May 2025 Revolving Loan Fund
MANAGEMENT OVERVIEW
May 31, 2025
Balance Sheets
Cash and cash equivalents had a month-end balance of $20.8 million. The balance decreased by $107.4 thousand from prior month, primarily due to:
- received $37.2 thousand in investment interest
- received $7.4 thousand from interest collected on loans
- disbursed $152.0 thousand in accrued technical assistance grants
Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $152.2 thousand.
Statements of Operations
The fund earned $44.4 thousand in interest revenue.
BALANCE SHEETS
As of May 31, 2025 and 2024 (Dollars in thousands)
| ASSETS | May 2025 | May 2024 |
|---|---|---|
| Cash and Cash Equivalents | $20,797 | $19,728 |
| Loans Receivable, Net | 4,633 | 4,000 |
| Interest Receivable | 19 | 13 |
| TOTAL ASSETS | 25,449 | 23,741 |
| LIABILITIES AND FUND BALANCE | May 2025 | May 2024 |
|---|---|---|
| Accrued Technical Assistance Grants | $4,637 | $3,659 |
| Total Liabilities | 4,637 | 3,659 |
| Fund Balance | May 2025 | May 2024 |
|---|---|---|
| Fund Capital | $18,281 | $18,005 |
| Accumulated Earnings | 2,531 | 2,077 |
| Total Fund Balance | 20,812 | 20,082 |
| TOTAL LIABILITIES AND FUND BALANCE | $25,449 | $23,741 |
STATEMENTS OF OPERATIONS
For the Periods Ended May 31, 2025 and 2024 (Dollars in thousands)
| REVENUES | May 2025 | Year-to-Date May 2025 |
Year-to-Date May 2024 |
|---|---|---|---|
| Interest on Cash Equivalents | $38 | $192 | $250 |
| Interest on Loans | 6 | 27 | 19 |
| Canceled Technical Assistance Grants | - | (84) | (186) |
| Total Revenues | 44 | 135 | 83 |
| EXPENSES | May 2025 | Year-to-Date May 2025 |
Year-to-Date May 2024 |
|---|---|---|---|
| Technical Assistance Grants | - | 67 | 81 |
| Canceled Technical Assistance Grants | - | (85) | (186) |
| TOTAL EXPENSES | - | (18) | (105) |
| NET INCOME / (LOSS) | $44 | $153 | $188 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended May 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 | - | 84 | 84 | - | 84 |
| Net Income / (Loss) | - | - | - | 153 | 153 |
| April 30, 2025 | $13,388 | $4,893 | $18,281 | $2,531 | $20,812 |
STATEMENTS OF CASH FLOWS
For the Periods Ended May 31, 2025 and 2024 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | May 2025 | Year-to-Date May 2025 |
Year-to-Date May 2024 |
|---|---|---|---|
| Net Income/(Loss) | $44 | $153 | $188 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | May 2025 | Year-to-Date May 2025 |
Year-to-Date May 2024 |
|---|---|---|---|
| Canceled Technical Assistance Grants | - | 84 | 186 |
| Changes in Assets and Liabilities | May 2025 | Year-to-Date May 2025 |
Year-to-Date May 2024 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | - | (11) | (1) |
| Increase/(Decrease) in Accrued Technical Assistance Grants | (151) | (1,364) | (634) |
| Net Cash Provided by/(Used in) Operating Activities | (107) | (1,138) | (261) |
| CASH FLOWS FROM INVESTING ACTIVITIES | May 2025 | Year-to-Date May 2025 |
Year-to-Date May 2024 |
|---|---|---|---|
| Loan Disbursements | - | (750) | (750) |
| Net Cash Provided by/(Used in) Investing Activities | - | (750) | (750) |
| CASH FLOWS FROM FINANCING ACTIVITIES | May 2025 | Year-to-Date May 2025 |
Year-to-Date May 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 | (107) | 1,577 | 2,454 |
| CASH AND CASH EQUIVALENTS — Beginning of period | 20,904 | 19,220 | 17,274 |
| CASH AND CASH EQUIVALENTS — End of period | $20,797 | $20,797 | $19,728 |
The balances in the statement above are preliminary and unaudited.