January 2024 Operating Fund Financial Highlights

MANAGEMENT OVERVIEW

January 31, 2024

Balance Sheets

Cash and cash equivalents had a month-end balance of approximately $104.3 million. The balance decreased by $11.9 million for the month primarily due to cash disbursements for operating expenses and capital expenditures. The cash position is considered sufficient to cover current and future budgetary obligations of the Fund through April 2024, at which time the Fund will collect the 2024 operating fees from its credit union members.

Amount due from National Credit Union Share Insurance Fund of $10.0 thousand represents the receivable for expenses paid by the Operating Fund.

Other accounts receivable, net had a month-end balance of $11.7 million. Its balance increased by $11.1 million from prior month. Accounts payable are trade, relocation and inter-agency payables. The balance increased by $2.3 million for the month primarily due to vendor/trade and overhead transfer payables.

Accrued wages and benefits are earned by NCUA staff, but remain unpaid at month-end.

Accrued annual leave is leave earned by NCUA staff, but not yet used.

Statements of Revenues, Expenses, and Changes in Fund Balance

Expenses in excess of revenues totaled $392.9 thousand for the month. Operating fee revenue reflects one-twelfth of the 2024 Operating Fees. Expenses, net are after the overhead transfer rate adjustment that allocates a portion of expenses to the Share Insurance Fund.

Statements of Cash Flows

The cash position decreased $11.9 million from prior month. In the current month, $11.6 million was used in operating activities, $248.1 thousand was used in investing activities, and there were no financing activities.

Other Information

The Agency had 33 vacancies as of month-end, which represents 2.6 percent of the total authorized staff of 1,252. Of the 33 vacancies, there were no vacancies under authorized positions in the central office and 33 vacancies under the authorized positions in the regions and Asset Management and Assistance Center (AMAC).

BALANCE SHEETS

As of January 31, 2024 and 2023 (Dollars in thousands)

LIABILITIES AND FUND BALANCE

STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCE

For the periods ended January 31, 2024 and 2023 (Dollars in thousands)

STATEMENTS OF CASH FLOWS

For the periods ended January 31, 2024 and 2023 (Dollars in thousands)

The balances in the statement above are preliminary and unaudited.