April 2024 Revolving Loan Fund

MANAGEMENT OVERVIEW

April 30, 2024

Balance Sheets

Cash and cash equivalents had a month-end balance of $16.8 million. The balance decreased by $123.2 thousand from prior month, primarily due to:

• received $52.4 thousand in investment interest
• disbursed $177.5 thousand in accrued technical assistance grants

Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $147.5 thousand.

Statements of Operations

The fund earned $53.1 thousand in interest revenue and incurred $30.0 thousand in expenses for the month.

BALANCE SHEETS

As of April 30, 2024 and 2023 (Dollars in thousands)

ASSETS	April 2024	April 2023
Cash and Cash Equivalents	$16,775	$17,615
Loans Receivable, Net	3,500	4,000
Interest Receivable	12	9
TOTAL ASSETS	20,287	21,624

LIABILITIES AND FUND BALANCE	April 2024	April 2023
Accrued Technical Assistance Grants	$3,910	$2,232
Total Liabilities	3,910	2,232

Fund Balance	April 2024	April 2023
Fund Capital	$14,354	$17,929
Accumulated Earnings	2,023	1,463
Total Fund Balance	16,377	19,392
TOTAL LIABILITIES AND FUND BALANCE	$20,287	$21,624

 STATEMENTS OF OPERATIONS

For the Periods Ended April 30, 2024 and 2023 (Dollars in thousands)

REVENUES	April 2024	Year-to-Date April 2024	Year-to-Date April 2023
Interest on Cash Equivalents	$49	$200	$141
Interest on Loans	4	15	8
Total Revenues	53	215	149

EXPENSES	April 2024	Year-to-Date April 2024	Year-to-Date April 2023
Technical Assistance Grants	30	81	8
TOTAL EXPENSES	30	81	8
NET INCOME / (LOSS)	$23	$134	$141

STATEMENTS OF CHANGES IN FUND BALANCE

For the Periods Ended April 30, 2024 and December 31, 2023 (Dollars in thousands)

Fund Capital	For Loans	For Technical Assistance	Total Fund Capital	Accumulated Earnings	Total Fund Balance
December 31, 2022	$13,388	$1,041	$14,429	$1,322	$15,751
Appropriations Received	-	3,500	3,500	-	3,500
Appropriations Used	-	(3,546)	(3,546)	-	(3,546)
Canceled Appropriations - Returned to Treasury	-	(471)	(471)	-	(471)
Canceled Technical Assistance Grants	-	442	442	-	442
Net Income / (Loss)	-	-	-	567	567
December 31, 2023	$13,388	$966	$14,354	$1,889	$16,243
Appropriations Received	-	-	-	-	-
Appropriations Used	-	-	-	-	-
Canceled Appropriations - Returned to Treasury	-	-	-	-	-
Canceled Technical Assistance Grants	-	-	-	-	-
Net Income / (Loss)	-	-	-	134	134
April 30, 2024	$13,388	$966	$14,354	$2,023	$16,377

STATEMENTS OF CASH FLOWS

For the Periods Ended April 30, 2024 and 2023 (Dollars in thousands)

CASH FLOWS FROM OPERATING ACTIVITIES	April 2024	Year-to-Date April 2024	Year-to-Date April 2023
Net Income/(Loss)	$23	$134	$141

Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities 

Changes in Assets and Liabilities	April 2024	Year-to-Date April 2024	Year-to-Date April 2023
(Increase)/Decrease in Interest Receivable	1	-	(3)
Increase/(Decrease) in Accrued Technical Assistance Grants	(147)	(383)	(253)
Net Cash Provided by/(Used in) Operating Activities	(123)	(249)	(115)

CASH FLOWS FROM INVESTING ACTIVITIES	April 2024	Year-to-Date April 2024	Year-to-Date April 2023
Loan Principal Repayments	-	-	1,000
Loan Disbursements	-	(250)	(500)
Net Cash Provided by/(Used in) Investing Activities	-	(250)	500

CASH FLOWS FROM FINANCING ACTIVITIES	April 2024	Year-to-Date April 2024	Year-to-Date April 2023
Appropriations Received 2023/2024	-	-	3,500
Net Cash Provided by/(Used in) Financing Activities	-	-	3,500
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	(123)	(499)	3,885
CASH AND CASH EQUIVALENTS — Beginning of period	16,898	17,274	13,730
CASH AND CASH EQUIVALENTS — End of period	$16,775	$16,775	$17,615

 The balances in the statement above are preliminary and unaudited.