Notes to the Financial Statements

June 30, 2013

Note 7 Receivables - Noncurrent

Noncurrent receivables for the primary government and its component units, as of June 30, 2013, consisted of the following (amounts in thousands):

   Primary Government  
   Governmental    Business-Type    Component
   Activities    Activities    Units
Accounts    $-    $-    $31,615
Loans    452,346    849,756    157,888
Total Receivables    452,346    849,756    189,503
Allowance for Uncollectibles    (12,410)    (3,079)    (9,839)
Receivables, Net    $439,936   $846,677    $179,664

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 $768.7 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 9.2 percent. At year end, the noncurrent portion of loans receivable was $102.7 million.