July 2025 Revolving Loan Fund
MANAGEMENT OVERVIEW
July 31, 2025
Balance Sheets
Cash and cash equivalents had a month-end balance of $21.4 million. The balance increased by $197.5 thousand from prior month, primarily due to:
- received $251.9 thousand in loan principal and interest payments
- received $40.0 thousand in investment interest
- disbursed $94.4 thousand in accrued technical assistance grants
Loans Receivable, Net decreased by $250.0 thousand, and accrued technical assistance decreased by $133.9 thousand.
Statements of Operations
The fund earned $45.3 thousand in interest revenue and incurred $39.5 thousand in expenses for the month.
BALANCE SHEETS
As of July 31, 2025 and 2024 (Dollars in thousands)
| ASSETS | July 2025 | July 2024 |
|---|---|---|
| Cash and Cash Equivalents | $21,423 | $19,989 |
| Loans Receivable, Net | 3,883 | 3,750 |
| Interest Receivable | 14 | 14 |
| TOTAL ASSETS | 25,320 | 23,753 |
| LIABILITIES AND FUND BALANCE | July 2025 | July 2024 |
|---|---|---|
| Accrued Technical Assistance Grants | $4,382 | $3,431 |
| Total Liabilities | 4,382 | 3,431 |
| Fund Balance | July 2025 | July 2024 |
|---|---|---|
| Fund Capital | $18,304 | $18,140 |
| Accumulated Earnings | 2,634 | 2,182 |
| Total Fund Balance | 20,938 | 20,322 |
| TOTAL LIABILITIES AND FUND BALANCE | $25,320 | $23,753 |
STATEMENTS OF OPERATIONS
For the Periods Ended July 31, 2025 and 2024 (Dollars in thousands)
| REVENUES | July 2025 | Year-to-Date July 2025 |
Year-to-Date July 2024 |
|---|---|---|---|
| Interest on Cash Equivalents | $40 | $268 | $346 |
| Interest on Loans | 5 | 38 | 28 |
| Canceled Technical Assistance Grants | (24) | (107) | (321) |
| Total Revenues | 21 | 199 | 53 |
| EXPENSES | July 2025 | Year-to-Date July 2025 |
Year-to-Date July 2024 |
|---|---|---|---|
| Technical Assistance Grants | - | 67 | 81 |
| Canceled Technical Assistance Grants | (39) | (124) | (321) |
| TOTAL EXPENSES | (39) | (57) | (240) |
| NET INCOME / (LOSS) | $60 | $256 | $293 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended July 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 | - | 3,465 | 3,465 | - | 3,465 |
| Appropriations Used | - | - | - | - | - |
| Canceled Appropriations - Returned to Treasury | - | - | - | - | - |
| Canceled Technical Assistance Grants | - | 107 | 107 | - | 107 |
| Net Income / (Loss) | - | - | - | 256 | 256 |
| July 31, 2025 | $13,388 | $4,916 | $18,304 | $2,634 | $20,938 |
STATEMENTS OF CASH FLOWS
For the Periods Ended July 31, 2025 and 2024 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | July 2025 | Year-to-Date July 2025 |
Year-to-Date July 2024 |
|---|---|---|---|
| Net Income/(Loss) | $60 | $256 | $293 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | July 2025 | Year-to-Date July 2025 |
Year-to-Date July 2024 |
|---|---|---|---|
| Canceled Technical Assistance Grants | 24 | 107 | 321 |
| Changes in Assets and Liabilities | July 2025 | Year-to-Date July 2025 |
Year-to-Date July 2024 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | (3) | (6) | (2) |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (133) | (1,619) | (862) |
| Net Cash Provided by/(Used in) Operating Activities | (52) | (1,262) | (250) |
| CASH FLOWS FROM INVESTING ACTIVITIES | July 2025 | Year-to-Date July 2025 |
Year-to-Date July 2024 |
|---|---|---|---|
| Loan Principal Repayments | 250 | 750 | 250 |
| Loan Disbursements | - | (750) | (750) |
| Net Cash Provided by/(Used in) Investing Activities | 250 | - | (500) |
| CASH FLOWS FROM FINANCING ACTIVITIES | July 2025 | Year-to-Date July 2025 |
Year-to-Date July 2024 |
|---|---|---|---|
| Appropriations Received 2025/2026 | - | 3,465 | - |
| Appropriations Received 2024/2025 | - | - | 3,465 |
| Net Cash Provided by/(Used in) Financing Activities | - | 3,465 | 3,465 |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | 198 | 2,203 | 2,715 |
| CASH AND CASH EQUIVALENTS — Beginning of period | 21,225 | 19,220 | 17,274 |
| CASH AND CASH EQUIVALENTS — End of period | $21,423 | $21,423 | $19,989 |
The balances in the statement above are preliminary and unaudited.