Notes to the Financial Statements
June 30, 2011
Note 7 Receivables - Noncurrent
Noncurrent receivables for the primary government and its component units, as of June 30, 2011, consisted of the following (amounts in thousands):
| Primary Government | |||
|---|---|---|---|
| Governmental | Business-Type | Component | |
| Activities | Activities | Units | |
| Accounts | $- | $- | $16,365 |
| Loans | 251,751 | 709,310 | 163,624 |
| Total Receivables | 251,751 | 709,310 | 179,989 |
| Allowance for Uncollectibles | (1,716) | (2,886) | (9,602) |
| Receivables, Net | $250,035 | $706,424 | $170,387 |
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 $624.3 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 $104.3 million.