April 2025 Revolving Loan Fund
MANAGEMENT OVERVIEW
April 30, 2025
Balance Sheets
Cash and cash equivalents had a month-end balance of $20.9 million. The balance decreased by $46.6 thousand from prior month, primarily due to:
- received $37.2 thousand in investment interest
- disbursed $86.7 thousand in accrued technical assistance grants
Loans Receivable, Net remains unchanged and accrued technical assistance decreased by $86.7 thousand.
Statements of Operations
The fund earned $42.9 thousand in interest revenue.
BALANCE SHEETS
As of April 30, 2025 and 2024 (Dollars in thousands)
| ASSETS | April 2025 | April 2024 |
|---|---|---|
| Cash and Cash Equivalents | $20,904 | $16,775 |
| Loans Receivable, Net | 4,633 | 3,500 |
| Interest Receivable | 19 | 12 |
| TOTAL ASSETS | 25,566 | 20,287 |
| LIABILITIES AND FUND BALANCE | April 2025 | April 2024 |
|---|---|---|
| Accrued Technical Assistance Grants | $4,789 | $3,910 |
| Total Liabilities | 4,789 | 3,910 |
| Fund Balance | April 2025 | April 2024 |
|---|---|---|
| Fund Capital | $18,281 | $14,354 |
| Accumulated Earnings | 2,486 | 2,023 |
| Total Fund Balance | 20,767 | 16,377 |
| TOTAL LIABILITIES AND FUND BALANCE | $25,556 | $20,287 |
STATEMENTS OF OPERATIONS
For the Periods Ended April 30, 2025 and 2024 (Dollars in thousands)
| REVENUES | April 2025 | Year-to-Date April 2025 |
Year-to-Date April 2024 |
|---|---|---|---|
| Interest on Cash Equivalents | $37 | $153 | $200 |
| Interest on Loans | 6 | 21 | 15 |
| Canceled Technical Assistance Grants | - | (84) | - |
| Total Revenues | 43 | 90 | 215 |
| EXPENSES | April 2025 | Year-to-Date April 2025 |
Year-to-Date April 2024 |
|---|---|---|---|
| Technical Assistance Grants | - | 67 | 81 |
| Canceled Technical Assistance Grants | - | (85) | - |
| TOTAL EXPENSES | - | (18) | 81 |
| NET INCOME / (LOSS) | $43 | $108 | $134 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended April 30, 2025 and December 31, 2024 (Dollars in thousands)
| Fund Capital | For Loans | For Technical Assistance | Total Fund Capital | Accumulated Earnings | Total Fund Balance |
|---|---|---|---|---|---|
| December 31, 2023 | $13,388 | $966 | $14,354 | $1,889 | $16,243 |
| Appropriations Received | - | 3,465 | 3,465 | - | 3,465 |
| Appropriations Used | - | (3,111) | (3,111) | - | (3,111) |
| Canceled Appropriations - Returned to Treasury | - | (297) | (297) | - | (297) |
| Canceled Technical Assistance Grants | - | 321 | 321 | - | 321 |
| Net Income / (Loss) | - | - | - | 489 | 489 |
| December 31, 2024 | $13,388 | $1,344 | $14,732 | $2,378 | $17,110 |
| Appropriations Received | - | 3,465 | 3,465 | - | 3,465 |
| Appropriations Used | - | - | - | - | - |
| Canceled Appropriations - Returned to Treasury | - | - | - | - | - |
| Canceled Technical Assistance Grants | - | 84 | 84 | - | 84 |
| Net Income / (Loss) | - | - | - | 108 | 108 |
| April 30, 2025 | $13,388 | $4,893 | $18,281 | $2,486 | $20,767 |
STATEMENTS OF CASH FLOWS
For the Periods Ended April 30, 2025 and 2024 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | April 2025 | Year-to-Date April 2025 |
Year-to-Date April 2024 |
|---|---|---|---|
| Net Income/(Loss) | $43 | $108 | $134 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | April 2025 | Year-to-Date April 2025 |
Year-to-Date April 2024 |
|---|---|---|---|
| Canceled Technical Assistance Grants | - | 84 | - |
| Changes in Assets and Liabilities | April 2025 | Year-to-Date April 2025 |
Year-to-Date April 2024 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | (3) | (11) | - |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (87) | (1,212) | (383) |
| Net Cash Provided by/(Used in) Operating Activities | (47) | (1,031) | (249) |
| CASH FLOWS FROM INVESTING ACTIVITIES | April 2025 | Year-to-Date April 2025 |
Year-to-Date April 2024 |
|---|---|---|---|
| Loan Disbursements | - | (750) | (250) |
| Net Cash Provided by/(Used in) Investing Activities | - | (750) | (250) |
| CASH FLOWS FROM FINANCING ACTIVITIES | April 2025 | Year-to-Date April 2025 |
Year-to-Date April 2024 |
|---|---|---|---|
| Appropriations Received 2025/2026 | - | 3,465 | - |
| Net Cash Provided by/(Used in) Financing Activities | - | 3,465 | - |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (47) | 1,684 | (499) |
| CASH AND CASH EQUIVALENTS — Beginning of period | 20,951 | 19,220 | 17,274 |
| CASH AND CASH EQUIVALENTS — End of period | $20,904 | $20,904 | $16,775 |
The balances in the statement above are preliminary and unaudited.