June 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
June 30, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $19.7 million. The balance decreased by $13.2 thousand from prior month.
- received $3.7 thousand in loan principal and interest payments
- received $43.9 thousand in investment interest
- disbursed $60.8 thousand in accrued technical assistance grants
Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $60.8 thousand.
Statements of Operations
The fund earned $51.6 thousand in interest revenue.
BALANCE SHEETS
As of June 30, 2024 and 2023 (Dollars in thousands)
| ASSETS | June 2024 | June 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
June 2024 $19,715 |
June 2023 $18,299 |
ASSETS Loans Receivable, Net |
June 2024 4,000 |
June 2023 3,250 |
ASSETS Interest Receivable |
June 2024 17 |
June 2023 5 |
ASSETS TOTAL ASSETS |
June 2024 23,732 |
June 2023 21,554 |
| LIABILITIES AND FUND BALANCE | June 2024 | June 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
June 2024 $3,598 |
June 2023 $1,653 |
LIABILITIES AND FUND BALANCE Total Liabilities |
June 2024 3,598 |
June 2023 1,653 |
| Fund Balance | June 2024 | June 2023 |
|---|---|---|
Fund Balance Fund Capital |
June 2024 $18,005 |
June 2023 $18,319 |
Fund Balance Accumulated Earnings |
June 2024 2,129 |
June 2023 1,582 |
Fund Balance Total Fund Balance |
June 2024 20,134 |
June 2023 19,901 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
June 2024 $23,732 |
June 2023 $21,554 |
STATEMENTS OF OPERATIONS
For the Periods Ended June 30, 2024 and 2023 (Dollars in thousands)
| REVENUES | June 2024 | Year-to-Date June 2024 |
Year-to-Date June 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
June 2024 $47 |
Year-to-Date
June 2024 $297 |
Year-to-Date
June 2023 $235 |
REVENUES Interest on Loans |
June 2024 5 |
Year-to-Date
June 2024 24 |
Year-to-Date
June 2023 12 |
REVENUES Canceled Technical Assistance Grants |
June 2024 - |
Year-to-Date
June 2024 (186) |
Year-to-Date
June 2023 (390) |
REVENUES Total Revenues |
June 2024 52 |
Year-to-Date
June 2024 135 |
Year-to-Date
June 2023 (143) |
| EXPENSES | June 2024 | Year-to-Date June 2024 |
Year-to-Date June 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
June 2024 - |
Year-to-Date
June 2024 81 |
Year-to-Date
June 2023 8 |
EXPENSES Canceled Technical Assistance Grants |
June 2024 - |
Year-to-Date
June 2024 (186) |
Year-to-Date
June 2023 (411) |
EXPENSES TOTAL EXPENSES |
June 2024 - |
Year-to-Date
June 2024 (105) |
Year-to-Date
June 2023 (403) |
EXPENSES NET INCOME / (LOSS) |
June 2024 $52 |
Year-to-Date
June 2024 $240 |
Year-to-Date
June 2023 $260 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended June 30, 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 186 |
Total Fund Capital 186 |
Accumulated Earnings - |
Total Fund Balance 186 |
Fund Capital Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 240 |
Total Fund Balance 240 |
Fund Capital June 30, 2024 |
For Loans $13,388 |
For Technical Assistance $4,617 |
Total Fund Capital $18,005 |
Accumulated Earnings $2,129 |
Total Fund Balance $20,134 |
STATEMENTS OF CASH FLOWS
For the Periods Ended June 30, 2024 and 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | June 2024 | Year-to-Date June 2024 |
Year-to-Date June 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
June 2024 $52 |
Year-to-Date
June 2024 $240 |
Year-to-Date
June 2023 $260 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | June 2024 | Year-to-Date June 2024 |
Year-to-Date June 2023 |
|---|---|---|---|
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Canceled Technical Assistance Grants |
June 2024 - |
Year-to-Date
June 2024 $186 |
Year-to-Date
June 2023 $390 |
| Changes in Assets and Liabilities | June 2024 | Year-to-Date June 2024 |
Year-to-Date June 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
June 2024 (4) |
Year-to-Date
June 2024 (5) |
Year-to-Date
June 2023 - |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
June 2024 (61) |
Year-to-Date
June 2024 (695) |
Year-to-Date
June 2023 (831) |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
June 2024 (13) |
Year-to-Date
June 2024 (274) |
Year-to-Date
June 2023 (181) |
| CASH FLOWS FROM INVESTING ACTIVITIES | June 2024 | Year-to-Date June 2024 |
Year-to-Date June 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
June 2024 - |
Year-to-Date
June 2024 - |
Year-to-Date
June 2023 2,250 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
June 2024 - |
Year-to-Date
June 2024 (750) |
Year-to-Date
June 2023 (1,000) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
June 2024 - |
Year-to-Date
June 2024 (750) |
Year-to-Date
June 2023 1,250 |
| CASH FLOWS FROM FINANCING ACTIVITIES | June 2024 | Year-to-Date June 2024 |
Year-to-Date June 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2024/2025 |
June 2024 - |
Year-to-Date
June 2024 3,465 |
Year-to-Date
June 2023 - |
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
June 2024 - |
Year-to-Date
June 2024 - |
Year-to-Date
June 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
June 2024 - |
Year-to-Date
June 2024 3,465 |
Year-to-Date
June 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
June 2024 (13) |
Year-to-Date
June 2024 2,441 |
Year-to-Date
June 2023 4,569 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
June 2024 19,728 |
Year-to-Date
June 2024 17,274 |
Year-to-Date
June 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
June 2024 $19,715 |
Year-to-Date
June 2024 $19,715 |
Year-to-Date
June 2023 $18,299 |
The balances in the statement above are preliminary and unaudited.