January 2025 Revolving Loan Fund
MANAGEMENT OVERVIEW
January 31, 2025
Balance Sheets
Cash and cash equivalents had a month-end balance of $18.6 million. The balance decreased by $636.8 thousand from prior month, primarily due to:
- received $40.7 thousand in investment interest
- disbursed $427.5 thousand in accrued technical assistance grants
- disbursed $250.0 thousand in new loans
Loans Receivable, Net increased by $250.0 thousand, and accrued technical assistance decreased by $482.3 thousand.
Statements of Operations
The fund earned $45.7 thousand in interest revenue and incurred $54.8 thousand in expenses for the month.
BALANCE SHEETS
As of January 31, 2025 and 2024 (Dollars in thousands)
| ASSETS | January 2025 | January 2024 |
|---|---|---|
| Cash and Cash Equivalents | $18,583 | $17,300 |
| Loans Receivable, Net | 4,133 | 3,250 |
| Interest Receivable | 13 | 11 |
| TOTAL ASSETS | 22,729 | 20,561 |
| LIABILITIES AND FUND BALANCE | January 2025 | January 2024 |
|---|---|---|
| Accrued Technical Assistance Grants | $5,518 | $4,270 |
| Total Liabilities | 5,518 | 4,270 |
| Fund Balance | January 2025 | January 2024 |
|---|---|---|
| Fund Capital | $14,816 | $14,354 |
| Accumulated Earnings | 2,395 | 1,937 |
| Total Fund Balance | 17,211 | 16,291 |
| TOTAL LIABILITIES AND FUND BALANCE | $22,729 | $20,561 |
STATEMENTS OF OPERATIONS
For the Periods Ended January 31, 2025 and 2024 (Dollars in thousands)
| REVENUES | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
| Interest on Cash Equivalents | $41 | $41 | $51 |
| Interest on Loans | 5 | 5 | 4 |
| Canceled Technical Assistance Grants | (84) | (84) | - |
| Total Revenues | (38) | (38) | 55 |
| EXPENSES | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
| Technical Assistance Grants | 30 | 30 | 7 |
| Canceled Technical Assistance Grants | (85) | (85) | - |
| TOTAL EXPENSES | (55) | (55) | 7 |
| NET INCOME / (LOSS) | $17 | $17 | $48 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended January 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 | - | - | - | - | - |
| Appropriations Used | - | - | - | - | - |
| Canceled Appropriations - Returned to Treasury | - | - | - | - | - |
| Canceled Technical Assistance Grants | - | 84 | 84 | - | 84 |
| Net Income / (Loss) | - | - | - | 17 | 17 |
| January 31, 2025 | $13,388 | $1,428 | $14,816 | $2,395 | $17,211 |
STATEMENTS OF CASH FLOWS
For the Periods Ended January 31, 2025 and 2024 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
| Net Income/(Loss) | $17 | $17 | $48 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
| Canceled Technical Assistance Grants | $84 | $84 | - |
| Changes in Assets and Liabilities | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | (5) | (5) | 1 |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (483) | (483) | (23) |
| Net Cash Provided by/(Used in) Operating Activities | (387) | (387) | 26 |
| CASH FLOWS FROM INVESTING ACTIVITIES | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
| Loan Disbursements | (250) | (250) | - |
| Net Cash Provided by/(Used in) Investing Activities | (250) | (250) | - |
| CASH FLOWS FROM FINANCING ACTIVITIES | January 2025 | Year-to-Date January 2025 |
Year-to-Date January 2024 |
|---|---|---|---|
| Net Cash Provided by/(Used in) Financing Activities | - | - | - |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (637) | (637) | 26 |
| CASH AND CASH EQUIVALENTS — Beginning of period | 19,220 | 19,220 | 17,274 |
| CASH AND CASH EQUIVALENTS — End of period | $18,583 | $18,583 | $17,300 |
The balances in the statement above are preliminary and unaudited.