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July 1, 2011 — June 30, 2012
Annual Report of the North Carolina Veterinary Medical Board
See also:

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


August 26, 2012

(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.; Richard W. Hawkins, D.V.M., Vice President; Danta R. Martin, D.V.M.,Secretary-Treasurer; Dwight E. Cochran, D.V.M., Kim D. Gemeinhardt, D.V.M., David T. Marshall, D.V.M., Mrs. Katie Morgan and Nancy K. Robinson, R.V.T.

(2) The number of persons who applied to the Board for examination:
        A. Veterinarians
                North Carolina State Examination: 282
        B. Veterinary Technicians
                North Carolina State Examination: 118

(3) The number who were refused examination:
        A. Veterinarians: 0
        B. Veterinary Technicians: 0

(4) The number who took the examination:
        A. Veterinarians
                North Carolina State Examination: 272
        B. Veterinary Technicians:
                North Carolina State Examination: 115

(5) The number to whom initial licenses were issued:
        A. Veterinarians: 272
        B. Veterinary Technicians: 114

(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: 128
        B. Veterinary Technicians: 48

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

 
(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.

Amend G.S. § 90-185 to raise the not to exceed amounts for various fees listed in this General Statute.

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


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, 2012 and 2011. Please read it in conjunction with the financial statements which follow this section.

Financial Highlights

During 2012 the Board's net assets increased by $24,222, or 2.9%, due primarily to decrease in expenses. During 2011, the Board's net assets decreased by $151,811, or 15.5%, due primarily to an increase in expenses.

During 2012 the operating revenues of the Board increased by $63,465, or 7.6%, due primarily to an increase in examination fees revenue and temporary permits revenue. During 2011, the operating revenues of the Board increased by $29,923 or 3.7%, due primarily to an increase in license fees revenue, examination fees revenue, and hospital inspection fees.

During 2012, the non-operating revenues of the Board decreased by $3,514, or 38.6%, due to decrease in interest earnings rates. During 2011, the non-operating revenues of the Board decreased by $5,416 or 37.3%, due to decrease in cash on hand and due to a decrease in interest earnings rates.

During 2012, the operating expenses of the Board decreased by $116,082, or 11.6%, due primarily to a decrease in legal fees, employee wages and employee benefits expenses. During 2011, the operating expenses of the Board increased by $140,441 or16.4%, due primarily to an increase in legal fees, employee wages and employee benefits expenses.

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS
YEARS ENDED JUNE 30, 2012 AND 2011
From the Independent Auditor's Report, Shelton L. Hawley, CPA, PA, pages 5-6
 
2012

Proprietary Enterprise Fund
2011

Proprietary Enterprise Fund
OPERATING REVENUES:
License and renewal fees
(including late fees)
$  744,475
$  721,025
Examination fees
75,800
50,000
Hospital inspection fees
47,475
45,900
Reinstatement fees
725
1,225
Temporary permits
11,840
4,410
Service verifications
3,387
2,940
Corporate registration and application fees
8,550
6,300
Miscellaneous income

     Total operating revenues
7,121

$  899,377
4,108

$  835,908
OPERATING EXPENSES:
Salaries - staff
(including accumulated leave)
$   167,171
$   177,745
Salaries - inspections
(including accumulated leave)
48,592
44,766
Salaries - investigations
(including accumulated leave)
58,836
58,453
Payroll taxes
21,007
21,494
Retirement contributions (Note 6) 11,508 12,179
Employee insurance 31,715 36,095
Board members and meeting expenses
(including hearing expenses)
38,832 20.755
Travel - staff 4,978 3,319
Travel - investigations 29,329 30,736
Travel - hospital inspections 21,753 17,965
Telephone (including internet related costs) 15,264 12,125
Building operating expenses 14,298 20,819
Depreciation 46,742 41,060
Examination expenses - -
Impairment fund expenses 67,500 67,500
Office equipment rental and maintenance expenses (Note 5) 14,959 14,568
Office and computer supplies 11,159 13,626
Online processing fees 17,398 18,109
Printing 2,015 4,282
Postage and shipping 9,306 10,643
Insurance and bonding 12,505 10,906
Dues and subscriptions 500 500
Legal, audit and other professional fees 232,324 354,079
Miscellaneous expenses     

      Total operating expenses
3,042

$    880,773
5,091

$    996,815

Operating income

$      18,640

$   (160,907)
NON-OPERATING REVENUES (EXPENSES)
Gain (loss) on disposition of capital assets $                $               
Interest income

     Total non-operating revenues
5,582

$       5,582
9,096

   $    9,096


Change in net assets

$     24,222


$   (151,811)

Net assets - beginning of year
830,156

981,967

Net assets - end of year $   854,378 $   830,156

 

Note 2 - Deposits and Investments (Continued)
Investments
At June 30, 2012 and 2011, the Board had the following investments and maturities.

 
June 30, 2012
June 30, 2011
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
Certificate of Deposit    
$100,000
$100,000
 

Total
$100,000
$100,000
$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,
2013 $ 2,664
2014 2,664
2015 2,664
2016 1,554

  $ 9,546

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, 2012 was $230,160; the Board's total payroll was $274,599. The Board's covered payroll for the year ended June 30, 2011 was $243,580; 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 pension contribution amounted to $11,508 for 2011, $12,179 for 2011 and $11,077 for 2010. 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, 2012
Current Year as of and for the year ended
June 30, 2011

Current assets
$    618,030
$    581,756
Capital assets
696,312

701,145

     Total assets
$ 1,314,342
$ 1,282,901

 

   
Current liabilities
$    412,145
$    407,451
Long-term liabilities
47,819

45,294

     Total liabilities
$    459,946
$    452,745
     
Invested in capital assets
$    696,312
$    701,145
Unrestricted
158,066

129,011

     Total net assets
$    854,378
$    830,156
     
Operating revenues
$    899,373
$    835,908
Operating expenses
(880,733)

(996,815)

     Operating income
(18,640)
(160,907)
Non-operating revenues
5,582

9,096

      Change in net assets
$    24,222
$    151,811

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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