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 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
April 2024 $16,775 |
April 2023 $17,615 |
ASSETS Loans Receivable, Net |
April 2024 3,500 |
April 2023 4,000 |
ASSETS Interest Receivable |
April 2024 12 |
April 2023 9 |
ASSETS TOTAL ASSETS |
April 2024 20,287 |
April 2023 21,624 |
| LIABILITIES AND FUND BALANCE | April 2024 | April 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
April 2024 $3,910 |
April 2023 $2,232 |
LIABILITIES AND FUND BALANCE Total Liabilities |
April 2024 3,910 |
April 2023 2,232 |
| Fund Balance | April 2024 | April 2023 |
|---|---|---|
Fund Balance Fund Capital |
April 2024 $14,354 |
April 2023 $17,929 |
Fund Balance Accumulated Earnings |
April 2024 2,023 |
April 2023 1,463 |
Fund Balance Total Fund Balance |
April 2024 16,377 |
April 2023 19,392 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
April 2024 $20,287 |
April 2023 $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 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
April 2024 $49 |
Year-to-Date
April 2024 $200 |
Year-to-Date
April 2023 $141 |
REVENUES Interest on Loans |
April 2024 4 |
Year-to-Date
April 2024 15 |
Year-to-Date
April 2023 8 |
REVENUES Total Revenues |
April 2024 53 |
Year-to-Date
April 2024 215 |
Year-to-Date
April 2023 149 |
| EXPENSES | April 2024 | Year-to-Date April 2024 |
Year-to-Date April 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
April 2024 30 |
Year-to-Date
April 2024 81 |
Year-to-Date
April 2023 8 |
EXPENSES TOTAL EXPENSES |
April 2024 30 |
Year-to-Date
April 2024 81 |
Year-to-Date
April 2023 8 |
EXPENSES NET INCOME / (LOSS) |
April 2024 $23 |
Year-to-Date
April 2024 $134 |
Year-to-Date
April 2023 $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 |
|---|---|---|---|---|---|
Fund Capital December 31, 2022 |
For Loans $13,388 |
For Technical Assistance $1,041 |
Total Fund Capital $14,429 |
Accumulated Earnings $1,322 |
Total Fund Balance $15,751 |
Fund Capital Appropriations Received |
For Loans - |
For Technical Assistance 3,500 |
Total Fund Capital 3,500 |
Accumulated Earnings - |
Total Fund Balance 3,500 |
Fund Capital Appropriations Used |
For Loans - |
For Technical Assistance (3,546) |
Total Fund Capital (3,546) |
Accumulated Earnings - |
Total Fund Balance (3,546) |
Fund Capital Canceled Appropriations - Returned to Treasury |
For Loans - |
For Technical Assistance (471) |
Total Fund Capital (471) |
Accumulated Earnings - |
Total Fund Balance (471) |
Fund Capital Canceled Technical Assistance Grants |
For Loans - |
For Technical Assistance 442 |
Total Fund Capital 442 |
Accumulated Earnings - |
Total Fund Balance 442 |
Fund Capital Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 567 |
Total Fund Balance 567 |
Fund Capital December 31, 2023 |
For Loans $13,388 |
For Technical Assistance $966 |
Total Fund Capital $14,354 |
Accumulated Earnings $1,889 |
Total Fund Balance $16,243 |
Fund Capital Appropriations Received |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings - |
Total Fund Balance - |
Fund Capital Appropriations Used |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings - |
Total Fund Balance - |
Fund Capital Canceled Appropriations - Returned to Treasury |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings - |
Total Fund Balance - |
Fund Capital Canceled Technical Assistance Grants |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings - |
Total Fund Balance - |
Fund Capital Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 134 |
Total Fund Balance 134 |
Fund Capital April 30, 2024 |
For Loans $13,388 |
For Technical Assistance $966 |
Total Fund Capital $14,354 |
Accumulated Earnings $2,023 |
Total Fund Balance $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 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
April 2024 $23 |
Year-to-Date
April 2024 $134 |
Year-to-Date
April 2023 $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 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
April 2024 1 |
Year-to-Date
April 2024 - |
Year-to-Date
April 2023 (3) |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
April 2024 (147) |
Year-to-Date
April 2024 (383) |
Year-to-Date
April 2023 (253) |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
April 2024 (123) |
Year-to-Date
April 2024 (249) |
Year-to-Date
April 2023 (115) |
| CASH FLOWS FROM INVESTING ACTIVITIES | April 2024 | Year-to-Date April 2024 |
Year-to-Date April 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
April 2024 - |
Year-to-Date
April 2024 - |
Year-to-Date
April 2023 1,000 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
April 2024 - |
Year-to-Date
April 2024 (250) |
Year-to-Date
April 2023 (500) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
April 2024 - |
Year-to-Date
April 2024 (250) |
Year-to-Date
April 2023 500 |
| CASH FLOWS FROM FINANCING ACTIVITIES | April 2024 | Year-to-Date April 2024 |
Year-to-Date April 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
April 2024 - |
Year-to-Date
April 2024 - |
Year-to-Date
April 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
April 2024 - |
Year-to-Date
April 2024 - |
Year-to-Date
April 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
April 2024 (123) |
Year-to-Date
April 2024 (499) |
Year-to-Date
April 2023 3,885 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
April 2024 16,898 |
Year-to-Date
April 2024 17,274 |
Year-to-Date
April 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
April 2024 $16,775 |
Year-to-Date
April 2024 $16,775 |
Year-to-Date
April 2023 $17,615 |
The balances in the statement above are preliminary and unaudited.