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July 1, 2008 — June 30, 2009
Annual Report of the North Carolina Veterinary Medical Board
See also:

Annual Report per NCGS § 93B-2(a)(1) - (a)(11)


August 29, 2009

(1) The address of the Board and the names of its members and officers:
The address of the Board was 1611 Jones Franklin Road, Suite 106, Raleigh, NC 27606; the mailing address was P.O. Box 37549, Raleigh, NC 27627.

The members, with officer designations, were J. Linwood Jernigan, D.V.M., President; David T. Marshall, D.V.M., Vice President; Nancy K. Robinson, R.V.T., Secretary-Treasurer; Susan K. Bull, D.V.M., Michael G. Davidson, D.V.M., Richard W. Hawkins, D.V.M., Mrs. Katie Morgan, and Dante R. Martin, D.V.M.

(2) The number of persons who applied to the Board for examination:
A. Veterinarians
1. North Carolina Veterinary Licensing Examination (NAVLE): 131
2. North Carolina State Examination (Statute and Rules): 283
B. Veterinary Technicians
1. Veterinary Technician National Exam (VTNE): 88
2. North Carolina State Examination (Statute and Rules): 200
(3) The number who were refused examination:
A. Veterinarians: 5
B. Veterinary Technicians: 7
(4) The number who took the examination:
A. Veterinarians
1. NAVLE: 131
2. North Carolina State Examination 271
B. Veterinary Technicians
1. VTNE: 85
2. North Carolina State Examination : 90
(5) The number to whom initial licenses were issued:
A. Veterinarians: 270
B. Veterinary Technicians (Registrations): 88
(6) The number who applied for license by reciprocity or comity:
A. Veterinarians: 0
B. Veterinary Technicians (Registrations): 0
(7) The number who were granted licenses by reciprocity or comity:
A. Veterinarians: 0
B. Veterinary Technicians (Registrations): 0
(8) The number of licenses suspended or revoked:
A. Veterinarians: 134
B. Veterinary Technicians (Registrations): 45
(9) The number of licenses terminated for any reason other than failure to pay the required fee:

A. Veterinarians: 0
B. Veterinary Technicians (Registrations): 0

(10) The substance of any anticipated request by the Board to the General Assembly to amend statutes:

While the Board has started reviewing the North Carolina Veterinary Practice Act for possible amendments, it is not anticipated that such review would be complete to meet any filing deadlines

(11) The substance of any anticipated change in rules or anticipated adoption of new rules:

21 NCAC 66.0203 License Required to Practice: Faculty Certificate; Zoo Veterinary Certificate
Require applicants for a Faculty Certificate to pass the same written North Carolina license examination on Article 22 of Chapter 90 and 21 NCAC 66 of the North Carolina Administrative Code that veterinarians must pass to have a veterinary license.

21 NCAC 66.0206 Minimum Standards for Continuing Education
Increase the number of allowable hours for audio, video or computer-based training from three to five hours.

21 NCAC 66.0207 Minimum Facility and Practice Standards
Revised the requirements for in-house or consultant laboratory services.

 

From the Annual Report per NCGS § 93B-2(b)

Financial Statements for the
Years Ended June 30, 2009 and 2008 and
Independent Auditor's Report

Shelton L. Hawley, C.P.A., P.A.
Certified Public Accounting Firm

MANAGEMENT'S DISCUSSION AND ANALYSIS

This section of the Board's financial report represents Management's analysis of the Board's financial performance during the years ending June 30, 2009 and 2008. Please read it in conjunction with the financial statements which follow this section.

Financial Highlights

During 2009, the Board's net assets increased by $17,767, or 1.8%, due primarily to annually recurring revenues in excess of expenses. During 2008, the Board's net assets increased by $126,679, or 14.5%, due primarily to annually recurring revenues in excess of expenses.

During 2009, the operating revenues of the Board increased by $54,374, or 6.7%, due primarily to an increase in license fees and exam fees revenue. During 2008, the operating revenues of the Board increased by $41,289, or 5.3%, due primarily to an increase in license fees revenue.

During 2009, the non-operating revenues of the Board decreased by $3,437, or 13.7%, due to decrease in interest earnings rates. During 2008, the non-operating revenues of the Board increased by $1,736, or 7.4%, due to an increase in cash on hand.

During 2009, the operating expenses of the Board decreased by $159,849, or 22.4%, due primarily to an increase in legal fees, travel expenses and salaries (including employee benefits) expense. During 2008, the operating expenses of the Board decreased by $40,628, or 5.4%, due primarily to a decrease in legal fees, examination expenses, and board members expenses.

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS
YEARS ENDED JUNE 30, 2009 AND 2008
From the Independent Auditor's Report, Shelton L. Hawley, CPA, PA, pages 5-6
 
2009

Proprietary Enterprise Fund
2008

Proprietary Enterprise Fund
OPERATING REVENUES:
License and renewal fees
(including late fees)
$  681,575
$  650,885
Examination fees
123,830
102,840
Hospital inspection fees
41,325
41,625
Reinstatement fees
825
725
Temporary permits
3,540
2,440
Service verifications
3,125
2,610
Corporate registration and application fees
8,250
9,000
Miscellaneous income

     Total operating revenues
5,537

$  868,007
3,508

$  813,633
OPERATING EXPENSES:
Salaries - staff
(including accumulated leave)
$  149.937
$  127,101
Salaries - inspections
(including accumulated leave)
33,290
32,476
Salaries - investigations
(including accumulated leave)
53,581
49,194
Payroll taxes
18,116
15,971
Retirement contributions (Note 6) 11,142 10,009
Employee insurance 19,534 14,959
Board members and meeting expenses
(including hearing expenses)
22,762 15,225
Travel - staff 2,142 1,385
Travel - investigations 35,940 24,009
Travel - hospital inspections 18,626 15,314
Telephone 7,500 6,611
Building operating expenses 13,583 12,196
Depreciation 29,131 25,914
Examination expenses 61,320 55,213
Impairment fund expenses 67,500 67,500
Office equipment rental and maintenance expenses (Note 5) 13,814 5,449
Office and computer supplies 10,959 8,924
Printing 5,077 4,877
Postage and shipping 11,419 9,757
Insurance and bonding 11,331 13,012
Dues and subscriptions 500 500
Legal, audit and other professional fees 271,826 195,076
Miscellaneous expenses     

      Total operating expenses
2,842

$  871,872
1,260

$  712,023

Operating income

$  ( 3,865)

$  101,610
NON-OPERATING REVENUES (EXPENSES)
Gain (loss) on disposition of capital assets $              $             
Interest income

     Total non-operating revenues
21,632

$   21,632
25,069

   $  126,679


Change in net assets

$   17,767


$  126,679

Net assets - beginning of year
1,000,007

873,391

Net assets - end of year $ 1,017,844 $  1,000,077

 

Note 2 - Deposits and Investments (Continued)
Investments
At June 30, 2009 and 2008, the Board had the following investments and maturities.

 
June 30, 2009
June 30, 2008
Investment Type
Fair Value
6 - 12 Months
Fair Value
6 - 12 Months
 

Certificate of Deposit
$100,000
$100,000
$100,000
$100,000
Certificate of Deposit
$100,000
$100,000
$100,000
$100,000
Certificate of Deposit
$100,000
$100,000
   
 

Total
$300,000
$300,000
$200,000
$200,000
 





Note 5- Operating Leases

The Board leased office equipment under an operating lease. The total rent expense charged to operations under the lease agreement was $2,075 for 2009 and $2,075 in 2008.

Rental commitments under noncancellable operating leases at June 30, 2009 are as follows:

Year Ending June 30,
2010 $ 1,556

  $ 1,556

 

Note 6- Pension Plan and Postemployment Benefits other Than Pensions

Simplified Employee Pension Plan

On April 14, 1997, the Board entered into a Simplified Employee Pension plan agreement on behalf of employees of the Board. The Board's payroll for employees covered by the plan for the year ended June 30, 2009 was $222,840; the Board's total payroll was $236,808. The Board's covered payroll for the year ended June 30, 2008 was $200,180; total payroll was $208,771. The Board's covered payroll for the year ended June 30, 2007 was $175,920; total payroll was $211,366. The Board's pension contribution amounted to $11,142 for 2009, $10,009 for 2008 and $8,796 for 2007. The Board assumes no liability for retiree benefits provided by this program other than its required contributions. The Board has no postemployment benefits other than this defined contribution retirement plan.

 

Overview of the Financial Statements

This financial report consists of two sections: Management's Discussion and Analysis and the Financial Statements. The Board has no other supplementary information required by GASB 34. The Financial Statements also include notes to the financial statements that provide detail of the information included in the financial statements.

Basic Financial Statements

The financial statements of the Board report information about the Board using accounting methods similar to those used by private sector companies. These statements offer short and long-term financial information about the activities of the Board.

The Statements of Net Assets present the current and long-term portions of assets and liabilities separately.

The Statements of Revenues, Expenses, and Changes in Net Assets present information on how the Board's assets changed as a result of its operations.

The Statements of Cash Flows present information on how the Board's cash changed as a results of its financial activities.

Condensed Financial information

The following presents condensed financial information on the operations of the Board:

  Current Year as of and for the year ended
June 30, 2009
Current Year as of and for the year ended
June 30, 2008

Current assets
$    728,432
$    727,933
Capital assets
692,629

682,450

     Total assets
$ 1,421,061
$ 1,410,383

 

   
Current liabilities
$    362,517
$    377,446
Long-term liabilities
40,700

32,860

     Total liabilities
$    403,217
$    410,306
     
Invested in capital assets
$    692,629
$    682,450
Unrestricted
325,215

317,627

     Total net assets
$  1,017,844
$    1,000,077
     
Operating revenues
$    868,007
$    813,633
Operating expenses
(871,872)

(712,023)

     Operating income
(   3,865)
101,610
Non-operating revenues
21,632

25,069

      Change in net assets
$  17,767
$     126,679

Events Affecting Future Operations

The Board has indicated it has no significant events affecting future operations which are reportable pursuant to GASB 34.

Contacting the Board's Management

This financial report is designed to provide a general overview of the Board's finances and to demonstrate the Board's accountability for the money it receives. If you have any questions about this report or need additional information, contact: North Carolina Veterinary Medical Board, PO Box 37549, Raleigh, NC 27627.

 

 

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