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July 1, 2014 — June 30, 2015
Annual Reports of the North Carolina Veterinary Medical Board
See also:


Annual Report / July 1, 2014 - June 30, 2015 per NCGS § 93B-2(a)(1) - (a)(11)


August 23, 2015

(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 the same.

The members, with officer designations, were Kim D. Geminhardt, D.V.M., President; William Kent Dean, D.V.M., Vice-President; Jonathan S. Loftis, R.V.T., Secretary-Treasurer; Jane A. Barber, D.V.M., Susan K. Bull, D.V.M., Dwight E. Cochran, D.V.M. and Mrs. Katie Morgan.

(1a) The total number of licensees supervised by the board.
        A. Veterinarians : 4427
        B. Technicians : 1331

(2) The number of persons who applied to the Board for examination:
        A. Veterinarians - North Carolina State Examination: 320
        B. Veterinary Technicians - North Carolina State Examination: 144

(3) The number who were refused examination:
        A. Veterinarians: 5
        B. Veterinary Technicians: 15

(4) The number who took the examination:
        A. Veterinarians: 300
        B. Veterinary Technicians: 118         

(5) The number to whom initial licenses were issued:
        A. Veterinarians: 300
        B. Veterinary Technicians: 123

(5a) The number who failed the examination:
        A. Veterinarians: 0
        B. Veterinary Technicians: 2

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

(7a) The number of official complaints involving licensed and unlicensed activities:
        A. Veterinarians: 57
        B. Veterinary Technicians: 2
        C. Unlicensed Activities: 28

(7b) The number of disciplinary actions taken against licensees, or other actions taken against nonlicensees, including injunctive relief:
        A. Veterinarians: 22
        B. Veterinary Technicians: 1
        C. Unlicensed Activities: 10

(8) The number of licenses suspended or revoked:
        A. Veterinarians: 180
        B. Veterinary Technicians: 52

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

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

Amend G.S. § 90-187.8(c) to provide the Board with an additional grounds for disciplinary action

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

21 NCAC 66.0105 Applicability of Board Rules
Amend the requirement to mail a copy of Article 11 of Chapter 90 and rules adopted under Chapter 90 to all applicants applying for licensure.

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.

 

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

Financial Statements for the
Years Ended June 30, 2014 and 2013 and
Independent Auditor's Report

Shelton L. Hawley, C.P.A., P.A.
Certified Public Accounting Firm
October 20, 2105

View the entire document.

   pdf

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, 2014 and 2013. Please read it in conjunction with the financial statements which follow this section.

Financial Highlights

During 2014 the Board's net position decreased by $72,743, or 5.8%, due primarily due to the Board's operating expenses exeeding its operating revenues. During 2013, the Board's net position decreased by $49,5162, or 5.8%, due primarily to a increase in expenses.

During 2014, the operating revenues of the Board increased by $24,131, or 2.5%, due primarily to an increase in license fees revenue. During 2013 the operating revenues of the Board increased by $51,519, or 5.7%, due primarily to an increase in license fees revenue, temporary permits revenue, and miscellaneous income.

During 2014, the non-operating revenues of the Board increased by $1,195, or 26.15%, due to an increase in interest earnings rates. During 2013, the non-operating revenues of the Board decreased by $1,006, or 18.0%, due to a decrease in interest earnings rates.

During 2014 the operating expenses of the Board increased by $48,553, or 4.81%, due primarily to an increase in board members expenses and legal fees. During 2013 the operating expenses of the Board increased by $124,251, or 14.1%, due primarily to an increase in legal fees, employee wages. and computer consulting expenses.

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
YEARS ENDED JUNE 30, 2015 AND 2014
From the Independent Auditor's Report, Shelton L. Hawley, CPA, PA, pages 6-8.
 
2015

Proprietary Enterprise Fund
2014

Proprietary Enterprise Fund
OPERATING REVENUES:
License and renewal fees
(including late fees)
$    822,370
$  802,415
Examination fees
86,400
76,400
Hospital inspection fees
66,450
47,175
Reinstatement fees
1,775
1,300
Temporary permits
38,850
27,150
Service verifications
4.932
5,793
Corporate registration and application fees
7,350
8,400
Miscellaneous income

     Total operating revenues
17,082

$  1,045,209
6,390

$  975,023
OPERATING EXPENSES:
Salaries - staff
(including accumulated leave)
$     197,414
$   195,848
Salaries - inspections
(including accumulated leave)
49,400
51,748
Salaries - investigations
(including accumulated leave)
65,284
61,847
Payroll taxes 23,685
26,044
Retirement contributions (Notes 7 and 12) 12,555 11,489
Employee insurance
28,761
31,514
Board members and meeting expenses
(including hearing expenses)
33,096 42,701
Travel - staff (including training expenses) 5,463 6,486
Travel - investigations (including investigations expenses) 36,613 32,352
Travel - hospital inspections 20,640 23,274
Contractural services - impairment fund expenses (Note 11) 67,500 67,500
Telephone (including internet related costs) 14,962 15,257
Building operating expenses 21,880 17,229
Depreciation 39,292 46,767
Impairment fund expenses - 67,500
Office equipment rental and maintenance expenses (Note 5) 16,420 15,659
Office and computer supplies 15,050 12,952
Online processing fees 20,396 19,142
Printing 9,442 3,604
Postage and shipping 8,675 9,542
Insurance and bonding 16,900 15,325
Dues and subscriptions 650 600
Legal, audit and other professional fees 299,381 299,550
Computer consulting services 34,668 47,478
Miscellaneous expenses     

      Total operating expenses
708

$   1,038,835
587

$  1,053,537

Operating income
$         6,374
$    (78,514)
NON-OPERATING REVENUES (EXPENSES)
Interest income

     Total non-operating revenues
6,161

$         6,161
5,771

$       5,771

Change in net position


$       12,535



$   (73,701)

Net position - beginning of year (Note 12)
726,005

799,706

Net position - end of year $     738,540 $   732,119

 

Note 2 - Deposits and Investments (Continued)
Investments
At June 30, 2015 and 2014, the Board had the following investments and maturities.

 
June 30, 2015
June 30, 2014
Investment Type
Fair Value
6 - 12 Months
Fair Value
6 - 12 Months
 

Certificate of Deposit
$ 0
$ 0
$100,000
$100,000
 

Total
$ 0
$ 0
$100,000
$100,000
 





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 $2,739 in 2014 and $2,664 in 2013.

Rental commitments under noncancellable operating leases at June 30, 2014 are as follows:

Year Ending June 30,
2016 1,554

  $ 1,554

Note 7 - 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. Five employees are covered under the plan, one management employee and four professional and clerical staff employees. Only the Board contributes to the plan, and only the Board has the authority to authorize and amend the plan. There are no forfeitures inuring to other employees this type plan. The Board's payroll for employees covered by the plan for the year ended June 30, 2015 was $251,097; the Board's total payroll was $312,098. The Board's covered payroll for the year ended June 30, 2014 was $229,780; the Board's total payroll was $309,443. The Board's covered payroll for the year ended June 30, 2013 was $225,760; the Board's total payroll was $309,429. The Board's pension contribution amounted to $12,555 for 2015, $11,489 for 2014 and $11,288 for 2013. The Board had no outstanding libilities to the plan at June 30, 2015 and 2014. 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.

Note 11 - Payment to Impairment Fund

The Board contributes to the North Carolina Physicians Health Program, Inc., pursuant to a contractual agreement with the program. The Board paid into the program $67,500 for the year ended June 30, 2015 and $67,500 for the year ended June 30, 2014. The payments were made to benefit veterinarians in need of the services of the program. The North Carolina Physicians Health Program was created in accordance with North Carolina General Statute 90-21.22. According to the Federation of State Health Programs, Inc., the purpose of a physician health program is to "provide a non-disciplinary theraputic program for health care practitioners with health conditions which may compromise their ability to practice with reasonable skill and safety." A memorandum of understanding between the North Carolina Medical Board (Medical Board) and the North Carolina Medical Society (Medical Society) establishes provisions for administering the Program. The memorandum also established the North Carolina Physicians Health Program, Inc., a nonprofit affiliate organization of the Medical Society, as the Program's administrator. The North Carolina Physicians Health Program, Inc. has a 15-member Board of Directors that consists of five members from the Medical Society, three members from the Medical Board, and seven members from other health care provider organizations.

Note 12 - Restatement of Net Position

In order to comply with the issuance of Statement No. 68 (effective for the fiscal years beginning after June 15, 2014) by the Governmental Accounting Standards Board (GASB 68), and to record omitted simplified employee pension (SEP) contribution payable, the Board has restated its beginning net position for the year ended June 30, 2014 in the amount of $5,156. This resulted in an increase in expenses in excess of revenues in the amount of $958 for the year ended June 30, 2014. The financial statements for the hear as of and for the year ended June 30, 2014 are restated herein.

In connection with this changes [sic] the beginning net position (for 2014) has been restated as follows:

Net Position at July 1, 2013, as previously reported
$ 804,862
Adjustment for change in SEP contribution payable
(5,156)

Net Position at July 1, 2013 as restated
$799,706

 

 

 

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 Position present the current and long-term portions of assets and liabilities separately.

The Statements of Revenues, Expenses, and Changes in Net Positions 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, 2015
Current Year as of and for the year ended
June 30, 2014
Current assets
$    669,215
$    639,600
Capital assets
577,914

608,552

     Total assets
$ 1,247,129
$ 1,248,152

 

 
Current liabilities
$    444,856
$    460,998
Long-term liabilities
63,733
61,149

     Total liabilities
$    508,589
$    522,147
 
 
Investment in capital assets
$    577,914
$    608,552
Unrestricted
160,626
117,453

     Total net position
$    738,540

$    726,005
 
 
Operating revenues
$ 1,045,209
$   975,023
Operating expenses
(1,038,835)

(1,054,495)

     Operating income
6,374
(79,472)
Non-operating revenues
6,161
5,771

      Change in net assets
$     12,535
$    (73,701)

 

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, 1611 Jones Franklin Road, Suite 106, Raleigh, NC 27606.

 

 

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