|
(a) Market value approximates cost.
(b) The Department of Transportation (Department), on behalf of the Consolidated Transportation
Refunding Bond Sinking Fund and the County Transportation Refunding Bond Sinking Fund, has entered
into federal securities purchase agreements with banks, thereby reducing the market risk to the Department.
Under these agreements the Department is required to invest a total of $246,000,000 of Sinking Fund deposits
over the first five and one-half years of the Bond issues. The invested funds are used to purchase federal
securities from the banks at predetermined yields and ranges of maturities. Investment maturities are
scheduled in accordance with bond redemption provisions and the Department anticipates that all
investments will be held until maturity. As of June 30, 1984, investment cost exceeded market value by
approximately $102,000,000; however, no decline in investment market value has been recognized in the
financial statements since the Department intends to hold the investments until maturity.
(c) Market value approximates $190,353,000.
(d) Market value approximates $4,498,691,000.
5. Taxes Receivable:
Taxes receivable (amounts expressed in thousands), as of June 30, 1984, consisted of the following:
|
|
|
Funds
|
|
|
|
|
|
Special
|
Debt
|
Trust and
|
|
|
General
|
Revenue
|
Service
|
Agency
|
|
Income taxes, current employee withholdings held by employers ..........
|
..... $183,029
|
|
|
|
|
Retail sales and use taxes, current taxes held by collectors ...............
|
..... 93,147
|
|
|
|
|
Transportation taxes, principally motor vehicle, fuel and excise ...........
|
|
$31,643
|
|
|
|
Unemployment compensation taxes .....................................
|
|
|
|
$87,518
|
|
Other taxes, principally alcohol, tobacco and property ....................
|
3,172
|
|
$8,362
|
|
|
|
279,348
|
31,643
|
8,362
|
87,518
|
|
Less allowance for doubtful accounts ..................................
|
..... 648
|
|
|
|
|
Taxes receivable, net ..................................................
|
..... $278,700
|
$31,643
|
$8,362
|
$87,518
|
6. Loans and Notes Receivable:
Loans and notes receivable (amounts expressed in thousands), as of June 30, 1984, 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 ..........................
|
$26,920
|
|
|
|
|
Other .............................................
|
17,710
|
|
|
|
|
Hospitals and nursing homes .........................
|
37,938
|
|
|
|
|
Construction mortgage loans ...........................
|
|
|
$ 7,951
|
|
|
Permanent mortgage loans .............................
|
|
|
648,772
|
|
|
National direct student loans ...........................
|
|
|
|
$23,989
|
|
Health profession loans ................................
|
|
|
|
7,681
|
|
Shore erosion loans ....................................
|
|
$8,996
|
|
|
|
Other ................................................. $ 220
|
811
|
|
151
|
409
|
|
220
|
83,379
|
8,996
|
656,874
|
32,079
|
|
Less allowance for possible loan losses ................
|
105
|
|
|
7,313
|
|
Loans and notes receivable, net ......................... $ 220
|
$83,274
|
$8,996
|
$656,874
|
$24,766
|
|
|
|
|
|
|
39
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