August 2025 Revolving Loan Fund
MANAGEMENT OVERVIEW
August 31, 2025
Balance Sheets
Cash and cash equivalents had a month-end balance of $21.3 million. The balance decreased by $137.3 thousand from prior month, primarily due to:
- received $39.2 thousand in investment interest
- received $5.6 thousand in loan interest
- disbursed $182.1 thousand in accrued technical assistance grants
Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $187.3 thousand.
Statements of Operations
The fund earned $46.8 thousand in interest revenue and had $5.2 thousand in canceled technical assistance grants during the month.
BALANCE SHEETS
As of August 31, 2025 and 2024 (Dollars in thousands)
| ASSETS | August 2025 | August 2024 |
|---|---|---|
| Cash and Cash Equivalents | $21,285 | $20,235 |
| Loans Receivable, Net | 3,883 | 3,500 |
| Interest Receivable | 17 | 14 |
| TOTAL ASSETS | 25,185 | 23,749 |
| LIABILITIES AND FUND BALANCE | August 2025 | August 2024 |
|---|---|---|
| Accrued Technical Assistance Grants | $4,194 | $6,439 |
| Total Liabilities | 4,194 | 6,439 |
| Fund Balance | August 2025 | August 2024 |
|---|---|---|
| Fund Capital | $18,310 | $15,072 |
| Accumulated Earnings | 2,681 | 2,238 |
| Total Fund Balance | 20,991 | 17,310 |
| TOTAL LIABILITIES AND FUND BALANCE | $25,185 | $23,749 |
STATEMENTS OF OPERATIONS
For the Periods Ended August 31, 2025 and 2024 (Dollars in thousands)
| REVENUES | August 2025 | Year-to-Date August 2025 |
Year-to-Date August 2024 |
|---|---|---|---|
| Interest on Cash Equivalents | $42 | $310 | $397 |
| Interest on Loans | 5 | 43 | 33 |
| Canceled Technical Assistance Grants | (5) | (113) | (321) |
| Total Revenues | 42 | 240 | 3,177 |
| EXPENSES | August 2025 | Year-to-Date August 2025 |
Year-to-Date August 2024 |
|---|---|---|---|
| Technical Assistance Grants | - | 67 | 3,149 |
| Canceled Technical Assistance Grants | (5) | (130) | (321) |
| TOTAL EXPENSES | (5) | (63) | 2,828 |
| NET INCOME / (LOSS) | $47 | $303 | $349 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended August 31, 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 | - | 113 | 113 | - | 113 |
| Net Income / (Loss) | - | - | - | 303 | 303 |
| August 31, 2025 | $13,388 | $4,922 | $18,310 | $2,681 | $20,991 |
STATEMENTS OF CASH FLOWS
For the Periods Ended August 31, 2025 and 2024 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | August 2025 | Year-to-Date August 2025 |
Year-to-Date August 2024 |
|---|---|---|---|
| Net Income/(Loss) | $47 | $303 | $349 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | August 2025 | Year-to-Date August 2025 |
Year-to-Date August 2024 |
|---|---|---|---|
| Appropriations Used | - | - | (3,068) |
| Canceled Technical Assistance Grants | 5 | 113 | 321 |
| Changes in Assets and Liabilities | August 2025 | Year-to-Date August 2025 |
Year-to-Date August 2024 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | (3) | (9) | (2) |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (187) | (1,807) | 2,146 |
| Net Cash Provided by/(Used in) Operating Activities | (138) | (1,400) | (254) |
| CASH FLOWS FROM INVESTING ACTIVITIES | August 2025 | Year-to-Date August 2025 |
Year-to-Date August 2024 |
|---|---|---|---|
| Loan Principal Repayments | - | 750 | 500 |
| Loan Disbursements | - | (750) | (750) |
| Net Cash Provided by/(Used in) Investing Activities | - | - | (250) |
| CASH FLOWS FROM FINANCING ACTIVITIES | August 2025 | Year-to-Date August 2025 |
Year-to-Date August 2024 |
|---|---|---|---|
| Appropriations Received 2025/2026 | - | 3,465 | - |
| Appropriations Received 2024/2025 | - | - | 3,465 |
| Net Cash Provided by/(Used in) Financing Activities | - | 3,465 | 3,465 |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (138) | 2,065 | 2,961 |
| CASH AND CASH EQUIVALENTS — Beginning of period | 21,423 | 19,220 | 17,274 |
| CASH AND CASH EQUIVALENTS — End of period | $21,285 | $21,285 | $20,235 |
The balances in the statement above are preliminary and unaudited.