February 2025 Revolving Loan Fund
MANAGEMENT OVERVIEW
February 28, 2025
Balance Sheets
Cash and cash equivalents had a month-end balance of $18.4 million. The balance decreased by $213.3 thousand from prior month, primarily due to:
- disbursed $255.0 thousand in accrued technical assistance grants
- received $36.1 thousand in investment interest
- received $5.6 thousand in loans interest
Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $232.5 thousand.
Statements of Operations
The fund earned $40.9 thousand in interest revenue and incurred $22.5 thousand in expenses for the month.
BALANCE SHEETS
As of February 28, 2025 and February 29, 2024 (Dollars in thousands)
| ASSETS | February 2025 | February 2024 |
|---|---|---|
| Cash and Cash Equivalents | $18,370 | $17,241 |
| Loans Receivable, Net | 4,133 | 3,250 |
| Interest Receivable | 13 | 8 |
| TOTAL ASSETS | 22,516 | 20,499 |
| LIABILITIES AND FUND BALANCE | February 2025 | February 2024 |
|---|---|---|
| Accrued Technical Assistance Grants | $5,287 | $4,200 |
| Total Liabilities | 5,287 | 4,200 |
| Fund Balance | February 2025 | February 2024 |
|---|---|---|
| Fund Capital | $14,816 | $14,354 |
| Accumulated Earnings | 2,413 | 1,945 |
| Total Fund Balance | 17,229 | 16,299 |
| TOTAL LIABILITIES AND FUND BALANCE | $22,516 | $20,499 |
STATEMENTS OF OPERATIONS
For the Periods Ended February 28, 2025 and February 29, 2024 (Dollars in thousands)
| REVENUES | February 2025 | Year-to-Date February 2025 |
Year-to-Date February 2024 |
|---|---|---|---|
| Interest on Cash Equivalents | $36 | $77 | $100 |
| Interest on Loans | 5 | 10 | 7 |
| Canceled Technical Assistance Grants | - | (84) | - |
| Total Revenues | 41 | 3 | 107 |
| EXPENSES | February 2025 | Year-to-Date February 2025 |
Year-to-Date February 2024 |
|---|---|---|---|
| Technical Assistance Grants | 23 | 53 | 51 |
| Canceled Technical Assistance Grants | - | (85) | - |
| TOTAL EXPENSES | 23 | (32) | 51 |
| NET INCOME / (LOSS) | $18 | $35 | $56 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended February 28, 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 | - | - | - | - | - |
| Appropriations Used | - | - | - | - | - |
| Canceled Appropriations - Returned to Treasury | - | - | - | - | - |
| Canceled Technical Assistance Grants | - | 84 | 84 | - | 84 |
| Net Income / (Loss) | - | - | - | 35 | 35 |
| February 28, 2025 | $13,388 | $1,428 | $14,816 | $2,413 | $17,229 |
STATEMENTS OF CASH FLOWS
For the Periods Ended February 28, 2025 and February 29, 2024 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | February 2025 | Year-to-Date February 2025 |
Year-to-Date February 2024 |
|---|---|---|---|
| Net Income/(Loss) | $18 | $35 | $56 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | February 2025 | Year-to-Date February 2025 |
Year-to-Date February 2024 |
|---|---|---|---|
| Canceled Technical Assistance Grants | - | 84 | - |
| Changes in Assets and Liabilities | February 2025 | Year-to-Date February 2025 |
Year-to-Date February 2024 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | - | (5) | 4 |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (231) | (714) | (93) |
| Net Cash Provided by/(Used in) Operating Activities | (213) | (600) | (33) |
| CASH FLOWS FROM INVESTING ACTIVITIES | February 2025 | Year-to-Date February 2025 |
Year-to-Date February 2024 |
|---|---|---|---|
| Loan Disbursements | - | (250) | - |
| Net Cash Provided by/(Used in) Investing Activities | - | (250) | - |
| CASH FLOWS FROM FINANCING ACTIVITIES | February 2025 | Year-to-Date February 2025 |
Year-to-Date February 2024 |
|---|---|---|---|
| Net Cash Provided by/(Used in) Financing Activities | - | - | - |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (213) | (850) | (33) |
| CASH AND CASH EQUIVALENTS — Beginning of period | 18,583 | 19,220 | 17,274 |
| CASH AND CASH EQUIVALENTS — End of period | $18,370 | $18,370 | $17,241 |
The balances in the statement above are preliminary and unaudited.