COMPONENT UNITS
State of North Carolina
June 30, 2016
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.
257
State of North Carolina COMBINING STATEMENT OF NET POSITION NONMAJOR COMPONENT UNITS June 30, 2016 (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.................................................................
$
52,865 — 37,295 2,401 — — 25 1,871,504 455,933 1,796,060 5,000 126 4,221,209
N.C. Housing Finance Agency $
8,873 3,139 15,369 — 30,846 — — 821,975 410,139 91,144 223 3,418 1,385,126
N.C. State Ports Authority
The Golden LEAF, Inc. $
869 915,283 — — — — 99 174 — — 904 2,609 919,938
$
9,812 15,705 8,547 — — 717 2,917 — 3,216 19,232 76,852 204,695 341,693
N.C. Global TransPark Authority $
7,013 — 29 — — — — — — — 22,564 135,166 164,772
— 201 201
5,174 788 5,962
— — —
— 1,211 1,211
— 45 45
16,004 2,805 — 3 — — — 1,814,429 —
3,816 11,388 — — 36,804 — 3,535 — 5,174
59,184 — 8,773 — — — — — —
4,308 1,278 — 18 259 954 — — —
249 17 — 1 72 2,691 — 2 —
211,170 1,478,831 3,523,242
26,405 615,937 703,059
27 12 67,996
2,711 88,670 98,198
309 3,362 6,703
120,448 111 120,559
5,520 423 5,943
— — —
— 699 699
— 34 34
5,126
3,641
3,513
193,613
151,571
499,416 — — 73,067 577,609
— — 664,330 14,115 682,086
— — 1,726 846,703 851,942
— — 22,448 27,946 244,007
— — — 6,509 158,080
$
258
$
$
$
State of North Carolina
Exhibit G-1 North Carolina Railroad Company $
$
5,805 — 4,676 — — — 19 — 82,459 — 15,830 57,667 166,456
North Carolina Biotechnology Center $
16,793 5,382 1,051 — — — 212 4,016 — — — 9,587 37,041
N.C. Partnership for Children, Inc. $
2,431 — 777 — — — 159 — 24 31 — 132 3,554
Centennial Authority $
3,348 — 3,212 — — — — — 18,403 4,605 2,701 108,119 140,388
Economic Development Partnership of N.C. $
1,677 — 306 — — — 762 — — — — 267 3,012
Total $
109,486 939,509 71,262 2,401 30,846 717 4,193 2,697,669 970,174 1,911,072 124,074 521,786 7,383,189
— — —
— — —
— — —
— 19 19
— — —
5,174 2,264 7,438
6,520 — — — 11,137 — 48 — —
8,901 — — — — — — — —
955 — — — 794 — — — —
1,592 — — — 538 — — — —
261 — — — 46 — — — —
101,790 15,488 8,773 22 49,650 3,645 3,583 1,814,431 5,174
— — 17,705
3 — 8,904
33 100 1,882
4,691 14,956 21,777
245 180 732
245,594 2,202,048 4,450,198
— — —
— — —
— — —
— 9 9
— — —
125,968 1,276 127,244
73,497
9,584
132
91,190
—
531,867
— — 82,451 (7,197) 148,751
— — 507 18,046 28,137
— 41 — 1,499 1,672
— — 22,142 5,289 118,621
— — — 2,280 2,280
499,416 41 793,604 988,257 2,813,185
$
$
$
$
259
$
State of North Carolina COMBINING STATEMENT OF ACTIVITIES NONMAJOR COMPONENT UNITS For the Fiscal Year Ended June 30, 2016 (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: Unrestricted investment earnings (loss).......... State aid - general.......................................... Miscellaneous................................................ Total non-tax general revenues................... Change in net position....................................... Net position — July 1, as restated..................... Net position — June 30.....................................
$
$
253,358
N.C. Housing Finance Agency $
389,017
N.C. State Ports Authority
The Golden LEAF, Inc. $
30,311
$
49,265
N.C. Global TransPark Authority $
8,170
67,666
357,083
3
46,512
1,771
141,971 54,775
9,814 —
— 1,212
— 237
— 120
— — 11,054
— — (22,120)
— — (29,096)
— — — — 11,054 566,555 577,609
— 21,619 — 21,619 (501) 682,587 682,086
(4,208) 10,000 — 5,792 (23,304) 875,246 851,942
$
260
$
— — (6,279)
186 832 (1,498)
$
— 35,000 5,120 40,120 38,622 205,385 244,007
$
— 750 — 750 (5,529) 163,609 158,080
State of North Carolina
Exhibit G-2
North Carolina Railroad Company $
$
26,173
North Carolina Biotechnology Center $
16,974
N.C. Partnership for Children, Inc. $
102,972
Economic Development Partnership of N.C.
Centennial Authority $
12,999
$
18,668
Total $
907,907
17,648
484
—
5,201
165
496,533
— —
— 996
93,851 4,159
— 8,064
— 1,834
245,636 71,397
— 1,976 2,242
— — (16,669)
6,051 2,808 (85,482)
5,865 — (2,660)
— — (15,494)
— — (4,962)
2,315 — — 2,315 (345) 149,096 148,751
— 13,600 468 14,068 (1,426) 29,563 28,137
— 4,956 208 5,164 202 1,470 1,672
$
$
$
— — 165 165 2,407 116,214 118,621
261
$
— 16,995 — 16,995 326 1,954 2,280
$
(1,893) 102,920 5,961 106,988 21,506 2,791,679 2,813,185
State of North Carolina STATEMENT OF CASH FLOWS MAJOR COMPONENT UNIT Exhibit G-3
June 30, 2016 (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.................................................................................
$
3,084,117 (359,989) (3,575) (2,816,695) (118)
Net cash used for operating activities..........................................
(96,260)
Cash Flows From Noncapital Financing Activities Grant receipts ...................................................................................
18,225
Cash Flows From Investing Activities Investment earnings..........................................................................
7,393
Net decrease in cash and cash equivalents....................................... Cash and cash equivalents at July 1................................................. Cash and cash equivalents at June 30..............................................
$
1,024,120 953,478
$
(73,619)
Reconciliation of Operating Loss to Net Cash Used For Operating Activities Operating loss................................................................................... Adjustments to reconcile operating loss to net cash used for operating activities: Pension expense......................................................................... Miscellaneous pension adjustments............................................ Change in assets and deferred outflows: Receivables................................................................................. Deferred outflows for pensions.................................................... Change in liabilities: Accounts payable and accrued liabilities..................................... Due to primary government......................................................... Compensated absences.............................................................. Unearned revenue....................................................................... Medical claims payable............................................................... Net cash used for operating activites...........................................
(70,642)
68 31 (23,940) (251) 7,977 (2) (7) 13,881 (20,398) $
(96,260)
262
June 30, 2016
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.
257
State of North Carolina COMBINING STATEMENT OF NET POSITION NONMAJOR COMPONENT UNITS June 30, 2016 (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.................................................................
$
52,865 — 37,295 2,401 — — 25 1,871,504 455,933 1,796,060 5,000 126 4,221,209
N.C. Housing Finance Agency $
8,873 3,139 15,369 — 30,846 — — 821,975 410,139 91,144 223 3,418 1,385,126
N.C. State Ports Authority
The Golden LEAF, Inc. $
869 915,283 — — — — 99 174 — — 904 2,609 919,938
$
9,812 15,705 8,547 — — 717 2,917 — 3,216 19,232 76,852 204,695 341,693
N.C. Global TransPark Authority $
7,013 — 29 — — — — — — — 22,564 135,166 164,772
— 201 201
5,174 788 5,962
— — —
— 1,211 1,211
— 45 45
16,004 2,805 — 3 — — — 1,814,429 —
3,816 11,388 — — 36,804 — 3,535 — 5,174
59,184 — 8,773 — — — — — —
4,308 1,278 — 18 259 954 — — —
249 17 — 1 72 2,691 — 2 —
211,170 1,478,831 3,523,242
26,405 615,937 703,059
27 12 67,996
2,711 88,670 98,198
309 3,362 6,703
120,448 111 120,559
5,520 423 5,943
— — —
— 699 699
— 34 34
5,126
3,641
3,513
193,613
151,571
499,416 — — 73,067 577,609
— — 664,330 14,115 682,086
— — 1,726 846,703 851,942
— — 22,448 27,946 244,007
— — — 6,509 158,080
$
258
$
$
$
State of North Carolina
Exhibit G-1 North Carolina Railroad Company $
$
5,805 — 4,676 — — — 19 — 82,459 — 15,830 57,667 166,456
North Carolina Biotechnology Center $
16,793 5,382 1,051 — — — 212 4,016 — — — 9,587 37,041
N.C. Partnership for Children, Inc. $
2,431 — 777 — — — 159 — 24 31 — 132 3,554
Centennial Authority $
3,348 — 3,212 — — — — — 18,403 4,605 2,701 108,119 140,388
Economic Development Partnership of N.C. $
1,677 — 306 — — — 762 — — — — 267 3,012
Total $
109,486 939,509 71,262 2,401 30,846 717 4,193 2,697,669 970,174 1,911,072 124,074 521,786 7,383,189
— — —
— — —
— — —
— 19 19
— — —
5,174 2,264 7,438
6,520 — — — 11,137 — 48 — —
8,901 — — — — — — — —
955 — — — 794 — — — —
1,592 — — — 538 — — — —
261 — — — 46 — — — —
101,790 15,488 8,773 22 49,650 3,645 3,583 1,814,431 5,174
— — 17,705
3 — 8,904
33 100 1,882
4,691 14,956 21,777
245 180 732
245,594 2,202,048 4,450,198
— — —
— — —
— — —
— 9 9
— — —
125,968 1,276 127,244
73,497
9,584
132
91,190
—
531,867
— — 82,451 (7,197) 148,751
— — 507 18,046 28,137
— 41 — 1,499 1,672
— — 22,142 5,289 118,621
— — — 2,280 2,280
499,416 41 793,604 988,257 2,813,185
$
$
$
$
259
$
State of North Carolina COMBINING STATEMENT OF ACTIVITIES NONMAJOR COMPONENT UNITS For the Fiscal Year Ended June 30, 2016 (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: Unrestricted investment earnings (loss).......... State aid - general.......................................... Miscellaneous................................................ Total non-tax general revenues................... Change in net position....................................... Net position — July 1, as restated..................... Net position — June 30.....................................
$
$
253,358
N.C. Housing Finance Agency $
389,017
N.C. State Ports Authority
The Golden LEAF, Inc. $
30,311
$
49,265
N.C. Global TransPark Authority $
8,170
67,666
357,083
3
46,512
1,771
141,971 54,775
9,814 —
— 1,212
— 237
— 120
— — 11,054
— — (22,120)
— — (29,096)
— — — — 11,054 566,555 577,609
— 21,619 — 21,619 (501) 682,587 682,086
(4,208) 10,000 — 5,792 (23,304) 875,246 851,942
$
260
$
— — (6,279)
186 832 (1,498)
$
— 35,000 5,120 40,120 38,622 205,385 244,007
$
— 750 — 750 (5,529) 163,609 158,080
State of North Carolina
Exhibit G-2
North Carolina Railroad Company $
$
26,173
North Carolina Biotechnology Center $
16,974
N.C. Partnership for Children, Inc. $
102,972
Economic Development Partnership of N.C.
Centennial Authority $
12,999
$
18,668
Total $
907,907
17,648
484
—
5,201
165
496,533
— —
— 996
93,851 4,159
— 8,064
— 1,834
245,636 71,397
— 1,976 2,242
— — (16,669)
6,051 2,808 (85,482)
5,865 — (2,660)
— — (15,494)
— — (4,962)
2,315 — — 2,315 (345) 149,096 148,751
— 13,600 468 14,068 (1,426) 29,563 28,137
— 4,956 208 5,164 202 1,470 1,672
$
$
$
— — 165 165 2,407 116,214 118,621
261
$
— 16,995 — 16,995 326 1,954 2,280
$
(1,893) 102,920 5,961 106,988 21,506 2,791,679 2,813,185
State of North Carolina STATEMENT OF CASH FLOWS MAJOR COMPONENT UNIT Exhibit G-3
June 30, 2016 (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.................................................................................
$
3,084,117 (359,989) (3,575) (2,816,695) (118)
Net cash used for operating activities..........................................
(96,260)
Cash Flows From Noncapital Financing Activities Grant receipts ...................................................................................
18,225
Cash Flows From Investing Activities Investment earnings..........................................................................
7,393
Net decrease in cash and cash equivalents....................................... Cash and cash equivalents at July 1................................................. Cash and cash equivalents at June 30..............................................
$
1,024,120 953,478
$
(73,619)
Reconciliation of Operating Loss to Net Cash Used For Operating Activities Operating loss................................................................................... Adjustments to reconcile operating loss to net cash used for operating activities: Pension expense......................................................................... Miscellaneous pension adjustments............................................ Change in assets and deferred outflows: Receivables................................................................................. Deferred outflows for pensions.................................................... Change in liabilities: Accounts payable and accrued liabilities..................................... Due to primary government......................................................... Compensated absences.............................................................. Unearned revenue....................................................................... Medical claims payable............................................................... Net cash used for operating activites...........................................
(70,642)
68 31 (23,940) (251) 7,977 (2) (7) 13,881 (20,398) $
(96,260)
262
