July 2026
May 2026 Revolving Loan Fund
MANAGEMENT OVERVIEW
May 31, 2026
Balance Sheets
Cash and cash equivalents had a month-end balance of $23.8 million. The balance increased by $38.2 thousand from prior month, primarily due to:
- received $34.5 thousand in investment interest
- received $3.7 thousand in loan interest
Loans Receivable, Net remains unchanged, and accrued technical assistance remains unchanged.
Statements of Operations
The fund earned $41.6 thousand in interest revenue.
BALANCE SHEETS
As of As of May 31, 2026 and 2025 (Dollars in thousands)
| ASSETS | May 2026 | May 2025 |
|---|---|---|
| Cash and Cash Equivalents | $23,783 | $20,797 |
| Loans Receivable, Net | 3,750 | 4,633 |
| Interest Receivable | 19 | 19 |
| TOTAL ASSETS | 27,552 | 25,449 |
| LIABILITIES AND FUND BALANCE | May 2026 | May 2025 |
|---|---|---|
| Accrued Technical Assistance Grants | 3,413 | 4,637 |
| Total Liabilities | 3,413 | 4,637 |
| Fund Balance | May 2026 | May 2025 |
|---|---|---|
| Fund Capital | 21,122 | 18,281 |
| Accumulated Earnings | 3,017 | 2,531 |
| Total Fund Balance | 24,139 | 20,812 |
| TOTAL LIABILITIES AND FUND BALANCE | $27,552 | $25,449 |
STATEMENTS OF OPERATIONS
For the Periods Ended May 31, 2026 and 2025 (Dollars in thousands)
| REVENUES | May 2026 | Year-to-Date May 2026 | Year-to-Date May 2025 |
|---|---|---|---|
| Interest on Cash Equivalents | $37 | $178 | $192 |
| Interest on Loans | 5 | 24 | 27 |
| Canceled Technical Assistance Grants | - | (101) | (84) |
| Total Revenues | 42 | 101 | 135 |
| EXPENSES | May 2026 | Year-to-Date May 2026 | Year-to-Date May 2025 |
|---|---|---|---|
| Technical Assistance Grants | - | 45 | 67 |
| Canceled Technical Assistance Grants | - | (109) | (85) |
| TOTAL EXPENSES | - | (64) | (18) |
| NET INCOME / (LOSS) | $42 | $165 | $153 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended May 31, 2026 and December 31, 2025 (Dollars in thousands)
| Fund Capital | For Loans | For Technical Assistance | Total Fund Capital | Accumulated Earnings | Total Fund Balance |
|---|---|---|---|---|---|
| December 31, 2024 | $13,388 | $1,344 | $14,732 | $2,378 | $17,110 |
| Appropriations Received | - | 3,465 | 3,465 | - | 3,465 |
| Appropriations Used | - | (445) | (445) | - | (445) |
| Canceled Appropriations - Returned to Treasury | - | (309) | (309) | - | (309) |
| Canceled Technical Assistance Grants | - | 113 | 113 | - | 113 |
| Net Income / (Loss) | - | - | - | 474 | 474 |
| December 31, 2025 | $13,388 | $4,168 | $17,556 | $2,852 | $20,408 |
| Appropriations Received | - | 3,465 | 3,465 | - | 3,465 |
| Appropriations Used | - | - | - | - | - |
| Canceled Appropriations - Returned to Treasury | - | - | - | - | - |
| Canceled Technical Assistance Grants | - | 101 | 101 | - | 101 |
| Net Income / (Loss) | - | - | - | 165 | 165 |
| May 31, 2026 | $13,388 | $7,734 | $21,122 | $3,017 | $24,139 |
STATEMENTS OF CASH FLOWS
For the Periods Ended May 31, 2026 and 2025 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | May 2026 | Year-to-Date May 2026 | Year-to-Date May 2025 |
|---|---|---|---|
| Net Income/(Loss) | $42 | $165 | $153 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | May 2026 | Year-to-Date May 2026 | Year-to-Date May 2025 |
|---|---|---|---|
| Canceled Technical Assistance Grants | - | 101 | 84 |
| Changes in Assets and Liabilities | May 2026 | Year-to-Date May 2026 | Year-to-Date May 2025 |
|---|---|---|---|
| (Increase)/Decrease in Interest Receivable | (4) | (9) | (11) |
| Increase/(Decrease) in Accrued Technical Assistance Grants | - | (610) | (1,364) |
| Net Cash Provided by/(Used in) Operating Activities | 38 | (353) | (1,138) |
| CASH FLOWS FROM INVESTING ACTIVITIES | May 2026 | Year-to-Date May 2026 | Year-to-Date May 2025 |
|---|---|---|---|
| Loan Principal Repayments | - | 133 | - |
| Loan Disbursements | - | - | (750) |
| Net Cash Provided by/(Used in) Investing Activities | - | 133 | (750) |
| CASH FLOWS FROM FINANCING ACTIVITIES | May 2026 | Year-to-Date May 2026 | Year-to-Date May 2025 |
|---|---|---|---|
| Appropriations Received 2026/2027 | - | 3,465 | - |
| Appropriations Received 2025/2026 | - | - | 3,465 |
| Net Cash Provided by/(Used in) Financing Activities | - | 3,465 | 3,465 |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | 38 | 3,245 | 1,577 |
| CASH AND CASH EQUIVALENTS — Beginning of period | 23,745 | 20,538 | 19,220 |
| CASH AND CASH EQUIVALENTS — End of period | $23,783 | $23,783 | $20,797 |
The balances in the statement above are preliminary and unaudited.