MANAGEMENT OVERVIEW
February 28, 2026
Balance Sheets
Cash and cash equivalents had a month-end balance of $20.3 million. The balance decreased by $306.7 thousand from prior month, primarily due to:
- disbursed $345.3 thousand in accrued technical assistance grants
- received $32.9 thousand in investment interest
- received $5.7 thousand in loan interest
Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $415.3 thousand.
Statements of Operations
The fund earned $37.3 thousand in interest revenue and had $100.0 thousand in canceled technical assistance grants offset by $30.0 thousand in urgent needs grants issued during the month.
BALANCE SHEETS
As of February 28, 2026 and 2025 (Dollars in thousands)
| ASSETS | February 2026 | February 2025 |
|---|
| Cash and Cash Equivalents | $20,268 | $18,370 |
| Loans Receivable, Net | 3,883 | 4,133 |
| Interest Receivable | 13 | 13 |
| TOTAL ASSETS | 24,164 | 22,516 |
| LIABILITIES AND FUND BALANCE | February 2026 | February 2025 |
|---|
| Accrued Technical Assistance Grants | 3,608 | 5,287 |
| Total Liabilities | 3,608 | 5,287 |
| Fund Balance | February 2026 | February 2025 |
|---|
| Fund Capital | 17,656 | 14,816 |
| Accumulated Earnings | 2,900 | 2,413 |
| Total Fund Balance | 20,556 | 17,229 |
| TOTAL LIABILITIES AND FUND BALANCE | $24,164 | $22,516 |
STATEMENTS OF OPERATIONS
For the Periods Ended February 28, 2026 and 2025 (Dollars in thousands)
| REVENUES | February 2026 | Year-to-Date February 2026 | Year-to-Date February 2025 |
|---|
| Interest on Cash Equivalents | $33 | $69 | $77 |
| Interest on Loans | 4 | 9 | 10 |
| Canceled Technical Assistance Grants | (100) | (100) | (84) |
| Total Revenues | (63) | (22) | 3 |
| EXPENSES | February 2026 | Year-to-Date February 2026 | Year-to-Date February 2025 |
|---|
| Technical Assistance Grants | 30 | 30 | 53 |
| Canceled Technical Assistance Grants | (100) | (100) | (85) |
| TOTAL EXPENSES | (70) | (70) | (32) |
| NET INCOME / (LOSS) | $7 | $48 | $35 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended February 28, 2026 and December 31, 2025 (Dollars in thousands)
| Fund Capital | For Loans | For Technical Assistance | Total Fund Capital | Accumulated Earnings | Total Fund Balance |
|---|
| December 31, 2024 | $13,388 | $1,344 | $14,732 | $2,378 | $17,110 |
| Appropriations Received | - | 3,465 | 3,465 | - | 3,465 |
| Appropriations Used | - | (445) | (445) | - | (445) |
| Canceled Appropriations - Returned to Treasury | - | (309) | (309) | - | (309) |
| Canceled Technical Assistance Grants | - | 113 | 113 | - | 113 |
| Net Income / (Loss) | - | - | - | 474 | 474 |
| December 31, 2025 | $13,388 | $4,168 | $17,556 | $2,852 | $20,408 |
| Appropriations Received | - | - | - | - | - |
| Appropriations Used | - | - | - | - | - |
| Canceled Appropriations - Returned to Treasury | - | - | - | - | - |
| Canceled Technical Assistance Grants | - | 100 | 100 | - | 100 |
| Net Income / (Loss) | - | - | - | 48 | 48 |
| February 28, 2026 | $13,388 | $4,268 | $17,656 | $2,900 | $20,556 |
STATEMENTS OF CASH FLOWS
For the Periods Ended February 28, 2026 and 2025 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | February 2026 | Year-to-Date February 2026 | Year-to-Date February 2025 |
|---|
| Net Income/(Loss) | $7 | $48 | $35 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | February 2026 | Year-to-Date February 2026 | Year-to-Date February 2025 |
|---|
| Canceled Technical Assistance Grants | 100 | 100 | 84 |
| Changes in Assets and Liabilities | February 2026 | Year-to-Date February 2026 | Year-to-Date February 2025 |
|---|
| (Increase)/Decrease in Interest Receivable | 1 | (3) | (5) |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (415) | (415) | (714) |
| Net Cash Provided by/(Used in) Operating Activities | (307) | (270) | (600) |
| CASH FLOWS FROM INVESTING ACTIVITIES | February 2026 | Year-to-Date February 2026 | Year-to-Date February 2025 |
|---|
| Loan Disbursements | - | - | (250) |
| Net Cash Provided by/(Used in) Investing Activities | - | - | (250) |
| CASH FLOWS FROM FINANCING ACTIVITIES | February 2026 | Year-to-Date February 2026 | Year-to-Date February 2025 |
|---|
| Net Cash Provided by/(Used in) Financing Activities | - | - | - |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (307) | (270) | (850) |
| CASH AND CASH EQUIVALENTS — Beginning of period | 20,575 | 20,538 | 19,220 |
| CASH AND CASH EQUIVALENTS — End of period | $20,268 | $20,268 | $18,370 |
The balances in the statement above are preliminary and unaudited.
