June 2025 Revolving Loan Fund
MANAGEMENT OVERVIEW
June 30, 2025
Balance Sheets
Cash and cash equivalents had a month-end balance of $21.2 million. The balance increased by $428.7 thousand from prior month, primarily due to:
- received $512.0 thousand in loan principal and interest payments
- received $37.5 thousand in investment interest
- disbursed $120.8 thousand in accrued technical assistance grants
Loans Receivable, Net decreased by $500.0 thousand, and accrued technical assistance decreased by $120.8 thousand.
Statements of Operations
The fund earned $41.9 thousand in interest revenue.
BALANCE SHEETS
As of June 30, 2025 and 2024 (Dollars in thousands)
| ASSETS | June 2025 | June 2024 |
|---|---|---|
| Cash and Cash Equivalents | $21,225 | $19,715 |
| Loans Receivable, Net | 4,133 | 4,000 |
| Interest Receivable | 11 | 17 |
| TOTAL ASSETS | 25,369 | 23,732 |
| LIABILITIES AND FUND BALANCE | June 2025 | June 2024 |
|---|---|---|
| Accrued Technical Assistance Grants | $4,516 | $3,598 |
| Total Liabilities | 4,516 | 3,598 |
| Fund Balance | June 2025 | June 2024 |
|---|---|---|
| Fund Capital | $18,281 | $18,005 |
| Accumulated Earnings | 2,572 | 2,129 |
| Total Fund Balance | 20,853 | 20,134 |
| TOTAL LIABILITIES AND FUND BALANCE | $25,369 | $23,732 |
STATEMENTS OF OPERATIONS
For the Periods Ended June 30, 2025 and 2024 (Dollars in thousands)
| REVENUES | June 2025 | Year-to-Date June 2025 |
Year-to-Date June 2024 |
|---|---|---|---|
| Interest on Cash Equivalents | $36 | $228 | $297 |
| Interest on Loans | 6 | 32 | 24 |
| Canceled Technical Assistance Grants | - | (84) | (186) |
| Total Revenues | 42 | 176 | 135 |
| EXPENSES | June 2025 | Year-to-Date June 2025 |
Year-to-Date June 2024 |
|---|---|---|---|
| Technical Assistance Grants | - | 67 | 81 |
| Canceled Technical Assistance Grants | - | (85) | (186) |
| TOTAL EXPENSES | - | (18) | (105) |
| NET INCOME / (LOSS) | $42 | $194 | $240 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended June 30, 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 | - | 84 | 84 | - | 84 |
| Net Income / (Loss) | - | - | - | 194 | 194 |
| June 30, 2025 | $13,388 | $4,893 | $18,281 | $2,572 | $20,853 |
STATEMENTS OF CASH FLOWS
For the Periods Ended June 30, 2025 and 2024 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | June 2025 | Year-to-Date June 2025 |
Year-to-Date June 2024 |
|---|---|---|---|
| Net Income/(Loss) | $42 | $194 | $240 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | June 2025 | Year-to-Date June 2025 |
Year-to-Date June 2024 |
|---|---|---|---|
| Canceled Technical Assistance Grants | - | 84 | 186 |
| Changes in Assets and Liabilities | June 2025 | Year-to-Date June 2025 |
Year-to-Date June 2024 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | 8 | (3) | (5) |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (122) | (1,485) | (695) |
| Net Cash Provided by/(Used in) Operating Activities | (72) | (1,210) | (274) |
| CASH FLOWS FROM INVESTING ACTIVITIES | June 2025 | Year-to-Date June 2025 |
Year-to-Date June 2024 |
|---|---|---|---|
| Loan Principal Repayments | 500 | 500 | - |
| Loan Disbursements | - | (750) | (750) |
| Net Cash Provided by/(Used in) Investing Activities | 500 | (250) | (750) |
| CASH FLOWS FROM FINANCING ACTIVITIES | June 2025 | Year-to-Date June 2025 |
Year-to-Date June 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 | 428 | 2,005 | 2,441 |
| CASH AND CASH EQUIVALENTS — Beginning of period | 20,797 | 19,220 | 17,274 |
| CASH AND CASH EQUIVALENTS — End of period | $21,225 | $21,225 | $19,715 |
The balances in the statement above are preliminary and unaudited.