Notes to the Financial Statements

June 30, 2012

Note 7 Receivables - Noncurrent

Noncurrent receivables for the primary government and its component units, as of June 30, 2012, consisted of the following (amounts in thousands):

Primary Government
Governmental Business-Type Component
Activities Activities Units
Accounts $- $- $22,972
Loans 337,038 737,450 167,072
Total Receivables 337,038 737,450 190,044
Allowance for Uncollectibles (2,344) (2,960) (8,899)
Receivables, Net $334,694 $734,490 $181,145

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 $651.7 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 $103.8 million.