August 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
August 31, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $20.2 million. The balance increased by $246.6 thousand from prior month, primarily due to:
- received $256.4 thousand in loan principal and interest payments
- received $49.3 thousand in investment interest
- disbursed $59.0 thousand in accrued technical assistance grants
Loans Receivable, Net decreased by $250.0 thousand, and accrued technical assistance increased by $3.0 million.
Statements of Operations
The fund earned $55.4 thousand in interest revenue and incurred $3.1 million in expenses for the month.
BALANCE SHEETS
As of August 31, 2024 and 2023 (Dollars in thousands)
| ASSETS | August 2024 | August 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
August 2024 $20,235 |
August 2023 $18,014 |
ASSETS Loans Receivable, Net |
August 2024 3,500 |
August 2023 3,500 |
ASSETS Interest Receivable |
August 2024 14 |
August 2023 6 |
ASSETS TOTAL ASSETS |
August 2024 23,749 |
August 2023 21,520 |
| LIABILITIES AND FUND BALANCE | August 2024 | August 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
August 2024 $6,439 |
August 2023 $1,529 |
LIABILITIES AND FUND BALANCE Total Liabilities |
August 2024 6,439 |
August 2023 1,529 |
| Fund Balance | August 2024 | August 2023 |
|---|---|---|
Fund Balance Fund Capital |
August 2024 $15,072 |
August 2023 $18,319 |
Fund Balance Accumulated Earnings |
August 2024 2,238 |
August 2023 1,627 |
Fund Balance Total Fund Balance |
August 2024 17,310 |
August 2023 19,991 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
August 2024 $23,749 |
August 2023 $21,520 |
STATEMENTS OF OPERATIONS
For the Periods Ended August 31, 2024 and 2023 (Dollars in thousands)
| REVENUES | August 2024 | Year-to-Date August 2024 |
Year-to-Date August 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
August 2024 $51 |
Year-to-Date
August 2024 $397 |
Year-to-Date
August 2023 $334 |
REVENUES Interest on Loans |
August 2024 4 |
Year-to-Date
August 2024 33 |
Year-to-Date
August 2023 18 |
REVENUES Appropriations Used |
August 2024 3,068 |
Year-to-Date
August 2024 3,068 |
Year-to-Date
August 2023 - |
REVENUES Canceled Technical Assistance Grants |
August 2024 - |
Year-to-Date
August 2024 (321) |
Year-to-Date
August 2023 (390) |
REVENUES Total Revenues |
August 2024 3,123 |
Year-to-Date
August 2024 3,177 |
Year-to-Date
August 2023 (38) |
| EXPENSES | August 2024 | Year-to-Date August 2024 |
Year-to-Date August 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
August 2024 3,068 |
Year-to-Date
August 2024 3,149 |
Year-to-Date
August 2023 23 |
EXPENSES Canceled Technical Assistance Grants |
August 2024 - |
Year-to-Date
August 2024 (321) |
Year-to-Date
August 2023 (411) |
EXPENSES TOTAL EXPENSES |
August 2024 3,068 |
Year-to-Date
August 2024 2,828 |
Year-to-Date
August 2023 (388) |
EXPENSES NET INCOME / (LOSS) |
August 2024 $55 |
Year-to-Date
August 2024 $349 |
Year-to-Date
August 2023 $350 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended August 31, 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 3,465 |
Total Fund Capital 3,465 |
Accumulated Earnings - |
Total Fund Balance 3,465 |
Fund Capital Appropriations Used |
For Loans - |
For Technical Assistance (3,068) |
Total Fund Capital (3,068) |
Accumulated Earnings - |
Total Fund Balance (3,068) |
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 321 |
Total Fund Capital 321 |
Accumulated Earnings - |
Total Fund Balance 321 |
Fund Capital Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 349 |
Total Fund Balance 349 |
Fund Capital August 31, 2024 |
For Loans $13,388 |
For Technical Assistance $1,684 |
Total Fund Capital $15,072 |
Accumulated Earnings $2,238 |
Total Fund Balance $17,310 |
STATEMENTS OF CASH FLOWS
For the Periods Ended August 31, 2024 and 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | August 2024 | Year-to-Date August 2024 |
Year-to-Date August 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
August 2024 $55 |
Year-to-Date
August 2024 $349 |
Year-to-Date
August 2023 $350 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | August 2024 | Year-to-Date August 2024 |
Year-to-Date August 2023 |
|---|---|---|---|
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Appropriations Used |
August 2024 (3,068) |
Year-to-Date
August 2024 (3,068) |
Year-to-Date
August 2023 - |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Canceled Technical Assistance Grants |
August 2024 - |
Year-to-Date
August 2024 $321 |
Year-to-Date
August 2023 $390 |
| Changes in Assets and Liabilities | August 2024 | Year-to-Date August 2024 |
Year-to-Date August 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
August 2024 - |
Year-to-Date
August 2024 (2) |
Year-to-Date
August 2023 (1) |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
August 2024 3,009 |
Year-to-Date
August 2024 2,146 |
Year-to-Date
August 2023 (955) |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
August 2024 (4) |
Year-to-Date
August 2024 (254) |
Year-to-Date
August 2023 (216) |
| CASH FLOWS FROM INVESTING ACTIVITIES | August 2024 | Year-to-Date August 2024 |
Year-to-Date August 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
August 2024 250 |
Year-to-Date
August 2024 500 |
Year-to-Date
August 2023 2,750 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
August 2024 - |
Year-to-Date
August 2024 (750) |
Year-to-Date
August 2023 (1,750) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
August 2024 250 |
Year-to-Date
August 2024 (250) |
Year-to-Date
August 2023 1,000 |
| CASH FLOWS FROM FINANCING ACTIVITIES | August 2024 | Year-to-Date August 2024 |
Year-to-Date August 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2024/2025 |
August 2024 - |
Year-to-Date
August 2024 3,465 |
Year-to-Date
August 2023 - |
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
August 2024 - |
Year-to-Date
August 2024 - |
Year-to-Date
August 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
August 2024 - |
Year-to-Date
August 2024 3,465 |
Year-to-Date
August 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
August 2024 246 |
Year-to-Date
August 2024 2,961 |
Year-to-Date
August 2023 4,284 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
August 2024 19,989 |
Year-to-Date
August 2024 17,274 |
Year-to-Date
August 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
August 2024 $20,235 |
Year-to-Date
August 2024 $20,235 |
Year-to-Date
August 2023 $18,014 |
The balances in the statement above are preliminary and unaudited.