Notes to the Financial Statements
June 30, 2009
Note 7 Receivables - Noncurrent
Noncurrent receivables for the primary government and its component units, as of June 30, 2009, consisted of the following (amounts in thousands):
| Primary Government | |||
|---|---|---|---|
| Governmental | Business-Type | Component | |
| Activities | Activities | Units | |
| Accounts | $ - | $ - | $ 47,656 |
| Loans | 245,386 | 610,889 | 129,958 |
| Total Receivables | 245,386 | 610,889 | 177,614 |
| Allowance for Uncollectibles | (9,568) | (2,865) | (11,533) |
| Receivables, Net | $ 235,818 | $ 608,024 | $ 166,081 |
The Clean Water fund (business-type activities) loans funds to qualified municipalities for planning, design, and construction of water quality projects. These loans are payable over a 20 year period at an annual interest rate of 2 percent and are secured by the full faith and credit or revenue pledges of the municipalities, or both. At year end, the noncurrent portion of loans receivable was $528 million.
The Connecticut Higher Education Supplemental Loan Authority (a component unit) makes loans to individuals from the proceeds of bonds issued by the Authority. The loans bear interest rates ranging from 0 percent to 9.7 percent. At year end, the noncurrent portion of loans receivable was $106.9 million.