COMPONENT UNITS â DISCRETELY ...
State of North Carolina
June 30, 2015
COMPONENT UNITS – DISCRETELY PRESENTED The component units listed below are legally separate entities for which the State is financially accountable. Nonmajor component units are comprised of the following entities: State Education Assistance Authority N.C. Housing Finance Agency The Golden LEAF, Inc. N.C. State Ports Authority N.C. Global TransPark Authority North Carolina Railroad Company North Carolina Biotechnology Center N.C. Partnership for Children, Inc. Centennial Authority Economic Development Partnership of N.C. This section also includes a statement of cash flows for the State Health Plan, a major component unit, which does not issue separate financial statements.
271
State of North Carolina COMBINING STATEMENT OF NET POSITION NONMAJOR COMPONENT UNITS June 30, 2015 (Dollars in Thousands) State Education Assistance Authority Assets Cash and cash equivalents.................................................. Investments......................................................................... Receivables, net.................................................................. Due from component units................................................... Due from primary government.............................................. Inventories........................................................................... Prepaid items....................................................................... Notes receivable, net........................................................... Restricted/designated cash and cash equivalents................ Restricted investments......................................................... Capital assets-nondepreciable............................................. Capital assets-depreciable, net............................................ Total Assets.........................................................................
$
Deferred Outflows of Resources Accumulated decrease in fair value of hedging derivatives.. Deferred outflows for pensions............................................. Total Deferred Outflows of Resources..................................
Liabilities Accounts payable and accrued liabilities.............................. Interest payable................................................................... Due to component units....................................................... Due to primary government.................................................. Unearned revenue............................................................... Advance from primary government...................................... Deposits payable.................................................................. Funds held for others........................................................... Hedging derivatives liability.................................................. Long-term liabilities: Due within one year............................................................ Due in more than one year................................................. Total Liabilities..................................................................... Deferred Inflows of Resources Deferred state aid................................................................ Deferred inflows for pensions............................................... Total Deferred Inflows of Resources.................................... Net Position Net investment in capital assets........................................... Restricted for: Expendable: Higher education.............................................................. Health and human services.............................................. Economic development.................................................... Unrestricted......................................................................... Total Net Position.................................................................
$
53,798 — 42,841 1,185 — — 7 2,107,059 405,385 1,687,017 5,000 124 4,302,416
N.C. Housing Finance Agency $
8,108 3,110 22,903 — 82,100 — — 941,874 328,820 88,913 856 3,230 1,479,914
N.C. State Ports Authority
The Golden LEAF, Inc. $
424 940,424 5 — — — 101 203 — — 904 2,680 944,741
$
11,614 11,934 5,468 — — 730 2,318 — 3,214 — 60,707 210,728 306,713
N.C. Global TransPark Authority $
6,432 — 25 — — — — — — — 22,665 141,664 170,786
— 214 214
4,405 740 5,145
— — —
45 1,225 1,270
— 61 61
20,561 2,519 — 1 — — — 1,689,573 —
3,326 13,995 — — 30,984 — 3,504 — 4,405
62,608 — 6,845 — — — — — —
3,420 1,299 — 18 409 1,126 — — 45
327 17 — 1 84 2,940 — 3 —
243,479 1,660,901 3,617,034
28,164 713,014 797,392
20 22 69,495
3,011 89,789 99,117
289 3,272 6,933
118,451 590 119,041
2,893 2,187 5,080
— — —
— 3,481 3,481
— 204 204
5,124
4,086
3,584
180,636
157,690
476,709 — — 84,722 566,555
— — 667,999 10,502 682,587
— — 514 871,148 875,246
— — 3,272 21,477 205,385
— — — 6,020 163,710
$
272
$
$
$
State of North Carolina
Exhibit G-1 North Carolina Railroad Company $
$
4,928 — 3,649 — — — 26 — 80,647 — 18,799 57,908 165,957
North Carolina Biotechnology Center $
22,957 451 927 — — — 182 3,433 — — — 10,079 38,029
N.C. Partnership for Children, Inc. $
1,764 521 980 — — — 133 — 24 — — 147 3,569
Centennial Authority $
2,930 — 2,866 — — — 21 — 20,624 4,520 222 110,237 141,420
Economic Development Partnership of N.C. $
1,859 — 35 — — — 606 — — — — 94 2,594
Total $
114,814 956,440 79,699 1,185 82,100 730 3,394 3,052,569 838,714 1,780,450 109,153 536,891 7,556,139
— — —
— — —
— — —
— 14 14
— — —
4,450 2,254 6,704
5,562 — — — 11,251 — 48 — —
8,446 — — — — — — — —
947 — — — 823 — — — —
556 — — — 456 — — — —
311 — — — 33 — — — —
106,064 17,830 6,845 20 44,040 4,066 3,552 1,689,576 4,450
— — 16,861
17 3 8,466
42 109 1,921
4,536 19,630 25,178
237 59 640
279,795 2,486,799 4,643,037
— — —
— — —
— — —
— 42 42
— — —
121,344 6,504 127,848
76,707
10,059
147
86,293
—
524,326
— — 80,625 (8,236) 149,096
— — 648 18,856 29,563
— 37 — 1,464 1,648
— — 24,652 5,269 116,214
— — — 1,954 1,954
476,709 37 777,710 1,013,176 2,791,958
$
$
$
$
273
$
State of North Carolina COMBINING STATEMENT OF ACTIVITIES NONMAJOR COMPONENT UNITS For the Fiscal Year Ended June 30, 2015 (Dollars in Thousands) State Education Assistance Authority Total expenses.................................................. Program revenues: Charges for services...................................... Operating grants and contributions: State aid - program.................................... Other operating grants and contributions... Capital grants and contributions: State capital aid......................................... Other capital grants and contributions....... Net program (expense) revenue........................ Non-tax general revenues: State aid - general.......................................... Miscellaneous................................................ Total non-tax general revenues................... Change in net position....................................... Net position — July 1, as restated..................... Net position — June 30.....................................
$
$
239,942
N.C. Housing Finance Agency $
370,752
N.C. State Ports Authority
The Golden LEAF, Inc. $
31,912
$
40,729
N.C. Global TransPark Authority $
8,435
58,187
336,244
1
43,796
1,819
79,482 116,213
63,382 —
— 21,673
— 100
— 17
— — 13,940
— — 28,874
— — (10,238)
74 240 3,481
— 357 (6,242)
— — — 13,940 552,615 566,555
18,242 — 18,242 47,116 635,471 682,587
— 8 8 (10,230) 885,476 875,246
— — — 3,481 201,904 205,385
740 — 740 (5,502) 169,212 163,710
$
274
$
$
$
State of North Carolina
Exhibit G-2
North Carolina Railroad Company $
$
20,001
North Carolina Biotechnology Center $
15,205
N.C. Partnership for Children, Inc. $
102,723
Economic Development Partnership of N.C.
Centennial Authority $
12,687
$
12,924
Total $
855,310
17,877
344
—
5,176
54
463,498
— 3,392
— 1,233
93,259 4,147
— 7,882
— 1,148
236,123 155,805
— — 1,268
— — (13,628)
— — (5,317)
— 3,221 3,592
— — (11,722)
13,600 387 13,987 359 29,204 29,563
5,014 222 5,236 (81) 1,729 1,648
— 102 102 3,694 112,520 116,214
— 860 860 2,128 146,968 149,096
$
$
$
275
$
13,611 65 13,676 1,954 — 1,954
74 3,818 4,008
$
51,207 1,644 52,851 56,859 2,735,099 2,791,958
State of North Carolina STATEMENT OF CASH FLOWS MAJOR COMPONENT UNIT Exhibit G-3
June 30, 2015 (Dollars in Thousands)
State Health Plan Cash Flows From Operating Activities Receipts from customers................................................................... Payments to suppliers....................................................................... Payments to employees.................................................................... Payments for claims.......................................................................... Other payments................................................................................. Net cash flows used for operating activities............................................................
$
2,987,604 (326,849) (3,800) (2,667,030) (168) (10,243)
Cash Provided From Noncapital Financing Activities Grant receipts ...................................................................................
70,739
Cash Provided From Investment Activities Investment earnings..........................................................................
5,066
Net increase in cash and cash equivalents........................................ Cash and cash equivalents at July 1................................................. Cash and cash equivalents at June 30..............................................
$
958,558 1,024,120
$
(69,517)
Reconciliation of Operating Loss to Net Cash Used For Operating Activities Operating loss................................................................................... Adjustments to reconcile operating loss to net cash flows from operating activities: Depreciation................................................................................ Pension expense......................................................................... (Increases) decreases in assets and deferred outflows: Receivables................................................................................. Deferred outflows for pensions.................................................... Increases (decreases) in liabilities: Accounts payable and accrued liabilities..................................... Due to primary government......................................................... Compensated absences.............................................................. Unearned revenue....................................................................... Medical claims payable............................................................... Net cash used for operations.......................................................
65,562
4 108 (3,351) (268) 5,023 (1) 9 5,393 52,357 $
(10,243)
276
June 30, 2015
COMPONENT UNITS – DISCRETELY PRESENTED The component units listed below are legally separate entities for which the State is financially accountable. Nonmajor component units are comprised of the following entities: State Education Assistance Authority N.C. Housing Finance Agency The Golden LEAF, Inc. N.C. State Ports Authority N.C. Global TransPark Authority North Carolina Railroad Company North Carolina Biotechnology Center N.C. Partnership for Children, Inc. Centennial Authority Economic Development Partnership of N.C. This section also includes a statement of cash flows for the State Health Plan, a major component unit, which does not issue separate financial statements.
271
State of North Carolina COMBINING STATEMENT OF NET POSITION NONMAJOR COMPONENT UNITS June 30, 2015 (Dollars in Thousands) State Education Assistance Authority Assets Cash and cash equivalents.................................................. Investments......................................................................... Receivables, net.................................................................. Due from component units................................................... Due from primary government.............................................. Inventories........................................................................... Prepaid items....................................................................... Notes receivable, net........................................................... Restricted/designated cash and cash equivalents................ Restricted investments......................................................... Capital assets-nondepreciable............................................. Capital assets-depreciable, net............................................ Total Assets.........................................................................
$
Deferred Outflows of Resources Accumulated decrease in fair value of hedging derivatives.. Deferred outflows for pensions............................................. Total Deferred Outflows of Resources..................................
Liabilities Accounts payable and accrued liabilities.............................. Interest payable................................................................... Due to component units....................................................... Due to primary government.................................................. Unearned revenue............................................................... Advance from primary government...................................... Deposits payable.................................................................. Funds held for others........................................................... Hedging derivatives liability.................................................. Long-term liabilities: Due within one year............................................................ Due in more than one year................................................. Total Liabilities..................................................................... Deferred Inflows of Resources Deferred state aid................................................................ Deferred inflows for pensions............................................... Total Deferred Inflows of Resources.................................... Net Position Net investment in capital assets........................................... Restricted for: Expendable: Higher education.............................................................. Health and human services.............................................. Economic development.................................................... Unrestricted......................................................................... Total Net Position.................................................................
$
53,798 — 42,841 1,185 — — 7 2,107,059 405,385 1,687,017 5,000 124 4,302,416
N.C. Housing Finance Agency $
8,108 3,110 22,903 — 82,100 — — 941,874 328,820 88,913 856 3,230 1,479,914
N.C. State Ports Authority
The Golden LEAF, Inc. $
424 940,424 5 — — — 101 203 — — 904 2,680 944,741
$
11,614 11,934 5,468 — — 730 2,318 — 3,214 — 60,707 210,728 306,713
N.C. Global TransPark Authority $
6,432 — 25 — — — — — — — 22,665 141,664 170,786
— 214 214
4,405 740 5,145
— — —
45 1,225 1,270
— 61 61
20,561 2,519 — 1 — — — 1,689,573 —
3,326 13,995 — — 30,984 — 3,504 — 4,405
62,608 — 6,845 — — — — — —
3,420 1,299 — 18 409 1,126 — — 45
327 17 — 1 84 2,940 — 3 —
243,479 1,660,901 3,617,034
28,164 713,014 797,392
20 22 69,495
3,011 89,789 99,117
289 3,272 6,933
118,451 590 119,041
2,893 2,187 5,080
— — —
— 3,481 3,481
— 204 204
5,124
4,086
3,584
180,636
157,690
476,709 — — 84,722 566,555
— — 667,999 10,502 682,587
— — 514 871,148 875,246
— — 3,272 21,477 205,385
— — — 6,020 163,710
$
272
$
$
$
State of North Carolina
Exhibit G-1 North Carolina Railroad Company $
$
4,928 — 3,649 — — — 26 — 80,647 — 18,799 57,908 165,957
North Carolina Biotechnology Center $
22,957 451 927 — — — 182 3,433 — — — 10,079 38,029
N.C. Partnership for Children, Inc. $
1,764 521 980 — — — 133 — 24 — — 147 3,569
Centennial Authority $
2,930 — 2,866 — — — 21 — 20,624 4,520 222 110,237 141,420
Economic Development Partnership of N.C. $
1,859 — 35 — — — 606 — — — — 94 2,594
Total $
114,814 956,440 79,699 1,185 82,100 730 3,394 3,052,569 838,714 1,780,450 109,153 536,891 7,556,139
— — —
— — —
— — —
— 14 14
— — —
4,450 2,254 6,704
5,562 — — — 11,251 — 48 — —
8,446 — — — — — — — —
947 — — — 823 — — — —
556 — — — 456 — — — —
311 — — — 33 — — — —
106,064 17,830 6,845 20 44,040 4,066 3,552 1,689,576 4,450
— — 16,861
17 3 8,466
42 109 1,921
4,536 19,630 25,178
237 59 640
279,795 2,486,799 4,643,037
— — —
— — —
— — —
— 42 42
— — —
121,344 6,504 127,848
76,707
10,059
147
86,293
—
524,326
— — 80,625 (8,236) 149,096
— — 648 18,856 29,563
— 37 — 1,464 1,648
— — 24,652 5,269 116,214
— — — 1,954 1,954
476,709 37 777,710 1,013,176 2,791,958
$
$
$
$
273
$
State of North Carolina COMBINING STATEMENT OF ACTIVITIES NONMAJOR COMPONENT UNITS For the Fiscal Year Ended June 30, 2015 (Dollars in Thousands) State Education Assistance Authority Total expenses.................................................. Program revenues: Charges for services...................................... Operating grants and contributions: State aid - program.................................... Other operating grants and contributions... Capital grants and contributions: State capital aid......................................... Other capital grants and contributions....... Net program (expense) revenue........................ Non-tax general revenues: State aid - general.......................................... Miscellaneous................................................ Total non-tax general revenues................... Change in net position....................................... Net position — July 1, as restated..................... Net position — June 30.....................................
$
$
239,942
N.C. Housing Finance Agency $
370,752
N.C. State Ports Authority
The Golden LEAF, Inc. $
31,912
$
40,729
N.C. Global TransPark Authority $
8,435
58,187
336,244
1
43,796
1,819
79,482 116,213
63,382 —
— 21,673
— 100
— 17
— — 13,940
— — 28,874
— — (10,238)
74 240 3,481
— 357 (6,242)
— — — 13,940 552,615 566,555
18,242 — 18,242 47,116 635,471 682,587
— 8 8 (10,230) 885,476 875,246
— — — 3,481 201,904 205,385
740 — 740 (5,502) 169,212 163,710
$
274
$
$
$
State of North Carolina
Exhibit G-2
North Carolina Railroad Company $
$
20,001
North Carolina Biotechnology Center $
15,205
N.C. Partnership for Children, Inc. $
102,723
Economic Development Partnership of N.C.
Centennial Authority $
12,687
$
12,924
Total $
855,310
17,877
344
—
5,176
54
463,498
— 3,392
— 1,233
93,259 4,147
— 7,882
— 1,148
236,123 155,805
— — 1,268
— — (13,628)
— — (5,317)
— 3,221 3,592
— — (11,722)
13,600 387 13,987 359 29,204 29,563
5,014 222 5,236 (81) 1,729 1,648
— 102 102 3,694 112,520 116,214
— 860 860 2,128 146,968 149,096
$
$
$
275
$
13,611 65 13,676 1,954 — 1,954
74 3,818 4,008
$
51,207 1,644 52,851 56,859 2,735,099 2,791,958
State of North Carolina STATEMENT OF CASH FLOWS MAJOR COMPONENT UNIT Exhibit G-3
June 30, 2015 (Dollars in Thousands)
State Health Plan Cash Flows From Operating Activities Receipts from customers................................................................... Payments to suppliers....................................................................... Payments to employees.................................................................... Payments for claims.......................................................................... Other payments................................................................................. Net cash flows used for operating activities............................................................
$
2,987,604 (326,849) (3,800) (2,667,030) (168) (10,243)
Cash Provided From Noncapital Financing Activities Grant receipts ...................................................................................
70,739
Cash Provided From Investment Activities Investment earnings..........................................................................
5,066
Net increase in cash and cash equivalents........................................ Cash and cash equivalents at July 1................................................. Cash and cash equivalents at June 30..............................................
$
958,558 1,024,120
$
(69,517)
Reconciliation of Operating Loss to Net Cash Used For Operating Activities Operating loss................................................................................... Adjustments to reconcile operating loss to net cash flows from operating activities: Depreciation................................................................................ Pension expense......................................................................... (Increases) decreases in assets and deferred outflows: Receivables................................................................................. Deferred outflows for pensions.................................................... Increases (decreases) in liabilities: Accounts payable and accrued liabilities..................................... Due to primary government......................................................... Compensated absences.............................................................. Unearned revenue....................................................................... Medical claims payable............................................................... Net cash used for operations.......................................................
65,562
4 108 (3,351) (268) 5,023 (1) 9 5,393 52,357 $
(10,243)
276
