March 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
March 31, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $16.9 million. The balance decreased by $343.0 thousand from prior month, primarily due to:
- received $48.0 thousand in investment interest
- disbursed $142.9 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 $142.9 thousand.
Statements of Operations
The fund earned $55.1 thousand in interest revenue.
BALANCE SHEETS
As of March 31, 2024 and 2023 (Dollars in thousands)
| ASSETS | March 2024 | March 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
March 2024 $16,898 |
March 2023 $17,846 |
ASSETS Loans Receivable, Net |
March 2024 3,500 |
March 2023 3,750 |
ASSETS Interest Receivable |
March 2024 13 |
March 2023 4 |
ASSETS TOTAL ASSETS |
March 2024 20,411 |
March 2023 21,600 |
| LIABILITIES AND FUND BALANCE | March 2024 | March 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
March 2024 $4,057 |
March 2023 $2,245 |
LIABILITIES AND FUND BALANCE Total Liabilities |
March 2024 4,057 |
March 2023 2,245 |
| Fund Balance | March 2024 | March 2023 |
|---|---|---|
Fund Balance Fund Capital |
March 2024 $14,354 |
March 2023 $17,929 |
Fund Balance Accumulated Earnings |
March 2024 2,000 |
March 2023 1,426 |
Fund Balance Total Fund Balance |
March 2024 16,354 |
March 2023 19,355 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
March 2024 $20,411 |
March 2023 $21,600 |
STATEMENTS OF OPERATIONS
For the Periods Ended March 31, 2024 and 2023 (Dollars in thousands)
| REVENUES | March 2024 | Year-to-Date March 2024 |
Year-to-Date March 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
March 2024 $51 |
Year-to-Date
March 2024 $151 |
Year-to-Date
March 2023 $106 |
REVENUES Interest on Loans |
March 2024 4 |
Year-to-Date
March 2024 11 |
Year-to-Date
March 2023 6 |
REVENUES Total Revenues |
March 2024 55 |
Year-to-Date
March 2024 162 |
Year-to-Date
March 2023 112 |
| EXPENSES | March 2024 | Year-to-Date March 2024 |
Year-to-Date March 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
March 2024 - |
Year-to-Date
March 2024 51 |
Year-to-Date
March 2023 8 |
EXPENSES TOTAL EXPENSES |
March 2024 - |
Year-to-Date
March 2024 51 |
Year-to-Date
March 2023 8 |
EXPENSES NET INCOME / (LOSS) |
March 2024 $55 |
Year-to-Date
March 2024 $111 |
Year-to-Date
March 2023 $104 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended March 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 - |
Total Fund Capital - |
Accumulated Earnings - |
Total Fund Balance - |
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 - |
Total Fund Capital - |
Accumulated Earnings - |
Total Fund Balance - |
Fund Capital Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 111 |
Total Fund Balance 111 |
Fund Capital March 31, 2024 |
For Loans $13,388 |
For Technical Assistance $966 |
Total Fund Capital $14,354 |
Accumulated Earnings $2,000 |
Total Fund Balance $16,354 |
STATEMENTS OF CASH FLOWS
For the Periods Ended March 31, 2024 and 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | March 2024 | Year-to-Date March 2024 |
Year-to-Date March 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
March 2024 $55 |
Year-to-Date
March 2024 $111 |
Year-to-Date
March 2023 $104 |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities
| Changes in Assets and Liabilities | March 2024 | Year-to-Date March 2024 |
Year-to-Date March 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
March 2024 (5) |
Year-to-Date
March 2024 (1) |
Year-to-Date
March 2023 1 |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
March 2024 (143) |
Year-to-Date
March 2024 (236) |
Year-to-Date
March 2023 (239) |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
March 2024 (93) |
Year-to-Date
March 2024 (126) |
Year-to-Date
March 2023 (134) |
| CASH FLOWS FROM INVESTING ACTIVITIES | March 2024 | Year-to-Date March 2024 |
Year-to-Date March 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
March 2024 - |
Year-to-Date
March 2024 - |
Year-to-Date
March 2023 1000 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
March 2024 (250) |
Year-to-Date
March 2024 (250) |
Year-to-Date
March 2023 (250) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
March 2024 (250) |
Year-to-Date
March 2024 (250) |
Year-to-Date
March 2023 750 |
| CASH FLOWS FROM FINANCING ACTIVITIES | March 2024 | Year-to-Date March 2024 |
Year-to-Date March 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
March 2024 - |
Year-to-Date
March 2024 - |
Year-to-Date
March 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
March 2024 - |
Year-to-Date
March 2024 - |
Year-to-Date
March 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
March 2024 (343) |
Year-to-Date
March 2024 (376) |
Year-to-Date
March 2023 4,116 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
March 2024 17,241 |
Year-to-Date
March 2024 17,274 |
Year-to-Date
March 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
March 2024 $16,898 |
Year-to-Date
March 2024 $16,898 |
Year-to-Date
March 2023 $17,846 |
The balances in the statement above are preliminary and unaudited.