Notes to the Financial Statements
Note 6 Receivables - Noncurrent
June 30, 2015
Noncurrent receivables for the primary government and its component units, as of June 30, 2015, consisted of the following (amounts in thousands):
| Primary Government | |||
|---|---|---|---|
| Governmental | Business-Type | Component | |
| Activities | Activities | Units | |
| Accounts | $ - | $ - | $ 30,928 |
| Loans | 687,334 | 840,143 | 640,935 |
| Total Receivables | 687,334 | 840,143 | 671,863 |
| Allowance for Uncollectibles | (14,361) | (5,035) | (152,566) |
| Receivables, Net | $ 672,973 | $ 835,108 | $ 519,297 |
The Grants and Loans fund (governmental activities) makes loans through the Department of Economic and Community Development to provide financial support to businesses, municipalities, nonprofits, economic develop agencies and other partners for a wide range of activities that create and retain jobs; strengthen the competitiveness of the workforce; promote tourism, the arts and historic preservation; and help investigate and redevelop brownfields. The department's investments are helping build stronger neighborhoods and communities and improving the quality of life for state residents. These loans are payable over a ten year period with rates ranging from 2 percent to 4 percent.