January 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
January 31, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $17.3 million. The balance increased by $25.4 thousand from prior month, primarily due to:
- received $54.7 thousand in investment interest
- disbursed $30.0 thousand in technical assistance grants
Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $22.5 thousand.
Statements of Operations
The fund earned $55.1 thousand in interest revenue and incurred $7.5 thousand in expenses for the month.
BALANCE SHEETS
As of January 31, 2024 and 2023 (Dollars in thousands)
| ASSETS | January 2024 | January 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
January 2024 $17,300 |
January 2023 $13,971 |
ASSETS Loans Receivable, Net |
January 2024 3,250 |
January 2023 4,250 |
ASSETS Interest Receivable |
January 2024 11 |
January 2023 5 |
ASSETS TOTAL ASSETS |
January 2024 20,561 |
January 2023 18,226 |
| LIABILITIES AND FUND BALANCE | January 2024 | January 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
January 2024 $4,270 |
January 2023 $2,437 |
LIABILITIES AND FUND BALANCE Total Liabilities |
January 2024 4,270 |
January 2023 2,437 |
| Fund Balance | January 2024 | January 2023 |
|---|---|---|
Fund Balance Fund Capital |
January 2024 $14,354 |
January 2023 $14,429 |
Fund Balance Accumulated Earnings |
January 2024 1,937 |
January 2023 1,360 |
Fund Balance Total Fund Balance |
January 2024 16,291 |
January 2023 15,789 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
January 2024 $20,561 |
January 2023 $18,226 |
STATEMENTS OF OPERATIONS
For the Periods Ended January 31, 2024 and 2023 (Dollars in thousands)
| REVENUES | January 2024 | Year-to-Date January 2024 |
Year-to-Date January 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
January 2024 $51 |
Year-to-Date
January 2024 $51 |
Year-to-Date
January 2023 $36 |
REVENUES Interest on Loans |
January 2024 4 |
Year-to-Date
January 2024 4 |
Year-to-Date
January 2023 2 |
REVENUES Total Revenues |
January 2024 55 |
Year-to-Date
January 2024 55 |
Year-to-Date
January 2023 38 |
| EXPENSES | January 2024 | Year-to-Date January 2024 |
Year-to-Date January 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
January 2024 7 |
Year-to-Date
January 2024 7 |
Year-to-Date
January 2023 - |
EXPENSES TOTAL EXPENSES |
January 2024 7 |
Year-to-Date
January 2024 7 |
Year-to-Date
January 2023 - |
EXPENSES NET INCOME / (LOSS) |
January 2024 $48 |
Year-to-Date
January 2024 $48 |
Year-to-Date
January 2023 $38 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended January 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 Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 48 |
Total Fund Balance 48 |
Fund Capital January 31, 2024 |
For Loans $13,388 |
For Technical Assistance $966 |
Total Fund Capital $14,354 |
Accumulated Earnings $1,937 |
Total Fund Balance $16,291 |
STATEMENTS OF CASH FLOWS
For the Periods Ended January 31, 2024 and 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | January 2024 | Year-to-Date January 2024 |
Year-to-Date January 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
January 2024 $48 |
Year-to-Date
January 2024 $48 |
Year-to-Date
January 2023 $48 |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities
| Changes in Assets and Liabilities | January 2024 | Year-to-Date January 2024 |
Year-to-Date January 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
January 2024 1 |
Year-to-Date
January 2024 1 |
Year-to-Date
January 2023 - |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
January 2024 (23) |
Year-to-Date
January 2024 (23) |
Year-to-Date
January 2023 (47) |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
January 2024 26 |
Year-to-Date
January 2024 26 |
Year-to-Date
January 2023 (9) |
| CASH FLOWS FROM INVESTING ACTIVITIES | January 2024 | Year-to-Date January 2024 |
Year-to-Date January 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
January 2024 - |
Year-to-Date
January 2024 - |
Year-to-Date
January 2023 500 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
January 2024 - |
Year-to-Date
January 2024 - |
Year-to-Date
January 2023 (250) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
January 2024 - |
Year-to-Date
January 2024 - |
Year-to-Date
January 2023 250 |
| CASH FLOWS FROM FINANCING ACTIVITIES | January 2024 | Year-to-Date January 2024 |
Year-to-Date January 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
January 2024 26 |
Year-to-Date
January 2024 26 |
Year-to-Date
January 2023 241 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
January 2024 17,274 |
Year-to-Date
January 2024 17,274 |
Year-to-Date
January 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
January 2024 $17,300 |
Year-to-Date
January 2024 $17,300 |
Year-to-Date
January 2023 $13,971 |
The balances in the statement above are preliminary and unaudited.