due 7/1/1976
.35% BanksforCoops. due 8/2/ 1976
.90% F.I.C.B. due 8/2/1976
.55% F.H.L.B. due 8/25/1976
.20% F.I.C.B. due 9/1/1976
.65% F.I.C.B. due 11/1/1976
.60% F.H.L.B. due 11/26/1976 . . .
.55% F.H.L.B. due 11/26/1976 .. .
.45% F.L.B. due 1/20/1977
.05% F.N.M.A. due 3/10/1977. . . .
.70% Banks for Coops, due 4/4/1977
8.70% F.I.C.B. due 4/4/1977
8.70% F.H.L.B. due 5/25/1977
8.80% F.H.L.B. due 8/25/1977
7.85% F.N.M.A. due 9/12/1977
9.15% F.H.L.B. due 11/25/1977 ...
9.3/8% F.H.L.B. due 2/27/1978
7.15% F.N.M.A due 6/12/1978
7.45% F.N.M.A due 6/12/1978 ... .
U. S. Treasury and Agency Securities:
Repurchase Agreements
Cost Par Value
29,713,466.67 S 30,000,000.00
39,390,311.12 40,000,000.00
9,807,744.44 10,000,000.00
14,631,958.33 15,000,000.00
8,776,413.12 9,000,000.00
4,862,020.83 5,000,000.00
4.886,215.28 5,000,000.00
4,855,916.67 5,000,000.00
11,498,816.66 12,000,000.00
$128,422,863.12
5,099,337.64
57,716,576.09
16,152,739.92
77,432,968.75
15,557,201.09
5,049,645.67
25,923,797.22
$202,932,266.38
,050,173.61
,066,246.54
,415,562.50
,051,562.50
,123,503.47
,078,440.97
,000,000.00
,500,000.00
,168,284.73
,925,000.00
,000,000.00
,074,994.00
,000,000.00
,000,000.00
,075,000.00
,923,577.46
,062,500.00
,879,910.35
,000,000.00
$173,394,756.13
$164,000,000.00
$131,000,000.00
5,000,000.00
57,500,000.00
16,000,000.00
78,000,000.00
15,000,000.00
5,000,000.00
26,000,000.00
5202.500,000.00
5,000
5,000
15,000
5,000
5,000
5,000
7,000
10,500
5,000
20,000
8,000
5,000
10,000
10,000
5,000
24,000
5,000
18,050
5.000
,000.00
,000.00
,000.00
,000.00
,000.00
,000.00
,000.00
.000.00
,000.00
,000.00
,000.00
,000.00
,000.00
,000.00
.000.00
,000.00
,000.00
,000.00
,000.00
Certificates of Deposit 230,857,000.00
;172,550,000.00
$164,000,000.00
230,857,000.00
j Totals $899.606,885.63 $900,907,000.00
24 REPORT OF STATE TREASURER
STATEMENT OF LOCAL GOVERNMENTAL EMPLOYEES
RETIREMENT SYSTEM
ASSETS June 30, 1975 June 30, 1976
Cash $ 481,744.01 $ 344,860.78
North Carolina County and City Bonds, at cost .... 2,834,885.33 2,696,885.85
U. S. Government Securities, at cost 3,103,716.12 3,896,355.84
U. S. Agency Securities, at cost 2,747,836.85 10,877,213.27
Corporate Securities, at cost
Bonds 214,774,365.99 235,422,699.69
Stock 33,838,532.82 41,151,455.70
$257,781,081.12 $294,389.471.13
FUND BALANCES
Fund Balances with State Treasurer $257,781,081.12 $294,389,471.13
STATEMENT OF THE NORTH CAROLINA STATE EDUCATION ASSISTANCE
AUTHORITY TRUST FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 73,974.33 $ 169,714.74
U. S. Government Securities, at cost 2,233,438.13 2,580,772.19
$ 2,307,412.46 $ 2,750,486.93
FUND BALANCES
Fund Balances with State Treasurer $ 2.307,412.46 $ 2,750,486.93
STATEMENT OF PUBLIC SCHOOL INSURANCE FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 706,115.08 $ 748,645.06
U. S. Government Securities, at cost 7,392,301.92 8,440,973.56
$ 8,098,417.00 $ 9,189,618.62
FUND BALANCES
Fund Balances with State Treasurer $ 8,098,417.00 $ 9,189,618.62
REPORT OF STATE TREASURER 25
STATEMENT OF LITERARY LOAN FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 2,433,256.70 S 540,127.57
U. S. Government Securities, at cost 1,974,889.54 202,625.39
$ 4,408,146.24 $ 742,752.96
FUND BALANCES
lund Balances with State Treasurer $ 4,408,146.24 $ 742,752.96
STATEMENT OF THE UNIFORM JUDICL\L RETIREMENT
SYSTEM OF N. C.
ASSETS June 30, 1975 June 30, 1976
Cash $ 171,178.53 $ 78,930.39
U. S. Government Securities, at cost 2,252,837.70 3,482,756.51
$ 2,424,016.13 $ 3.561,686.90
FUND BALANCES
Fund Balances with State Treasurer $ 2,424,016.13 $ 3,561,686.90
STATEMENT OF N. C. HOUSING FINANCE AGENCY
DEBT SERVICE RESERVE FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 132,625.69 $ 188,913.21
U. S. Government Securities, at cost 4,174,105.56 4,379,880.00
$ 4,306,731.25 $ 4,568,793.21
FUND BALANCES
Fund Balances with State Treasurer $ 4,306,731.25 $ 4,568,793.21
26 REPORT OF STATE TREASURER
STATEMENT OF ESCHEAT FUND OF NORTH CAROLINA
ASSETS June 30, 1975 June 30, 1976
Cash $ 717,685.84 $ 234,431.07
U. S. Government Securities, at cost 5,295,137.39 7,497,521.97
Corporate Bonds, at cost 100,340.28 399,773.38
$ 6,113.163.51 $ 8,131,726.42
FUND BALANCES
Fund Balances with State Treasurer $ 6,113,163.51 $ 8.131,726.42
STATEMENT OF FIREMEN'S PENSION FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 75,448.35 $ 187,632.28
U. S. Government Securities, at cost 1,309,441.54 1,609,380.72
Corporate Bonds, at cost 7,881,255.82 8,719,354.83
$ 9.266.145.71 $ 10,516.367.83
FUND BALANCES
Fund Balances with State Treasurer $ 9.266.145.71 $ 10.516.367.83
STATEMENT OF LAW ENFORCEMENT OFFICERS
BENEFITS & RETIREMENT FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 862,305.09 $ 688,365.28
North Carolina County and City Bonds, at cost .... 7,442,270.09 7,438,304.24
U. S. Government Securities, at cost 185,951.40 185,765.78
Corporate Bonds, at cost 92,965,963.69 113,509,970.70
$101.456.490.27 $121.822,406.00
FUND BALANCES
Fund Balances with State Treasurer $101.456.490.27 $121.822.406.00
REPORT OF STATE TREASURER 27
STATEMENT OF N. C. EMPLOYEE DISABILITY FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 551,251.74 $ 332,720.38
U. S. Government Securities, at cost 15,517,706.83 16,018,595.77
$ 16,068,958.57 $ 16,351,316.15
FUND BALANCES
Fund Balances with State Treasurer $ 16,068,958.57 $ 16,351,316.15
STATEMENT OF UNIFORM SOLICLrORIAL RETIREMENT SYSTEM
ASSETS June 30, 1975 June 30, 1976
Cash S 67,270.22
U. S. Government Securities, at cost 483,521.70
S 550,791.92
|. FUND BALANCES
Fund Balances with State Treasurer $ 550,791.92
STATEMENT OF UNIFORM CLERKS OF SUPERIOR COURT
RETIREMENT SYSTEM
ASSETS June 30, 1975 June 30, 1976
Cash $ 56,748.02
U. S. Government Securities, at cost 871,403.25
$ 928,151.27
FUND BALANCES
Fund Balances with State Treasurer $ 928,151.27
28 REPORT OF STATE TREASURER
STATEMENT OF THE TEACHERS AND STATE
EMPLOYEES RETIREMENT SYSTEM
ASSETS June 30, 1975 June 30, 1976
Cash $ 3,512,036.51 $ 1,225,438.75
North Carolina County & City Bonds, at cost .... 7,216,286.60 6,941,509.63
U. S. Government Securities, at cost 36,109,452.57 31,981,461.12
U. S. Agency Securities, at cost 61,520,652.22 95,935,532.73
Corporate Securities, at cost:
Bonds 1,367,790,415.46 1,505,305,435.96
Common Stock 304,546,792.22 370,363,098.37
Farmers Home Administration Notes 18,254,067.59 16,967,998.19
G.N.M.A. Mortgage Backed Certificates, at cost . . . 25,273,551.23 61,745,831.95
Mortgages 12,685,378.51 12,454,782.80
Public Housing Authority Bonds 367,570.88 370,692.76
$1.837,276,203.79 $2,103,291.782.26
FUND BALANCES
Fund Balances with State Treasurer $1.837.276.203.79 $2,103.291.782.26
STATEMENT OF STATE PROPERTY FIRE INSURANCE FUND
ASSETS June 30, 1975 June 30, 1976
Cash $ 145,039.99 $ 163,337.93
U. S. Government Securities, at cost 6,686,023.73 7,165,157.55
$ 6,831,063.72 $ 7J28.495.48
FUND BALANCES
Fund Balances with State Treasurer $ 6,831.063.72 $ 7.328.495.48
REPORT OF STATE TREASURER 29
SPECIAL FUND CASH BALANCES
State Departments and Budget Code Description
Genera! Government:
Administration, Department of:
10801 - Property Sales Revolving Fund . . . .
10802 - I- ederal Property Agency
10803 - Auxiliary Services
10806 - Miscellaneous
10809 - Housing Corporation l"unds
10812 - Special
10813 - Special Program
10823 - Miscellaneous Grants
10824 - Operation of Parking Lots
10830 - Election Campaign Funds
10835 - Manpower
10875 -Central Payroll Revolving Fund . . . .
10884 - North Carolina Manual (1585-1974) .
Judicial Department
10818 -Federal Funds
State Treasurer, Department of
10826 - Social Security Agency
Justice, Department of;
10881 - Attorney General ...
Public Safety and Regulation:
Transportation, Department of Motor Vehicles:
12713 - Driver License Examination - Special Fund
12714 - Personalized Registration Plate Fund . . .
12715 - Safety Responsibility Depository Account
12717 - Dealers Manufacturers License Fund .
12719 - Bus Regulation Depository Account .
12725 - Commercial Driver Training Law Fund
12727 - Special License Plate Fund
12761 - Gasoline and Oil Inspection Fund. . .
Labor, Department of:
12741 - Occupational Safety and Health Program
Boards and Commissions:
12771 - State Banking Commission
12772 - N. C. Auctioneers Licensing Commission.
12791 - State Board of Barber Examiners
12801 - State Board of Cosmetic Art
12811 - State Board of Opticians
12812 - State Board of Practicing Psychologists. .
Insurance, Department of:
12835 - Workmen's Compensation Security Fund
Mutual Account
12837 - Workmen's Compensation Security Fund
Stock Account
Cash Balance
June 30. 1975
20.32
289,468.46
1,363,748.11
238,580.57
186,197.34
1,037,089.71
398.58
12.50
46.00
-0-
4,915,696.24
103,777.21
-0-
113,032.68
28,365,427.49
136,641.00
530,920.28
35,321.23
28,957.70
316,341.08
21,506.86
3,810.00
-0-
-0-
84,900.14
64.94
102,631.23
82,940.95
41,985.16
13,835.24
12,933.23
16,901.61
29,311.34
Cash Balance
June 30, 1976
20.32
358,805.81
1,386,158.98
284,942.74
12,956.02
1,139,360.43
398.58
-0-
-0-
55,045.00
2,643,662.47
113,561.94
15,748.43
46,094.44
25.969,545.45
97,151.29
-0-
111,866.00
27,417.89
441,632.58
16,556.86
4,435.00
8,583.00
677,712.46
36,492.82
64.94
145,873.68
86,825.31
92,403.29
16,698.04
20,355.44
1,799.94
1,583.88
30 REPORT OF STATE TREASURER
SPECIAL FUND CASH BALANCES - (Continued)
State Departments and Budget Code Description
Insurance, Department of (Continued):
12839 -Publications Fund
12841 - Firemen's Relief Fund
12843 - Special Fund
Commerce, Department of:
12845 - Employment Security Commission -
Administration
12846 - Special Unemployment Compensation -
Administration
12847 - Employment Security Commission -
Claims and Benefits Account .
.'
12848 - Employment Security Commission -
Clearing Account
12849 - Unemployment Compensation - Federal
Employer Benefit Account
12852 - Employment Security Commission -
^ Manpower Development and Training Act
12853 - Employment Security Commission -
WIN Program - Federal Funds
12855 - Employment Security Commission -
Disaster Unemployment Account
12856 - Employment Security Commission -
Special Unemployment Assistance ....
12881 - Industrial Commission - Secondary
Injury F'und
12891 - Special Funds
12893 -State ABC Warehouse Operations
Military and Veterans' Affairs, Department of:
12865 - Contributions to Local Units
12867 - Community Shelter Program
State Treasurer, Department of;
12901 - Assurance of Land Titles
12902 - Absentee Insurance Fund
Correction:
Correction, Department of:
14721 - Board of Juvenile Correction
14829 - Central Administration -
Federal Funds
14831 - Enterprises Revolving Fund
14833 - Federal Funds
Public Welfare:
Social Services, Department of:
16721 - Social Services
16736 - Economic Security Programs
16737 - OASI Disability Determination
16739 - Federal Funds
.65
277,002.53
1,417,263.65
37.74
.65
206,328.03
2,401,467.35
37.74
Cash Balance Cash Balance
June 30, 1975 June 30, 1976
72.00 $ 72.00
262,196.90 333,309.50
109,331.39 248,173.98
701,156.55 301,297.92
1,193,537.78 1,247,339.86
1,821,273.38 852,696.77
71,041.77 107,031.76
122,218.75 206,416.31
799,956.52 217,968.19
18,566.70 13,179.00
-0- 1,632.00
134,501.82 111,630.40
65,819.31 78,431.47
1,502,030.92 1,556,197.67
190,711.84 3,434.72
47,017.23 -0-
85,711.59 76,765.02
5,016.65 8,198.39
6,674.17 6,546.70
20.00 20.00
77.31 77.31
17.54 517.54
11.30 11.30
REPORT OF STATE TREASURER 31
SPECIAL FUND CASH BALANCES - (Continued)
Cash Balance Cash Balance
State Departments and Budget Code Description June 30, 1975 June 30, 1976
Education:
Education, State Board of:
18803 - Elementary and Secondary Education Act
of 1965 -Title I-Federal $ 97,257.94 S 2,897,161.10
18804 - Elementary and Secondary Education Act of
1965 -Title II-Eederal 155,790.73 50,652.86
18805 - Elementary and Secondary Education Act of
1965 -Title V-Fcderal 24,073.43 6,170.74
18807 - Elementary and Secondary Education Act of
1965 -Title lll-lederal 15,971.93 49,921.33
18808 - Elementary and Secondary Education Act of
1965 -Title VI-A Federal 82.715.49 48.873.92
18811 -Special Funds 105,419.98 80,323.43
18816 - State Te.xtbook Fund 5,556,383.69 348,399.93
18826 -Community School Lunchroom Program . 5,010,816.08 389,934.32
18831 -Civil Defense Adult Education Program .. 13.846.17 13,846.17
18841 - Vocational (Occupational) Education -
Federal 9,000.00
18856 -Student Loan Fund -Teacher Education. . 1,787,818.34 1,505,454.36
18861 -Student Loan Fund - Rodman Trust Fund. 31,579.94 11,064.94
18863 - Student Loan Fund - Vocational and
Technical Education 2.386.69 4,021.57
18873 -National Defense Education Program. .. . 343,103.80 122,324.66
18874 -Manpower Development and Training Act
.
494,687.73 92,282.99
18875 -Occupational Research Projects 37,753.01 24,165.27
18876 - Driver Training and Safety Education ... 3,379,153.98 3,285,477.85
18877 - Community College - Unemployment
Insurnace Compensation 92,986.10 70.226.50
18882 -Governor's School 193.47 193.47
Education, Board of Higher:
18902 - State Commission of Higher Education. . .
Facilities 14.91 14.91
18970 -Special Operations 3.78 3.78
N. C. Agricultural and Technical University:
18905 - Auxiliary Institutional Services 477,671.65 243.680.06
18954 -Overhead Receipts 291,946.22 175,066.60
Appalachian State University:
18907- Au.xiliary Institutional Services 868,666.48 997,936.58
18955 -Overhead Receipts 57,507.10 7.158.68
Cultural Resources, Department of:
18981 - Special Operations 803,082.03 458,395.26
East Carolina University:
18904- Auxiliary Institutional Services 357,182.80 405,765.13
18953 -Off Campus Branches 72,683.10 106,824.15
18957 -Overhead Receipts 62,492.30 58,915.23
18995 - Special Operations 60,439.72 153,672.95
32 REPORT OF STATE TREASURER
SPECIAL FUND CASH BALANCES - (Continued)
State Departments and Budget Code Description
Elizabeth City State University:
18910 - Auxiliary Institutional Services
18965 -Overhead Receipts
Fayetteville State University:
18911 - Auxiliary Institutionally Services
18963 -Overhead Receipts
18991 - Special Operations
North Carolina Central University:
18912 - Auxiliary Institutional Services
18956 - Overhead Receipts
18971 - Special Operations ....."
North Carolina School of the Arts:
18964 - Auxiliary Services
North Carolina State university at Raleigh:
18940 - Clearing Account
18941 -Auxiliary Institutional Services
18942 - Overhead Receipts
18946 - Operation of Coliseum
18947 - Agricultural Experiment Station-I-'ederal. .
18948 - Cooperative Agricultural Extension Service
Smith Level - Federal
Pembroke State University:
18908 - Auxiliary Institutionaly Services
18962 - Overhead Receipts
18993 - Special Operations
Univershy of North Carolina at Asheville:
18913 - Auxiliary Institutional Services
18916 - Overhead Receipts
University of North Carolina at Chapel HiU:
18919 - Special Operations
18920 -Overhead Receipts
18921 - University Enterprises
18922 - Overhead Receipts
18923 - Institutional Services
18926 - Escheat Refund Account
18935 - North Carolina Memorial Hospital -
Special Fund
University of North Carolina at Charlotte:
18914 - Auxiliary Institutional Services
18917 -Overhead Receipts
18966 - Special Clearing Account
University of North Carolina at Greensboro:
18950 - Auxiliary Institutional Services
18952 -Overhead Receipts
Cash Balance Cash Balance
June 30, 1975 June 30, 1976
238,546.49 301,338.78
14,440.23 15,867.17
158,411.42 95,822.86
55,124.03 15,605.13
154,665.96 42,380.05
859,920.18 1,174,411.78
33,451.79 32,214.45
44,853.12 55,922.49
16,998.16 36,079.85
64,996.22 873,306.93
4,350.82 99,870.32
1,405,554.59 1,155,802.05
40,641.72 39,664.89
298,324.98 161,011.54
133,701.82 24,532.69
20,908.00 27,663.94
11,915.84 12,184.96
29.403.25 88.42
21,126.75 19,454.37
6,786.58 304.62
538,593.87 486,288.16
671,721.92 653,053.29
1,509,273.85 692,266.44
5,971,379.19 3,930,787.31
701,339.43 644,135.44
35.65 35.65
4,616,268.57 4,813.761.57
53,199.76 340,951.25
27,927.42 27,497.11
41,796.69 27,726.78
82,460.32 189,116.81
89,997.07 104,400.27
REPORT OF STATE TREASURER 33
SPECIAL FUND CASH BALANCES - (Continued)
State Departments and Budget Code Description
Western Carolina University:
18906 - Auxiliary Institutional Services 3
18958 -Overhead Receipts
18996 - Special Operations
University of North Carolina at Wilmington:
18915 - Auxiliary Institutional Services
18918 -Overhead Receipts
Winston-Salem State University:
18909 - Auxiliary Institutional Services
18996 - Special Operations
18997 -Overhead Receipts
Health, Welfare and Rehabilitation:
Human Resources. Department of:
24721 - Public Health Services - Federal Funds. . .
24723 - Public Health Services - Special Projects . .
24 725 - Social Services - Refunds of Medical
Assistance Payments
24727 - Social Services - Public Assistance -
Federal
24728 - Social Services - Child Support
Enforcement
24737 - Social Services - OASI Disability
Determination
24741 -Confederate Women's Home
24761 - Blind Services - Blind Aid - Federal
24821 - Medical Care Facility Services and
Licensure- Hospital Construction - Federal.
24824 - Medical Care FacOity Services and Licensure-
Hill - Burton Administration Account . . .
24825 - Division of Youth Services -
l-'ederal funds
24831 - Vocational Rehabilitation - federal
24845 - Mental Health Services - Community Fund
24846 - Mental Health Services - Federal
24847 - Dorothea Dix Hospital - Federal
24848 -O'Berry Center -Federal
24849 - Western Carolina Center - Federal
24850 - Murdoch Center- Federal
24851 - Caswell Center - Federal
24852 - Broughton Hospital- Federal
24853 - John Umstead Hospital - Federal
24854 - Cherry Hospital - Federal
24855 - Burner Area Central Services
24857 -Wright School- Federal
24901 - Medical FacOity Services and Licensure -
Student Loan Fund - Medical Education . .
24990 - N. C. School for the Deaf -
Clearing Account
Cash Balance Cash Balance
June 30, 1975 June 30, 1976
594,440.80 $ 465,326.73
18,432.73 42.949.13
28,917.65 -0-
23,783.79 2.155.05
24,763.88 23,837.48
16,482.45 12,308.28
32,116.80 2,677.48
50.413.73 40,249.03
1,147,874.19 796,322.52
827,597.87 1,624,397.77
1,529.137.89 1.273.012.82
3,729,130.30 1.160,947.93
105,061.74
221.004.70 108,471.76
112,999.52 71,447.46
203,027.41 442,738.56
85,500.00 180,000.00
19.49 19.49
63.378.53
132,014.74 86.396.10
35,966.75 43,542.34
815,659.91 1,189.84
66,694.39 46,444.27
82,387.17 40,260.93
35,707.87 68,868.37
32,216.30 75,248.57
46,522.44 87,017.78
49,880.43 50,628.17
72,578.42 33,316.26
42,384.04 35,421.21
206.202.80 259,522.09
4,197.80 6,081.97
114,445.60 72,861.90
2,009.00 5.082.33
34 REPORT OF STATE TREASURER
SPECIAL FUND CASH BALANCES - (Continued)
Cash Balance Cash Balance
State Departments and Budget Code Description June 30, 1975 June 30, 1976
Resources Development and Preservation:
Natural and Economic Resources, Department of:
26725 - Department of Natural and Economic
Resources $ 1,228,743.85 $ 1,258,938.09
26741 -WUdlife Resources Commission 1,217,073.68 2,078,928.87
26743 - Wildlife Resources Commission -
Motorboat Fund 134,111.69 355,909.30
26781 - Tennessee VaUey Authority 62,237.49 82,979.07
Agriculture:
Agriculture, Department of
28725 - North Carolina Milk Commission 252.05 252.05
28727 - Special Operations Fund 293,876.19 382,500.66
28741 -N. estate Fair 221,663.72 316,422.27
28751 -Special Depository Account 351,419.12 475,990.09
28755 -Operation of Farmers Market 91,609.49 45,076.40
Debt Service:
Bond Redemption:
34761 -Highway Fund Bond Redemption 1,000.00 126,000.00
34763 - General Fund Bond Redemption 1,947,600.00 5,532,600.00
Bond Interest:
34821 - Highway and General Fund Bond
Interest 3,133,850.38 6,444,126.13
Shared Federal Revenue;
35700-Reservefor Shared Federal Revenue .... 1,683,919.29 10,644,606.92
Total Special Fund $105,866,875.28 $104,565,524.46
REPORT OF STATE TREASURER 35
CAPITAL IMPROVEMENT FUNDS
Cash Balance Cash Balance
State Departments and Budget Code Description June 30, 1975 June 30, 1976
General Government:
Department of Administration
66702 Laws 1967 -State Land 1-und S 279,323.99 $ 422,540.31
66901 Laws 1969 119.016.72 -0-
67101 Laws 1971 760,926.57 226,137.89
67102 Laws 1971 - Aid to Municipal Waste
Treatment Plants 598,710.00 386,603.00
67177 Laws 1971 108,751.56 -0-
67301 Laws 1973 10,643,614.18 10,519,669.17
67362 Laws 1973 11,637,369.34 5,114,862.68
67401 Laws 1974 3,056,789.80 765,761.58
67462 Laws 1974 25,291.461.57 4,532,952.05
67501 Laws 1975 -0- 1,040,026.54
General Assembly
67403 Laws 1974 17.925.36 17,925.36
Department of Justice
67405 Laws 1974 1.013.647.72 279,925.28
Public Safety and Regulation:
North Carolina Department of Motor Vehicles
66561 Laws 1965 100,826.07 73.642.96
66974 Laws 1969 99,654.09 108,777.86
67172 Laws 1971 194,873.92 30,245.39
67358 Laws 1973 2,172.388.05 1,488,812.14
67558 Laws 1975 -0- 890,485.94
North Carolina Armory Commission
67103 Laws 1971 11,000.00 5.950.70
Department of Military and Veteran's Affairs
67303 Laws 1973 314,189.67 146.775.42
67519 Laws 1975 -0- 57,378.54
Corrections:
Department of Correction
66714 Laws 1967 1,479.43 -0-
66913 Laws 1969 219.854.85 152,568.59
67113 Laws 1971 52.551.97 37,016.60
67182 Laws 1971 454,013.70 53,858.09
67313 Laws 1973 312.655.90 166.785.59
67364 Laws 1973 5.627,876.49 434,999.75
67413 Laws 1974 1.673,663.30 1.075,978.98
67465 Laws 1974 17.272.566.97 24.001.135.96
State Training School for Girls
67109 Laws 1971 229,173.77 219.288.90
Juvenile Evaluation Center
67181 Laws 1971 48,363.65 18,974.71
36 REPORT OF STATE TREASURER
CAPITAL IMPROVEMENT FUNDS (Continued)
Cash Balance
State Departments and Budget Code Description June 30, 1975
Cameron Morrison School
67180 Laws 1971 $ 59,258.71
Samarkand Manor
67106 Laws 1971 45,055.80
67179 Laws 1971 80.84
Samuel Leonard School
67110 Laws 1971 147,282.00
Stonewall Jackson School
67178 Laws 1971 57,322.08
67365 Laws 1973 -0-
Division of Youth Services
67352 Laws 1973 -0-
67450 Laws 1974 -0-
67466 Laws 1974 -0-
67553 Laws 1975 -0-
*
Education:
Public School Facilities Fund
66399 Laws 1963 Bond (Voted) 2,629,387.66
67399 Laws 1973 225,704,034.97
Department of Public Education
67319 Laws 1973 26,463.09
Vocational Education
67119 Laws 1971 - N. C. Vocational Textile
School 290.48
67120 Laws 1971 -Vocational Rehabilitation . . . 267,481.19
Department of Community Colleges
66738 Laws 1967 2,000.00
67121 Laws 1971 783,149.31
67320 Laws 1973 14,104,268.10
67420 Laws 1974 9,515,392.78
67520 Laws 1975
Appalachian State University
66930 Laws 1969 125,176.47
67130 Laws 1971 47,296.59
67330 Laws 1973 316,329.31
67389 Laws 1973 3,734,066.71
67430 Laws 1974 142,412.63
67530 Laws 1975 -0-
67589 Laws 1975 -0-
East Carolina University
66927 Laws 1969 122,505.19
67186 Laws 1971 224,273.48
67336 Laws 1973 712,700.15
67395 Laws 1973 1,694,392.82
Cash Balance
June 30, 1976
11,064.07
-0-
-0-
139,994.55
13,400.36
1,242,278.80
90,989.20
139,346.45
1,621,566.52
70,000.00
857.908.77
123,538,524.95
290.48
165,881.86
2,000.00
229,430.70
6,676,080.46
7.362,025.95
3,710.00
94,291.64
-0-
5,224.67
866,735.73
168,841.47
45,606.50
3,328,000.00
32,847.73
97,711.18
85,634.64
834.720.54
REPORT OF STATE TREASURER 37
CAPITAL IMPROVEMENT FUNDS (Continued)
Cash Balance Cash Balance
State Departments and Budget Code Description June 30, 1975 June 30, 1976
East Carolina University (Continued)
67436 Laws 1974 $ 2,293,289.15 $ 77,833.95
67536 Laws 1975 -0- 7,046,638.25
Elizabeth City State University
67133 Laws 1971 308,923.96 2,061.67
67191 Laws 1971 7,920.69 1,957.50
67333 Laws 1973 240,640.36 681.36
67392 Laws 1973 10,239.07 826,383.04
67433 Laws 1974 189,870.86 13,924.22
67533 Laws 1975 -0- 220,000.00
67592 Laws 1975 -0- 1,204,000.00
Fayetteville State University
66934 Laws 1969 36,010.59 -0-
67134 Laws 1971 205,876.08 18,299.53
67192 Laws 1971 1,096,711.83 361,985.27
67334 Laws 1973 131.960.53 21,610.02
67393 Laws 1973 6,000.00 5,229.26
67434 Laws 1974 -0- 41,765.02
67593 Laws 1975 -0- 4,380,000.00
N. C. Agricultural and Technical State University
67137 Laws 1971 54,922.53 5,985.38
67187 Laws 1971 3,285.168.11 2,651,847.51
67337 Laws 1973 59,742.91 214,199.15
67396 Laws 1973 64,604.50 55,566.50
67437 Laws 1974 113,418.34 246,984.47
67537 Laws 1975 -0- 91,867.49
67594 Laws 1975 -0- 2,127,000.00
University of N. C. Board of Governors
67321 Laws 1973 11,560,173.00 2,708,243.16
67340 Laws 1973 27,788.04 309,881.22
67380 Laws 1973 14,585,199.56 5,876,347.32
67421 Laws 1974 3,892,771.00 2,209,057.00
67521 Laws 1975 -0- 16,872,028.00
67580 Laws 1975 -0- 1,500,000.00
North Carolina Central University
66935 Laws 1969 8,079.39 2,816.20
67135 Laws 1971 4,387.49 2,011.62
67193 Laws 1971 1,818,920.61 462,540.40
67335 Laws 1973 1,267,635.01 270,507.92
67435 Laws 1974 13,240.37 45.865.32
67535 Laws 1975 -0- 262,520.00
North Carolina School of the Arts
66940 Laws 1969 2,870.62 2,870.62
67138 Laws 1971 64,446.81 64,446.81
67338 Laws 1973 5,899.82 56,096.29
67438 Laws 1974 -0- 11,176.66
67497 Laws 1974 3,684,842.41 2,732,835.77
38 REPORT OF STATE TREASURER
CAPITAL IMPROVEMENT FUNDS (Continued)
Cash Balance Cash Balance
State Departments and Budget Code Description June 30, 1975 June 30, 1976
North Carolina State University at Raleigh
67124 Laws 1971 $ 313,864.34 $ 280,678.80
67183 Laws 1971 2,132,855.07 572,781.33
67324 Laws 1973 1,996,652.75 406,161.97
67383 Laws 1973 136,837.58 1,842,336.35
67424 Laws 1974 548,103.47 361,190.92
67524 Laws 1975 -0- 81,464.62
67583 Laws 1975 -0- 2,705,000.00
Pembroke State University
66931 Laws 1969 2,248.15 -0-
67131 Laws 1971 41,110.94 31,954.09
67189 Laws 1971 88,152.24 -0-
67390 Laws 1973 982,310.61 392,256.74
67431 Laws 1974 101,964.17 153,168.23
67531 Laws 1975 -0- 785.65
67590 Laws 1975 -0- 2,335,000.00
University of North Carolina at Asheville
67127 Laws 1971 20,734.64 -0-
67327 Laws 1973 373,950.18 45,919.29
67386 Laws 1973 3,350.55 190.10
67427 Laws 1974 82,295.19 48,383.40
67527 Laws 1975 -0- 88,090.00
67586 Laws 1975 -0- 1,900,000.00
University of North Carolina at Chapel HiU
66514 Laws 1965 -Health Affairs 90,178.46 29,030.76
66721 Laws 1967 U.N. C. (Consolidated) 354,608.59 1.40
66722 Laws 1967 -Health Affairs 51,491.02 .68
66723 Laws 1967 -Academic Affairs 480,083.74 449,163.48
66921 Laws 1969 -(Consolidated) 167,824.31 2.61
66922 Laws 1969 -Health Affairs 751,060.89 421,204.95
66923 Laws 1969 -Academic Affairs 286,544.12 108,352.05
67122 Laws 1971 - Health Affairs 1,021,823.87 438,851.27
67123 Laws 1971 -Academic Affairs 2,280,691.15 1,637,291.32
67322 Laws 1973 -Health Affairs 11,089,660.00 10,150,135.89
67323 Laws 1973 -Academic Affairs 846,236.75 266,642.22
67382 Laws 1973- Academic Affairs 3,461,135.20 2,474,482,67
67422 Laws 1974 -Health Affairs 25,000.00 40,057.52
67423 Laws 1974 - Academic Affairs 1,680,772.74 1,174,166.84
67522 Laws 1975 - Health Affairs -0- 13,841,179.52
67523 Laws 1975 -Academic Affairs -0- 369,657.70
67582 Laws 1975 -0- 5,372,000.00
University of North Carolina at Charlotte
66926 Laws 1969 59,044.04 49,682.69
67126 Laws 1971 4,743.45 122.02
67326 Laws 1973 190,138.03 26,290.96
67385 Laws 1973 488,102.29 27,633.60
67426 Laws 1974 284,429.88 247.818.50
67526 Laws 1975 -0- 37,952.93
67585 Laws 1975 -0- 6,000,000.00
REPORT OF STATE TREASURER 39
CAPITAL IMPROVEMENT FUNDS (Continued)
Cash Balance Cash Balance
State Departments and Budget Code Description June 30, 1975 June 30, 1976
University of North Carolina at Greensboro
66725 Laws 1967 $ 24,068.06 $ 24,068.06
66925 Laws 1969 106,766.97 106,569.44
67125 Laws 1971 15,614.36 5,721.58
67184 Laws 1971 360,858.56 42,919.93
67325 Laws 1973 494,216.36 133,846.76
67384 Laws 1973 21,940.80 1,947,440.74
67425 Laws 1974 125,000.00 94,188.09
67525 Laws 1975 -0- 63,350.19
67584 Laws 1975 -0- 5.153,000.00
University of North Carolina at Wilmington
67128 Laws 1971 23,613.80 62.20
67328 Laws 1973 30,768.71 33,269.00
67387 Laws 1973 133,741.61 -0-
67428 Laws 1974 71,314.40 5,339.93
67528 Laws 1975 -0- 134,506.97
67587 Laws 1975 -0- 1,665,000.00
Western Carolina University
66929 Laws 1969 519,010.45 120,622.87
67129 Laws 1971 115.940.58 49,578.35
67188 Laws 1971 3,156.286.89 1,516,888.61
67329 Laws 1973 222.089.70 74,262.52
67388 Laws 1973 298.264.49 168,560.81
67429 Laws 1974 82,619.81 251,490.81
67529 Laws 1975 -0- 176,925.84
67588 Laws 1975 -0- 3,423,000.00
Winston-Salem State University
66932 Laws 1969 70,240.71 -0-
67132 Laws 1971 440.69 -0-
67190 Laws 1971 108,833.28 6,828.08
67332 Laws 1973 46,503.92 109,661.83
67391 Laws 1973 293,110.99 1,186,568.76
67432 Laws 1974 104,602.60 41,674.73
67591 Laws 1975 -0- 2,183,841.12
Non-Highway Transportation:
State Ports Authority
67169 Laws 1971 829,284.77 217,567.02
67363 Laws 1973 4,730,347.29 2,779,909.81
67463 Laws 1974 3,780.244.50 3,767.821.00
Health and Hospitals:
Department of Human Resources
67540 Laws 1975 -0- 1,674,000.00
Lenox Baker Cerebral Palsy and Crippled Children's Hospitals of N. C.
67377 Laws 1973 373,853.56 283,591.01
40 REPORT OF STATE TREASURER
CAPITAL IMPROVEMENT FUNDS (Continued)
State Departments and Budget Code Description
Department of Mental Health
66951 Laws 1969
67351 Laws 1973
67451 Laws 1974
Medical Care Commission
66751 Laws 1967
66950 Laws 1969
67350 Laws 1973
The Governor Morehead School
67374 Laws 1973
67548 Laws 1975
Alcoholic Rehabilitation Center - Black Mountain
67343 Laws 1973
Broughton Hospital
66954 Laws 1969
67154 Laws 1971
67367 Laws 1973
67542 Laws 1975
Alcoholic Rehabilitation Center - Greenville
67345 Laws 1973
University of North Carolina - Memorial Hospital
67143 Laws 1971
67348 Laws 1973
67349 Laws 1973
67398 Laws 1973
67449 Laws 1974
Central North Carolina School for the Deaf
67141 Laws 1971
67550 Laws 1975
North Carolina School for the Deaf
67142 Laws 1971
67375 Laws 1973
67475 Laws 1974
67549 Laws 1975
Eastern North Carolina Specialty Hospital
66963 Laws 1969
67551 Laws 1975
67552 Laws 1975
Western North Carolina Spcialty Hospital
67162 Laws 1971
67453 Laws 1974
O'Berry Center
67157 Laws 1971
67370 Laws 1973
Cash Balance
June 30, 1975
Cash Balance
June 30, 1976
301,523.00
2,207,771.58
2,926,718.50
$ 86,951.14
192,134.26
2,040,037.09
1,727.79
10,000.00
304,280.00
1,727.79
-0-
47,337.00
2,959,397.64
-0-
1,891,295.06
56,766.73
188,288.39 27,029.62
110,223.55
40,386.57
529,374.08
-0-
2,052.00
12,829.40
93,594.09
318,737.86
253,402.17 9,352.43
2,027,147.37
2,501.92
4,305,639.35
8,053,990.16
27,604.69
104,634.32
-0-
2,971,982.40
10,547,881.92
3,130.80
976,765.72
-0-
11,947.58
205,424.23
19,850.76
357,563.65
415,272.72
-0-
4,566.97
205,446.69
49,868.01
28,984.44
10,494.08
-0-
-0-
-0-
562,908.72
35,578.36
3,950.20
277,320.00
1,462.78
362,137.39
9,901.36
155,894.88
4,127.32
160,455.79
1
REPORT OF STATE TREASURER 4
1
CAPITAL IMPROVEMENT FUNDS (Continued)
State Departments and Budget Code Description
O'Berry Center (Continued)
67452 Laws 1974
67545 Laws 1975
Western Carolina Center
66955 Laws 1969
67155 Laws 1971
67368 Laws 1973
67544 Laws 1975
Alcoholic Rehabilitation Center - Butner
67344 Laws 1973
Vocational Rehabilitation
67347 Laws 1973
Wright School
67173 Laws 1971
67346 Laws 1973
Caswell Center
67160 Laws 1971
67373 Laws 1973
67547 Laws 1975
Cherry Hospital
66755 Laws 1967
67156 Laws 1971
67196 Laws 1971
67369 Laws 1973
67469 Laws 1974
67543 Laws 1975
Dorothea Di.\ Hospital
66953 Laws 1969
67153 Laws 1971
67195 Laws 1971
67366 Laws 1973
67541 Laws 1975
John Umstead Hospital
66958 Laws 1969
67158 Laws 1971
67197 Laws 1971
67371 Laws 1973
67454 Laws 1974
Murdoch Center
67159 Laws 1971
67372 Laws 1973
67546 Laws 1975
McCain Hospital
67554 Laws 1975
Cash Balance
June 30, 1975
Cash Balance
June 30, 1976
35,000.00
-0-
$ 8,312.90
399,945.82
28,737.14
641.51
843,121.27
-0-
-0-
23.51
101.986.99
1,108,369.38
225,855.62 77,486.28
587,699.48 182,159.12
406.35
17,544.03
-0-
8.759.32
66,836.03
1,437,757.52
-0-
16,844.15
515,043.02
828,729.46
91.439.47
300,681.20
253,962.85
3,534.273.46
602,934.76
-0-
-0-
13,623.17
2,973.08
3,037,111.93
23,046.46
438.052.72
26,411.11
63,023.98
221.981.09
1,950,597.77
-0-
^ -0-
-0-
98,683.81
147,405.80
198,310.81
14,603.61
4,001.71
15,544.56
487,004.77
446,566.96
• 14,603.61
4,001.71
9,226.63
293,603.63
614,918.79
19.493.73
738,986.69
-0-
18,191.16
145,120.30
560,122.90
-0- 62,836.39
42 REPORT OF STATE TREASURER
CAPITAL IMPROVEMENT FUNDS (Continued)
State Departments and Budget Code Description
State Commission for the Blind
67116 Laws 1971
Natural and Economic Resources:
Department of Natural & Economic Resources
66965 Laws 1969
66966 Laws 1969 - Kerr Reservoir Development
67165 Laws 1971
67316 Laws 1973
67378 Laws 1973
67416 Laws 1974
67478 Laws 1974
67516 Laws 1975
Tryon Palace
67167 Laws 1971
Wildlife Resources Commission
67174 Laws 1971
67357 Laws 1973
Department of Water and Air Resources
66767 Laws 1967
66967 Laws 1969
N. C. Zoological Park Facilities
67205 Laws 1972
Cash Balance
June 30, 1975
Cash Balance
June 30, 1976
17,789.62 $
200,740.04
3,620.50
291,060.57
2,464,710.43
41,613.31
3,448,831.55
43,472.91
-0-
696.41
672,469.39
182,787.73
87,819.75
741.998.66
1,053,814.84
Agriculture:
Department of Agriculture
66970 Laws 1969 67,520.05
67170 Laws 1971 30,578.62
67317 Laws 1973 214,480.39
67379 Laws 1973 3,100,607.47
67417 Laws 1974 999,000.00
67479 Laws 1974 2,590,652.49
67517 Laws 1975 -0-
N. C. State University - Experiment Station
67171 Laws 1971 192,606.25
Clear Water Fund
67201 Laws 1972 3,704,398.05
67202 Laws 1972 57,934,920.00
67203 Laws 1972 62,089,698.00
Cultural Resources:
Department of Cultural Resources
66335 Laws 1963 10.57
67139 Laws 1971 88,826,89
67194 Laws 1971 31,462,37
4,886.00
10,817.25
-0-
131,916.48
672,079.91
-0-
463,864.71
2,198,448.93
3,605,014.90
18,947.80
367,617.90
171,334.08
-0-
111,679.73
565,063.87
20,186.39
20,148.54
15,376.34
1,793,154.79
663,130.91
589,257.52
210,773.28
47,482.65
3,263,896.83
46,642,997.00
45,212,761.00
10.57
35,370.07
20.95
REPORT OF STATE TREASURER 43
CAPITAL IMPROVEMENT FUNDS (Continued)
State Departments and Budget Code Description
Department of Cultural Resources (Continued)
67339 Laws 1973
67439 Laws 1974
67418 Laws 1975
Unencumbered Balance Reserve:
67555 Laws 1975
Legislative Bonds
67199 Laws 1971
Direct Appropriation
67175 Laws 1971
67360 Laws 1973
Federal Revenue Sharing
67361 Laws 1973
67461 Laws 1974
Cash Balance
June 30, 1975
Cash Balance
June 30, 1976
$ 1,201,575.81
92,708.70
-0-
S 278,202.02
4,415.83
125,512.60
-0- 174,172.00
291,635.00 1,500.00
330.670.76
5,270.00
-0-
38,982.00
55,477.00
-0-
34,000.00
61,355.00
$615,158,039.84 5471,371,663.12
44 REPORT OF STATE TREASURER
STATEMENT OF THE STATE BONDED DEBT
Balance
Date Average Outstanding
of Interest June 30, 1975 June 30, 1976
][ssue Cost (Note 1)
GENERAL FUND
Capital Improvement .... . 5/ 1/1959 3.245 $ 400,000.00 $ 300,000.00
11/ 1/1959 3.291 2,400,000.00 1,800,000.00
5/ 1/1960 3.014 2,800,000.00 2,300,000.00
11/ 1/1960 2.860 3,000,000.00 2,400,000.00
8/ 1/1961 2.976 6,000,000.00 5,000,000.00
10/ 1/1963 2.834 14,800,000.00 9,800,000.00
3/ 1/1966 3.249 12,220,000.00 10,500,000.00
12/ 1/1971 4.344 43,500,000.00 42,500,000.00
85,120,000.00 74,600,000.00
Public School Facilities. . . .11/ 1/1957 2.393 1,000,000.00 500,000.00
5/ 1/1958 2.750 1,500,000.00 1,000,000.00
9/ 1/1965 3.000 19,650,000.00 18,500,000.00
3/ 1/1966 3.473 27,800,000.00 26,800,000.00
3/ 1/1967 3.416 31,300,000.00 30,000,000.00
12/ 1/1974 5.437 45,000,000.00 44,000,000.00
12/ 1/1975 5.143 105,000,000.00
6/ 1/1976 5.430 50,000,000.00
126,250,000.00 275,800,000.00
Clean Water Bonds Series A .12/ 1/1974 5.436 29,500,000.00 28,500,000.00
12/ 1/1975 5.143 15,000,000.00
6/ 1/1976 5.430 25,000,000.00
29,500,000.00 68,500,000.00
Bond Anticipation Notes:
Public School Facilities. . 6/18/1975 55,000,000.00
Clean Water . 6/18/1975 10,000,000.00
65,000,000.00
Total General Fund 305,870,000.00 418,900,000.00
REPORT OF STATE TREASURER 45
STATEMENT OF THE STATE BONDED DEBT - (Continued)
Balance
Date Average Outstanding
of Interest June 30, 1975 June 30, 1976
Issue Cost (Note 1)
HIGHWAY 1 UNO
Highway Bonds 2/ 1/1967
8/ 1/1967
8/ 1/1968
2/ 1/1971
3.204 S 28,000,000.00 S 26,000,000.00
3.686 30,000,000.00 27,000,000.00
3.627 30,000,000.00 27,000.000.00
3.791 75.000,000.00 65,000,000.00
Total Highway Fund (Note 2) 163,000,000.00 145,000,000.00
Total State Bonded Debt $468,870,000.00 $563,900,000.00
Notes (1) July 1st maturities shown as retirements in previous year - the year in which funds were
appropriated.
(2) The Highway I-und Bonds have a one cent per gallon gasoline tax pledged exclusively to
pay both principal and interest.
46 REPORT OF STATE TREASURER
ANNUAL DEBT REQUIREMENTS
From July 1, 1975
(July 1, maturities of principal and interest are included in preceeding fiscal years)
Fiscal
Year
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
GENERAL FUND BONDS
Principal
$ 16,970,000
18,300,000
18,900,000
19,400,000
20,300,000
20,800,000
22,000,000
22,300,000
22,700,000
22,700,000
17,500,000
16,500,000
15,500,000
15,500,000
15,500,000
13,500,000
11,500,000
10,500,000
10,500,000
10,500,000
10,500,000
9,000,000
$360,870,000
Principal
& Interest
$ 28,600,082
33,837,000
33,760,950
33,565,000
33,748,550
33,553,700
33,962,550
33,372,000
32,732,000
31,619,500
25,303,000
23,482.500
21,652,000
20,872,500
20,084,000
17,333,500
14,668,000
13,044,000
12,477,000
11,910,000
11,367,500
9,342,500
$530,287,832
HIGHWAY FUND BONDS
Principal
18,000,000
18,000,000
23,000,000
23,000,000
22,000,000
17,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
5,000,000
2,000,000
Principal
& Interest
$ 23,776,500
23,156,000
27,522,500
26,691,000
24,861,000
19,030,500
8,392,000
8,142,000
7,910,000
7,664,000
7,417,500
5,208,500
2,037,500
$163,000,000 $191,809,000
REPORT OF STATE TREASURER 47
STATEMENT OF SECURITIES HELD IN TRUST
Par Value Par Value
Description June 30, 1975 June 30, 1976
Securities Held in Safekeeping;
Atlantic & East Carolina Railroad Company. ... $ 50,000.00 $ 50,000.00
Atlantic & North Carolina Railroad Company. . . 73,500.00 73,500.00
Department of Agriculture:
State Warehouse System 669,780.00 693,860.00
Department of Human Resources:
Dorothea Di.\ Hospital-Patient's Fund 95,000.00 95,000.00
Educational Leave & Grant Notes 235,269.68 266,759.20
*Medical Care Commission 4,098,515.34 4,913,870.60
Department of Insurance:
State Property Fire Insurance Fund 6,700.000.00 7,200,000.00
Workmen's Compensation Security Fund .. . 3,114,000.00 3,359,000.00
Department of Public Education:
Literary Loan Fund 3,345.490.00 1,383,170.00
Public School Insurance Fund 7,410,000.00 8,500,000.00
Rodman Trust I' und 75,000.00 100,000.00
Scholarship Loans for Prospective Teachers . 5.364,748.58 4,927,832.87
Scholarship Loans for Prospective Teachers
of the Mentally Retarded 377,089.10 409,784.45
Department of State Auditor:
Firemen's Pension Fund 9.775,000.00 10,975,000.00
Law Enforcement Officer's Benefit and
Retirement Fund 100,658,500.00 120.159.000.00
Department of State Treasurer:
Escheat Fund 5.500,000.00 7.990.000.00
Local Governmental Employees' Retirement
System 269.167,118.35 304.540,033.17
N. C. Employee Disability Fund 15,550,000.00 16,050,000.00
N. C. Housing Finance Agency 4,500,000.00 4,500.000.00
Teachers & State Employees' Retirement
System 1,909,787,621.26 1,108,622,351.83
Uniform Clerks of Superior Court Retirement
System of North Carolina -0- 900,000.00
Uniform Judicial Retirement System of
North Carolina 2,250,000.00 3,500,000.00
Uniform Solicitorial Retirement System of
North Carolina -0- 500,000.00
North Carolina State Education Assistance Authority . 2,250,000.00 2,650,000.00
$2,351,046,632.31 51,612.359.162.12
*The State Treasurer does not maintain a balance on these loans. Balances provided by the de-positing
agency.
48 REPORT OF STATE TREASURER
STATEMENT OF SECURITIES HELD IN TRUST - (Continued)
Par Value Par Value
Description June 30, 1975 June 30, 1976
Securities Held as Good Faith Deposits:
North Carolina Department of Agriculture .... $ 41,250.00 $ 62,250.00
North Carolina Department of Insurance:
Collateral Securities 63,288,000.00 69,187,000.00
Professional Bail Bondsman 5,075.00 1,593,469.19
North Carolina Department of Motor Vehicles . . 100.00 100.00
North Carohna Department of Revenue 337,500.00 329,000.00
North Carolina Industrial Commission 1,261,000.00 936,000.00
$ 64,932,925.00 $ 72,107,819.19
Securities owned by the State:
(other than temporary investments of Treasurers
cash balances)
North Carolina Railroad Company
(30,002 shares) $ 3,000,200.00 $ 3,000,200.00
Atlantic & North Carolina Railroad Company
(12,666 shares) 1,266,600.00 1,266,600.00
$ 4,266,800.00 $ 4,266,800.00
REPORT OF STATE TREASURER 49
GENERAL FUND
STATEMENTS OF REVENUES AND EXPENDITURES
(As Prepared from Records of Director of Budget)
Years Ended June 30, 1975 and 1976
AVAILABILITY 1974-75 1975-76
Balance July 1 $ 174,697.888 $ 54,925,972
Rl VENUES
Inheritance Tax 26,202,077 28,280,942
License Tax 11,299,815 11,270,992
Cigarette Tax 20,753,314 21,473,062
Soft Drink Tax 18,110,432 19,765,341
Franchise Tax 111,742,188 130,193,042
Income Tax 715,401,376 760,478,534
Sales and Use Tax 423,006,813 464,756,311
Beverage Tax 70,042,026 73,323,247
Gift Tax 1,522,474 1,705.245
I-reight Car Lines 161,105 192,262
Insurance Tax 47,999,930 54,809,184
Taxation of Banks 290,857 341,961
Taxation of Building and Loan Association 4,459,929 5,063,821
Miscellaneous 191,764 191,510
Total Under Revenue Act $1,451,184,100 $1,571,845,454
Non-Tax Revenue (Earnings. Fees, Dividend, etc.) .... 92,912.952 125,012,276
Total General Fund Revenues $1,544,097,052 $1,696,857,730
Total General Fund AvaUabUity $1,718,794,940 $1,751,783,702
EXPENDITURES
Legislative $ 4,563,088 $ 3,018,202
Judicial 39,385,118 40,988,613
General Government 57,112,189 51,342,232
Public Safety and Regulations 16,614,939 16,169,987
Corrections 70,743,705 66,428,299
Education 1,157,765,538 1,154,193,751
Health, Welfare and Rehabilitation 246,757,184 274,169,121
Resource Development and Preservation 22,920,378 21,883.788
Agricuhure 11,939,756 11,686,499
Debt Service (98,264) 30,130,770
Capital Improvement - Direct Appropriation 36,165.337 23,948,648
Total General Fund Expenditures $1,663,868,968 $1,693,959,910
Total General Fund Credit Balance June 30 $ 54,925,972 $ 57,823,792
Note: (1) The Federal Revenue Sharing Trust Fund balance of $1,683,918.77 is not included in
this figure.
(2) The Federal Revenue Sharing Trust Fund balance of $10,644,606,92 is not included in
this figure.
50 REPORT OF STATE TREASURER
HIGHWAY FUNDS
STATEMENT OF REVENUES AND EXPENDITURES
(As Prepared from Records of Director of Budget)
Years Ended June 30, 1975 and 1976
AVAILABILITY 1974-75 1975-76
Balance July 1 $110,948,079 $154,354,274
REVENUES
State Revenue 384,936,223 432,961,503
Federal Aid Participation Revenue 277,879,207 51,670,805
Cities and Towns Participation Revenue 3,687,960 2,847,515
Property Owners Participation Revenue 739,184 770,708
State Aid 5,012,654 5,286,093
Total Revenues $672,255,228 $493,536,624
Total AvaUability $783,203,307 $647,890,898
EXPENDITURES
Department of Revenue $ - $ 644,445
Department of Public Education 3,778,810
Department of Agriculture 849,612 1,031,374
Department of Commerce 329,795 354,755
Department of Administration 355,898
Department of Transportation 599,119,418 496,959,334
Debt Service 24,415,500 51,270,000
Total Expenditures $628,849,033 $550,259,908
Balance June 30 $154,354,274 $ 97.630,990
REPORT OF STATE TREASURER 51
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52 REPORT OF STATE TREASURER
HIGHWAY BOND RESERVE OF HIGHWAY FUNDS
Year Ending Receipts from Debt Fund
June 30th \i Gas Tax Requirements Balance
1967 $13,312,450 $ 1,200,000 $12,112,450
1968 21,948,400 19,263,581 14,797,269
1969 23,395,354 21,556,250 16,636,373
1970 24,763,829 26,683,566 14,716,636
1971 26,057,774 23,087,500 17,686,910
1972 28,210,781 32,617,500 13,280,191
1973 30,299,163 25,749,000 17,830,354
1974 30,786,684 25,083,000 23,534,038
1975 30,474,406 23,776,500 30,231,944
1976 31,936,647 23,156,000 39,012,591
REPORT OF STATE TREASURER
INTEREST RATES ON CERTIFICATES OF DEPOSIT
53
Effective Date
October 6, 1953
I'cbruary 4, 1954
November 19, 1954
March 2, 1955
April 16, 1955
August 9, 1955
September 9, 1955
November 29, 1955
October 1, 1956
January 3, 1958
January 27, 1958
February 17, 1958
April 9, 1958
June 17,1958
August 8, 1958
August 15, 1958
August 27, 1958
September 16, 1958
December 12, 1958
June 5, 1959
April 5, 1960
April 13, 1960
May 13, 1960
August 10, 1960
September 21, 1960
January 16, 1961
December 12, 1961
July 5, 1963
July 18, 1963
November 27, 1963
November 30, 1964
September 25, 1965
December 7, 1965
January 6, 1966
July 14, 1966
August 24, 1966
December 20, 1966
January 18, 1967
March 14, 1967
March 24, 1967
April 27, 1967
July 21, 1967
September 27, 1967
November 27, 1967
February 6, 1968
March 19, 1968
April 23, 1968
May 23. 1968
June 24, 1968
Rate
1.75%
1.50
1.25
1.50
1.75
2.00
2.25
2.50
NA
3.00
2.625
2.00
1.50
1.25
1.625
2.00
2.50
2.75
3.00
NA
3.00
NA
3.00
2.50
2.75
2.50
3.00
3.25
3.50
3.75
4.00
4.20
4.50
4.75
5.00
5.50
5.125
4.875
4.50
4.25
4.00
4.75
5.125
5.50
5.25
5.50
5.75
6.00
5.75
Effective Date
July 31, 1968
November 27, 1968
December 31, 1968
January 21, 1970
March 20, 1970
September 25, 1970
November 12, 1970
November 25, 1970
December 29, 1970
January 14, 1971
February 1, 1971
March 10, 1971
May 12, 1971
June 11, 1971
June 22, 1971
July 20, 1971
August 26, 1971
October 26, 1971
November 17, 1971
January 20. 1972
April 10, 1972
August 29. 1972
September 29, 1972
January 16, 1973
February 5, 1973
March 7, 1973
AprU3, 1973
June 20, 1973
July 2, 1973
July 23, 1973
August 8, 1973
October 2, 1973
October 30, 1973
November 14, 1973
January 8, 1974
February 8, 1974
March 20, 1974
April 2, 1974
May 1, 1974
August 7, 1974
September 3, 1974
October 1, 1974
October 18, 1974
November 12, 1974
January 7, 1975
January 21. 1975
February 4, 1975
March 4, 1975
June 2, 1975
Rate
5.50%
5.75
6.25
7.50
7.00
6.50
6.00
5.50
5.25
5.00
4.50
4.00
4.375
4.75
5.25
5.75
5.00
4.75
4.50
4.00
4.50
5.00
5.375
5.625
6.00
6.50
7.00
7.50
8.00
8.50
9.00
8.50
7.75
8.50
8.00
7.625
8.00
8.375
9.00
9.50
10.00
9.25
8.75
8.25
7.75
7.25
6.75
6.25
6.00
54 REPORT OF STATE TREASURER
INTEREST RATES ON CERTIFICATES OF DEPOSIT (Continued)
Effective Date Rate Effective Date Rate
5.50%
5.25
5.875
5.50
5.75
6.125
NA - Indicates period during which the current interest rate on U. S. Treasury Obligations ex-ceeded
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)
June 18,1975 5.50% January 13, 1976
June 24, 1975 6.00 February 3, 1976
July 9, 1975 6.50 March 2, 1976
August 5, 1975 7.00 AprU6,1976
October 23, 1975 6.50 May 17, 1976
November 4, 1975 6.125 May 26,1976
s^^^^^mm*
?
I