State of Connecticut

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.