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5. Taxes Receivable:
Taxes receivable (amounts expressed in thousands), as of June 30, 1983 consisted of the following:
|
|
|
Funds
|
|
|
|
|
|
Special
|
Debt
|
Trust and
|
|
|
General
|
Revenue
|
Service
|
Agency
|
|
Income taxes, current employee withholdings held by employers ....
|
$164,457
|
|
|
|
|
Retail sales and use taxes, current taxes held by collectors .........
|
77,726
|
|
|
|
|
Transportation taxes, principally motor vehicle fuel and excise ......
|
|
$30,685
|
|
|
|
Unemployment compensation taxes ...............................
|
|
|
|
$48,365
|
|
Other taxes, principally alcohol, tobacco and property ..............
|
2,837
|
|
$7,269
|
|
|
Total .....................................................
|
$245,020
|
$30,685
|
$7,269
|
$48,365
|
6. Loans and Notes Receivable:
Loans and notes receivable (amounts expressed in thousands), as of June 30, 1983 consisted of the
following:
|
|
|
|
Funds
|
|
|
|
|
|
|
|
|
Higher Education
|
|
|
|
Debt
|
Capital
|
|
and
|
|
|
General
|
Service
|
Projects
|
Enterprise
|
University Hospital
|
|
Notes receivable for advances of general obligation bond
|
|
|
|
|
|
|
proceeds:
|
|
|
|
|
|
|
Political subdivisions: ...............................
|
|
|
|
|
|
|
Public school construction .......................
|
|
$33,114
|
|
|
|
|
Other ..........................................
|
|
17,004
|
|
|
|
|
Hospitals and nursing homes ........................
|
|
38,980
|
|
|
|
|
Construction mortgage loans ...........................
|
|
|
|
$ 27,410
|
|
|
Permanent mortgage loans ............................
|
|
|
|
520,564
|
|
|
National direct student loans ..........................
|
|
|
|
|
$24,363
|
|
Health profession loans ................................
|
|
|
|
|
6,521
|
|
Shore erosion loans ...................................
|
|
|
$8,851
|
|
|
|
Other ................................................
|
$199
|
212
|
|
230
|
592
|
|
|
199
|
89,310
|
8,851
|
548,204
|
31,476
|
|
Less allowance for possible loan losses ..................
|
|
105
|
|
|
8,199
|
|
Loans and notes receivable, net ........................
|
$199
|
$89,205
|
$8,851
|
$548,204
|
$23,277
|
Notes receivable for advances of general obligation bond proceeds bear interest at rates ranging from 3%
to 11.1% and mature over the next 30 years. Notes receivable maturing after 1998 in the amount of
$24,958,000 are deemed to be not available for debt service because all related general obligation bonds are
scheduled to be retired by that date. Accordingly, the amount has been reflected as a reservation of debt service
fund balance. Such amounts will become available to fund debt service when the due date of the outstanding
amounts becomes equal to or less than the maturity dates of general long-term debt.
Construction mortgage loans receivable are subject to commitments from other lenders to purchase the
loans upon completion of construction. Proceeds from payments of principal and interest on the construction
and permanent mortgage loans are pledged to meet the debt service requirements of the mortgage revenue
bonds (see Note 11).
National direct student loans and health profession loans are made pursuant to student loan programs
funded through the U.S. Government.
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