October 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
October 31, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $20.0 million. The balance decreased by $161.4 thousand from prior month, primarily due to:
- received $47.4 thousand in investment interest
- disbursed $77.7 thousand in accrued technical assistance grants
- disbursed $133.0 thousand in new loans
Loans Receivable, Net increased by $133.0 thousand, and accrued technical assistance decreased by $70.2 thousand.
Statements of Operations
The fund earned $51.6 thousand in interest revenue and incurred $7.5 thousand in expenses for the month.
BALANCE SHEETS
As of October 31, 2024 and 2023 (Dollars in thousands)
| ASSETS | October 2024 | October 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
October 2024 $19,986 |
October 2023 $18,166 |
ASSETS Loans Receivable, Net |
October 2024 3,383 |
October 2023 2,750 |
ASSETS Interest Receivable |
October 2024 15 |
October 2023 9 |
ASSETS TOTAL ASSETS |
October 2024 23,384 |
October 2023 20,925 |
| LIABILITIES AND FUND BALANCE | October 2024 | October 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
October 2024 $6,319 |
October 2023 $4,791 |
LIABILITIES AND FUND BALANCE Total Liabilities |
October 2024 6,319 |
October 2023 4,791 |
| Fund Balance | October 2024 | October 2023 |
|---|---|---|
Fund Balance Fund Capital |
October 2024 $14,732 |
October 2023 $14,354 |
Fund Balance Accumulated Earnings |
October 2024 2,333 |
October 2023 1,780 |
Fund Balance Total Fund Balance |
October 2024 17,065 |
October 2023 16,134 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
October 2024 $23,384 |
October 2023 $20,925 |
STATEMENTS OF OPERATIONS
For the Periods Ended October 31, 2024 and 2023 (Dollars in thousands)
| REVENUES | October 2024 | Year-to-Date October 2024 |
Year-to-Date October 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
October 2024 $47 |
Year-to-Date
October 2024 $491 |
Year-to-Date
October 2023 $435 |
REVENUES Interest on Loans |
October 2024 4 |
Year-to-Date
October 2024 42 |
Year-to-Date
October 2023 25 |
REVENUES Appropriations Used |
October 2024 - |
Year-to-Date
October 2024 3,111 |
Year-to-Date
October 2023 3,546 |
REVENUES Canceled Technical Assistance Grants |
October 2024 - |
Year-to-Date
October 2024 (321) |
Year-to-Date
October 2023 (442) |
REVENUES Total Revenues |
October 2024 51 |
Year-to-Date
October 2024 3,323 |
Year-to-Date
October 2023 3,564 |
| EXPENSES | October 2024 | Year-to-Date October 2024 |
Year-to-Date October 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
October 2024 8 |
Year-to-Date
October 2024 3,200 |
Year-to-Date
October 2023 3,569 |
EXPENSES Canceled Technical Assistance Grants |
October 2024 - |
Year-to-Date
October 2024 (321) |
Year-to-Date
October 2023 (463) |
EXPENSES TOTAL EXPENSES |
October 2024 8 |
Year-to-Date
October 2024 2,879 |
Year-to-Date
October 2023 3,106 |
EXPENSES NET INCOME / (LOSS) |
October 2024 $43 |
Year-to-Date
October 2024 $444 |
Year-to-Date
October 2023 $458 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended October 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 3,465 |
Total Fund Capital 3,465 |
Accumulated Earnings - |
Total Fund Balance 3,465 |
Fund Capital Appropriations Used |
For Loans - |
For Technical Assistance (3,111) |
Total Fund Capital (3,111) |
Accumulated Earnings - |
Total Fund Balance (3,111) |
Fund Capital Canceled Appropriations - Returned to Treasury |
For Loans - |
For Technical Assistance (297) |
Total Fund Capital (297) |
Accumulated Earnings - |
Total Fund Balance (297) |
Fund Capital Canceled Technical Assistance Grants |
For Loans - |
For Technical Assistance 321 |
Total Fund Capital 321 |
Accumulated Earnings - |
Total Fund Balance 321 |
Fund Capital Net Income / (Loss) |
For Loans - |
For Technical Assistance - |
Total Fund Capital - |
Accumulated Earnings 444 |
Total Fund Balance 444 |
Fund Capital October 31, 2024 |
For Loans $13,388 |
For Technical Assistance $1,344 |
Total Fund Capital $14,732 |
Accumulated Earnings $2,333 |
Total Fund Balance $17,065 |
STATEMENTS OF CASH FLOWS
For the Periods Ended October 31, 2024 and 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | October 2024 | Year-to-Date October 2024 |
Year-to-Date October 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
October 2024 $43 |
Year-to-Date
October 2024 $444 |
Year-to-Date
October 2023 $458 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | October 2024 | Year-to-Date October 2024 |
Year-to-Date October 2023 |
|---|---|---|---|
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Appropriations Used |
October 2024 - |
Year-to-Date
October 2024 (3,111) |
Year-to-Date
October 2023 (3,546) |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Canceled Technical Assistance Grants |
October 2024 - |
Year-to-Date
October 2024 $321 |
Year-to-Date
October 2023 $442 |
| Changes in Assets and Liabilities | October 2024 | Year-to-Date October 2024 |
Year-to-Date October 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
October 2024 (2) |
Year-to-Date
October 2024 (3) |
Year-to-Date
October 2023 (3) |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
October 2024 (70) |
Year-to-Date
October 2024 2,026 |
Year-to-Date
October 2023 2,306 |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
October 2024 (29) |
Year-to-Date
October 2024 (323) |
Year-to-Date
October 2023 (343) |
| CASH FLOWS FROM INVESTING ACTIVITIES | October 2024 | Year-to-Date October 2024 |
Year-to-Date October 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
October 2024 - |
Year-to-Date
October 2024 1,000 |
Year-to-Date
October 2023 3,500 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
October 2024 (133) |
Year-to-Date
October 2024 (1,133) |
Year-to-Date
October 2023 (1,750) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
October 2024 (133) |
Year-to-Date
October 2024 (133) |
Year-to-Date
October 2023 1,750 |
| CASH FLOWS FROM FINANCING ACTIVITIES | October 2024 | Year-to-Date October 2024 |
Year-to-Date October 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2024/2025 |
October 2024 - |
Year-to-Date
October 2024 3,465 |
Year-to-Date
October 2023 - |
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
October 2024 - |
Year-to-Date
October 2024 - |
Year-to-Date
October 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Canceled Appropriations Returned to Treasury - 2018/2019 |
October 2024 - |
Year-to-Date
October 2024 (297) |
Year-to-Date
October 2023 - |
CASH FLOWS FROM FINANCING ACTIVITIES Canceled Appropriations Returned to Treasury - 2017/2018 |
October 2024 - |
Year-to-Date
October 2024 - |
Year-to-Date
October 2023 (471) |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
October 2024 - |
Year-to-Date
October 2024 3,168 |
Year-to-Date
October 2023 3,029 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
October 2024 (162) |
Year-to-Date
October 2024 2,712 |
Year-to-Date
October 2023 4,436 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
October 2024 20,148 |
Year-to-Date
October 2024 17,274 |
Year-to-Date
October 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
October 2024 $19,986 |
Year-to-Date
October 2024 $19,986 |
Year-to-Date
October 2023 $18,166 |
The balances in the statement above are preliminary and unaudited.