February 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
February 29, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $17.2 million. The balance decreased by $58.8 thousand from prior month, primarily due to:
- received $48.2 thousand in investment interest
- disbursed $113.5 thousand in accrued technical assistance grants
Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $69.9 thousand.
Statements of Operations
The fund earned $51.8 thousand in interest revenue and incurred $43.7 thousand in expenses for the month.
BALANCE SHEETS
As of February 29, 2024 and February 28, 2023 (Dollars in thousands)
| ASSETS | February 2024 | February 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
February 2024 $17,241 |
February 2023 $17,342 |
ASSETS Loans Receivable, Net |
February 2024 3,250 |
February 2023 4,250 |
ASSETS Interest Receivable |
February 2024 8 |
February 2023 6 |
ASSETS TOTAL ASSETS |
February 2024 20,499 |
February 2023 21,598 |
| LIABILITIES AND FUND BALANCE | February 2024 | February 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
February 2024 $4,200 |
February 2023 $2,282 |
LIABILITIES AND FUND BALANCE Total Liabilities |
February 2024 4,200 |
February 2023 2,282 |
| Fund Balance | February 2024 | February 2023 |
|---|---|---|
Fund Balance Fund Capital |
February 2024 $14,354 |
February 2023 $17,929 |
Fund Balance Accumulated Earnings |
February 2024 1,945 |
February 2023 1,387 |
Fund Balance Total Fund Balance |
February 2024 16,299 |
February 2023 19,316 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
February 2024 $20,499 |
February 2023 $21,598 |
STATEMENTS OF OPERATIONS
For the Periods Ended February 29, 2024 and February 28, 2023 (Dollars in thousands)
| REVENUES | February 2024 | Year-to-Date February 2024 |
Year-to-Date February 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
February 2024 $48 |
Year-to-Date
February 2024 $100 |
Year-to-Date
February 2023 $69 |
REVENUES Interest on Loans |
February 2024 4 |
Year-to-Date
February 2024 7 |
Year-to-Date
February 2023 4 |
REVENUES Total Revenues |
February 2024 52 |
Year-to-Date
February 2024 107 |
Year-to-Date
February 2023 73 |
| EXPENSES | February 2024 | Year-to-Date February 2024 |
Year-to-Date February 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
February 2024 44 |
Year-to-Date
February 2024 51 |
Year-to-Date
February 2023 8 |
EXPENSES TOTAL EXPENSES |
February 2024 44 |
Year-to-Date
February 2024 51 |
Year-to-Date
February 2023 8 |
EXPENSES NET INCOME / (LOSS) |
February 2024 $8 |
Year-to-Date
February 2024 $56 |
Year-to-Date
February 2023 $65 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended February 29, 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 56 |
Total Fund Balance 56 |
Fund Capital February 29, 2024 |
For Loans $13,388 |
For Technical Assistance $966 |
Total Fund Capital $14,354 |
Accumulated Earnings $1,945 |
Total Fund Balance $16,299 |
STATEMENTS OF CASH FLOWS
For the Periods Ended February 29, 2024 and February 28, 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | February 2024 | Year-to-Date February 2024 |
Year-to-Date February 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
February 2024 $8 |
Year-to-Date
February 2024 $56 |
Year-to-Date
February 2023 $65 |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities
| Changes in Assets and Liabilities | February 2024 | Year-to-Date February 2024 |
Year-to-Date February 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
February 2024 3 |
Year-to-Date
February 2024 4 |
Year-to-Date
February 2023 (1) |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
February 2024 (70) |
Year-to-Date
February 2024 (93) |
Year-to-Date
February 2023 (202) |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
February 2024 (59) |
Year-to-Date
February 2024 (33) |
Year-to-Date
February 2023 (138) |
| CASH FLOWS FROM INVESTING ACTIVITIES | February 2024 | Year-to-Date February 2024 |
Year-to-Date February 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
February 2024 - |
Year-to-Date
February 2024 - |
Year-to-Date
February 2023 500 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
February 2024 - |
Year-to-Date
February 2024 - |
Year-to-Date
February 2023 (250) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
February 2024 - |
Year-to-Date
February 2024 - |
Year-to-Date
February 2023 250 |
| CASH FLOWS FROM FINANCING ACTIVITIES | February 2024 | Year-to-Date February 2024 |
Year-to-Date February 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
February 2024 - |
Year-to-Date
February 2024 - |
Year-to-Date
February 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
February 2024 - |
Year-to-Date
February 2024 - |
Year-to-Date
February 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
February 2024 (59) |
Year-to-Date
February 2024 (33) |
Year-to-Date
February 2023 3,612 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
February 2024 17,300 |
Year-to-Date
February 2024 17,274 |
Year-to-Date
February 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
February 2024 $17,241 |
Year-to-Date
February 2024 $17,241 |
Year-to-Date
February 2023 $17,342 |
The balances in the statement above are preliminary and unaudited.