July 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
July 31, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $20.0 million. The balance increased by $273.6 thousand from prior month, primarily due to:
- received $254.5 thousand in loan principal and interest
- received $52.3 thousand in investment interest
- disbursed $33.2 thousand in accrued technical assistance grants
Loans Receivable, Net decreased by $250.0 thousand, and accrued technical assistance decreased by $167.5 thousand.
Statements of Operations
The fund earned $53.8 thousand in interest revenue and incurred $134.3 thousand in negative expenses for the month due to technical assistance grants deobligations.
BALANCE SHEETS
As of July 31, 2024 and 2023 (Dollars in thousands)
| ASSETS | July 2024 | July 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
July 2024 $19,989 |
July 2023 $18,579 |
ASSETS Loans Receivable, Net |
July 2024 3,750 |
July 2023 3,000 |
ASSETS Interest Receivable |
July 2024 14 |
July 2023 6 |
ASSETS TOTAL ASSETS |
July 2024 23,753 |
July 2023 21,585 |
| LIABILITIES AND FUND BALANCE | July 2024 | July 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
July 2024 $3,431 |
July 2023 $1,639 |
LIABILITIES AND FUND BALANCE Accounts Payable |
July 2024 - |
July 2023 - |
LIABILITIES AND FUND BALANCE Total Liabilities |
July 2024 3,431 |
July 2023 1,639 |
| Fund Balance | July 2024 | July 2023 |
|---|---|---|
Fund Balance Fund Capital |
July 2024 $18,140 |
July 2023 $18,319 |
Fund Balance Accumulated Earnings |
July 2024 2,182 |
July 2023 1,627 |
Fund Balance Total Fund Balance |
July 2024 20,322 |
July 2023 19,946 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
July 2024 $23,753 |
July 2023 $21,585 |
STATEMENTS OF OPERATIONS
For the Periods Ended July 31, 2024 and 2023 (Dollars in thousands)
| REVENUES | July 2024 | Year-to-Date July 2024 |
Year-to-Date July 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
July 2024 $49 |
Year-to-Date
July 2024 $346 |
Year-to-Date
July 2023 $284 |
REVENUES Interest on Loans |
July 2024 5 |
Year-to-Date
July 2024 28 |
Year-to-Date
July 2023 15 |
REVENUES Canceled Technical Assistance Grants |
July 2024 (134) |
Year-to-Date
July 2024 (321) |
Year-to-Date
July 2023 (390) |
REVENUES Total Revenues |
July 2024 (80) |
Year-to-Date
July 2024 53 |
Year-to-Date
July 2023 (91) |
| EXPENSES | July 2024 | Year-to-Date July 2024 |
Year-to-Date July 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
July 2024 - |
Year-to-Date
July 2024 81 |
Year-to-Date
July 2023 15 |
EXPENSES Canceled Technical Assistance Grants |
July 2024 (134) |
Year-to-Date
July 2024 (321) |
Year-to-Date
July 2023 (411) |
EXPENSES TOTAL EXPENSES |
July 2024 (134) |
Year-to-Date
July 2024 (240) |
Year-to-Date
July 2023 (396) |
EXPENSES NET INCOME / (LOSS) |
July 2024 $54 |
Year-to-Date
July 2024 $293 |
Year-to-Date
July 2023 $305 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended July 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 Appropriations Received |
For Loans - |
For Technical Assistance 3,465 |
Total Fund Capital 3,465 |
Accumulated Earnings - |
Total Fund Balance 3,465 |
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 321 |
Total Fund Capital 321 |
Accumulated Earnings - |
Total Fund Balance 321 |
Fund Capital Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 293 |
Total Fund Balance 293 |
Fund Capital July 31, 2024 |
For Loans $13,388 |
For Technical Assistance $4,752 |
Total Fund Capital $18,140 |
Accumulated Earnings $2,182 |
Total Fund Balance $20,322 |
STATEMENTS OF CASH FLOWS
For the Periods Ended July 31, 2024 and 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | July 2024 | Year-to-Date July 2024 |
Year-to-Date July 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
July 2024 $54 |
Year-to-Date
July 2024 $293 |
Year-to-Date
July 2023 $305 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | July 2024 | Year-to-Date July 2024 |
Year-to-Date July 2023 |
|---|---|---|---|
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Canceled Technical Assistance Grants |
July 2024 $134 |
Year-to-Date
July 2024 $321 |
Year-to-Date
July 2023 $390 |
| Changes in Assets and Liabilities | July 2024 | Year-to-Date July 2024 |
Year-to-Date July 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
July 2024 3 |
Year-to-Date
July 2024 (2) |
Year-to-Date
July 2023 - |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
July 2024 (167) |
Year-to-Date
July 2024 (862) |
Year-to-Date
July 2023 (846) |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
July 2024 24 |
Year-to-Date
July 2024 (250) |
Year-to-Date
July 2023 (151) |
| CASH FLOWS FROM INVESTING ACTIVITIES | July 2024 | Year-to-Date July 2024 |
Year-to-Date July 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
July 2024 250 |
Year-to-Date
July 2024 250 |
Year-to-Date
July 2023 2,500 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
July 2024 - |
Year-to-Date
July 2024 (750) |
Year-to-Date
July 2023 (1,000) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
July 2024 250 |
Year-to-Date
July 2024 (500) |
Year-to-Date
July 2023 1,500 |
| CASH FLOWS FROM FINANCING ACTIVITIES | July 2024 | Year-to-Date July 2024 |
Year-to-Date July 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2024/2025 |
July 2024 - |
Year-to-Date
July 2024 3,465 |
Year-to-Date
July 2023 - |
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
July 2024 - |
Year-to-Date
July 2024 - |
Year-to-Date
July 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
July 2024 - |
Year-to-Date
July 2024 3,465 |
Year-to-Date
July 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
July 2024 274 |
Year-to-Date
July 2024 2,715 |
Year-to-Date
July 2023 4,849 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
July 2024 19,715 |
Year-to-Date
July 2024 17,274 |
Year-to-Date
July 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
July 2024 $19,989 |
Year-to-Date
July 2024 $19,989 |
Year-to-Date
July 2023 $18,579 |
The balances in the statement above are preliminary and unaudited.