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July 1, 2010 — June 30, 2011
Annual Report of the North Carolina Veterinary Medical Board
See also:

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


August 27, 2011

(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; Nancy K. Robinson, R.V.T.., Vice President; Richard W. Hawkins, D.V.M., Secretary-Treasurer; Michael G. Davidson, D.V.M., Kim D. Gemeinhardt, D.V.M., David T. Marshall, D.V.M., Dante R. Martin, D.V.M., and Mrs. Katie Morgan.

(2) The number of persons who applied to the Board for examination:
        A. Veterinarians
                North Carolina State Examination (Statute and Rules): 214
        B. Veterinary Technicians
                North Carolina State Examination (Statute and Rules): 102

(3) The number who were refused examination:
        A. Veterinarians: 3
        B. Veterinary Technicians: 1

(4) The number who took the examination:
        A. Veterinarians
                North Carolina State Examination: 202
        B. Veterinary Technicians:
                North Carolina State Examination: 97

(5) The number to whom initial licenses were issued:
        A. Veterinarians: 201
        B. Veterinary Technicians: 91

(6) The number who applied for license by reciprocity or comity:
        A. Veterinarians: 0
        B. Veterinary Technicians: 0

(7) The number who were granted licenses by reciprocity or comity:
        A. Veterinarians: 0
        B. Veterinary Technicians: 0

(8) The number of licenses suspended or revoked:
        A. Veterinarians: 161
        B. Veterinary Technicians: 43

(9) The number of licenses terminated for any reasonother than failure to pay:
        A. Veterinarians: 1
        B. Veterinary Technicians: 0

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

Amend G.S. § 90-187 to include the Program for the Assessment of Veterinary Education Equivalence (PAVE) of the American Association of Veterinary State Boards as an alternative to the current certification program accepted.

(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
The change would require applicants for a Faculty Certificate to pass the same written North Carolina license examination on Article 11 of Chapter 90 and 21 NCAC 66 of the North Carolina Administrative Code. This would be the same examination that veterinarians must pass to have a veterinary license.

21 NCAC 66.0206 Minimum Standards for Continuing Education
This change would 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, 2010 and 2009 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, 2010 and 2009. Please read it in conjunction with the financial statements which follow this section.

Financial Highlights

During 2010, the Board's net assets decreased by $35,877, or 3.5%, due primarily to decrease in examination fees revenue. 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 2010, the operating revenues of the Board decreased by $62,022, or 7.1%, due primarily to a decrease in examination fees revenue. During 2009, the operating revenues of the Board increased by $54,374 or 6.7%, due primarily to an increase in license fees revenue.

During 2010, the non-operating revenues of the Board decreased by $7,120, or 32.9%, due to decrease in interest earnings rates. During 2009, the non-operating revenues of the Board decreased by $3,437, or 13.7%, due to decrease in interest earnings rates.

During 2010, the operating expenses of the Board decreased by $155,498, or 1.8%, due primarily to a decrease in examination expenses and legal fees. During 2009, the operating expenses of the Board increased by $159,849 or 22.4%, due primarily to an increase in legal fees, travel expenses and salaries (including employee benefits) expense.

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS
YEARS ENDED JUNE 30, 2010 AND 2011
From the Independent Auditor's Report, Shelton L. Hawley, CPA, PA, pages 5-6
 
2011

Proprietary Enterprise Fund
2010

Proprietary Enterprise Fund
OPERATING REVENUES:
License and renewal fees
(including late fees)
$  721,025
$  698,900
Examination fees
50,000
42,120
Hospital inspection fees
45,900
39,075
Reinstatement fees
1,225
1,325
Temporary permits
4,410
3,390
Service verifications
2,940
2,850
Corporate registration and application fees
6,300
8,700
Miscellaneous income

     Total operating revenues
4,108

$  835,908
9.625

$  805,985
OPERATING EXPENSES:
Salaries - staff
(including accumulated leave)
$   177,745
$   176,455
Salaries - inspections
(including accumulated leave)
44,766
33.812
Salaries - investigations
(including accumulated leave)
58,453
57,667
Payroll taxes
21,494
20,497
Retirement contributions (Note 6) 12,179 11,077
Employee insurance 36,095 27,533
Board members and meeting expenses
(including hearing expenses)
20,755 22,233
Travel - staff 3,319 7,147
Travel - investigations 30,736 31.283
Travel - hospital inspections 17,965 17,646
Telephone (including internet related costs) 12,125 10,041
Building operating expenses 20,819 16,866
Depreciation 41,060 35,599
Examination expenses - 4,600
Impairment fund expenses 67,500 67,500
Office equipment rental and maintenance expenses (Note 5) 14,568 13,279
Office and computer supplies 13,626 11,052
Online processing fees 18,109 17,293
Printing 4,282 2,635
Postage and shipping 10,643 6,741
Insurance and bonding 10,906 11,587
Dues and subscriptions 500 500
Legal, audit and other professional fees 354,079 250,857
Miscellaneous expenses     

      Total operating expenses
5,091

$    996,815
2,474

$    856,374

Operating income

$ (160,907)

$   (50,389)
NON-OPERATING REVENUES (EXPENSES)
Gain (loss) on disposition of capital assets $                $               
Interest income

     Total non-operating revenues
9,096

$       9,096
14,512

   $     14,512


Change in net assets

$ (151,811)


$   (35,877)

Net assets - beginning of year
981,967

1,000,007

Net assets - end of year $   830,156 $   981,967

 

Note 2 - Deposits and Investments (Continued)
Investments
At June 30, 2011 and 2010, the Board had the following investments and maturities.

 
June 30, 2011
June 30, 2010
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
$100,000
$100,000
 

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





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 $1,726 for 2011 and $1,047 in 2010.

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

Year Ending June 30,
2012 $   2,465
2013 2,689
2014 2,689
2015 2,689
2016 1,569

  $ 12,101

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, 2011 was $243,580; the Board's total payroll was $280,964. The Board's covered payroll for the year ended June 30, 2010 was $221,540; total payroll was $267,934. The Board's covered payroll for the year ended June 30, 2009 was $222,840; total payroll was $236,808. The Board's pension contribution amounted to $112,179 for 2011, $11,077 for 2010 and $11,142 for 2009. 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, 2011
Current Year as of and for the year ended
June 30, 2010

Current assets
$    581,756
$    710,792
Capital assets
701,145

705,038

     Total assets
$ 1,282,901
$ 1,415,830

 

   
Current liabilities
$    407,451
$    393,431
Long-term liabilities
45,294

40,432

     Total liabilities
$    452,745
$    433,863
     
Invested in capital assets
$    701,145
$    705,038
Unrestricted
129,011

276,929

     Total net assets
$    830,156
$    981,967
     
Operating revenues
$    835,908
$    805,985
Operating expenses
(996,815)

(856,374)

     Operating income
(160,907)
(50,389)
Non-operating revenues
9,096

14,512

      Change in net assets
$    151,811
$     35,877

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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