September 2024 Revolving Loan Fund
MANAGEMENT OVERVIEW
September 30, 2024
Balance Sheets
Cash and cash equivalents had a month-end balance of $20.1 million. The balance decreased by $87.8 thousand from prior month, primarily due to:
- received $503.8 thousand in loan principal and interest payments
- received $47.6 thousand in investment interest
- disbursed $92.3 thousand in accrued technical assistance grants
- disbursed $250.0 thousand in new loans
- disbursed $296.7 thousand in canceled appropriations returned to Treasury
Loans Receivable, Net decreased by $250.0 thousand, and accrued technical assistance decreased by $49.3 thousand.
Statements of Operations
The fund earned $50.3 thousand in interest revenue and incurred $43.0 thousand in expenses for the month.
BALANCE SHEETS
As of September 30, 2024 and 2023 (Dollars in thousands)
| ASSETS | September 2024 | September 2023 |
|---|---|---|
ASSETS Cash and Cash Equivalents |
September 2024 $20,148 |
September 2023 $18,128 |
ASSETS Loans Receivable, Net |
September 2024 3,250 |
September 2023 2,750 |
ASSETS Interest Receivable |
September 2024 13 |
September 2023 9 |
ASSETS TOTAL ASSETS |
September 2024 23,411 |
September 2023 20,887 |
| LIABILITIES AND FUND BALANCE | September 2024 | September 2023 |
|---|---|---|
LIABILITIES AND FUND BALANCE Accrued Technical Assistance Grants |
September 2024 $6,391 |
September 2023 $4,406 |
LIABILITIES AND FUND BALANCE Accounts Payable |
September 2024 - |
September 2023 3 |
LIABILITIES AND FUND BALANCE Total Liabilities |
September 2024 6,391 |
September 2023 4,409 |
| Fund Balance | September 2024 | September 2023 |
|---|---|---|
Fund Balance Fund Capital |
September 2024 $14,732 |
September 2023 $14,754 |
Fund Balance Accumulated Earnings |
September 2024 2,288 |
September 2023 1,724 |
Fund Balance Total Fund Balance |
September 2024 17,020 |
September 2023 16,478 |
Fund Balance TOTAL LIABILITIES AND FUND BALANCE |
September 2024 $23,411 |
September 2023 $20,887 |
STATEMENTS OF OPERATIONS
For the Periods Ended September 30, 2024 and 2023 (Dollars in thousands)
| REVENUES | September 2024 | Year-to-Date September 2024 |
Year-to-Date September 2023 |
|---|---|---|---|
REVENUES Interest on Cash Equivalents |
September 2024 $46 |
Year-to-Date
September 2024 $443 |
Year-to-Date
September 2023 $382 |
REVENUES Interest on Loans |
September 2024 4 |
Year-to-Date
September 2024 37 |
Year-to-Date
September 2023 22 |
REVENUES Appropriations Used |
September 2024 43 |
Year-to-Date
September 2024 3,111 |
Year-to-Date
September 2023 3,146 |
REVENUES Canceled Technical Assistance Grants |
September 2024 - |
Year-to-Date
September 2024 (321) |
Year-to-Date
September 2023 (442) |
REVENUES Total Revenues |
September 2024 93 |
Year-to-Date
September 2024 3,270 |
Year-to-Date
September 2023 3,108 |
| EXPENSES | September 2024 | Year-to-Date September 2024 |
Year-to-Date September 2023 |
|---|---|---|---|
EXPENSES Technical Assistance Grants |
September 2024 43 |
Year-to-Date
September 2024 3,192 |
Year-to-Date
September 2023 3,169 |
EXPENSES Canceled Technical Assistance Grants |
September 2024 - |
Year-to-Date
September 2024 (321) |
Year-to-Date
September 2023 (463) |
EXPENSES TOTAL EXPENSES |
September 2024 43 |
Year-to-Date
September 2024 2,871 |
Year-to-Date
September 2023 2,706 |
EXPENSES NET INCOME / (LOSS) |
September 2024 $50 |
Year-to-Date
September 2024 $399 |
Year-to-Date
September 2023 $402 |
STATEMENTS OF CHANGES IN FUND BALANCE
For the Periods Ended September 30, 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 399 |
Total Fund Balance 399 |
Fund Capital September 30, 2024 |
For Loans $13,388 |
For Technical Assistance $1,344 |
Total Fund Capital $14,732 |
Accumulated Earnings $2,288 |
Total Fund Balance $17,020 |
STATEMENTS OF CASH FLOWS
For the Periods Ended September 30, 2024 and 2023 (Dollars in thousands)
| CASH FLOWS FROM OPERATING ACTIVITIES | September 2024 | Year-to-Date September 2024 |
Year-to-Date September 2023 |
|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES Net Income/(Loss) |
September 2024 $50 |
Year-to-Date
September 2024 $399 |
Year-to-Date
September 2023 $402 |
| Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities | September 2024 | Year-to-Date September 2024 |
Year-to-Date September 2023 |
|---|---|---|---|
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Appropriations Used |
September 2024 (43) |
Year-to-Date
September 2024 (3,111) |
Year-to-Date
September 2023 (3,146) |
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities Canceled Technical Assistance Grants |
September 2024 - |
Year-to-Date
September 2024 $321 |
Year-to-Date
September 2023 $442 |
| Changes in Assets and Liabilities | September 2024 | Year-to-Date September 2024 |
Year-to-Date September 2023 |
|---|---|---|---|
Changes in Assets and Liabilities (Increase)/Decrease in Interest Receivable |
September 2024 1 |
Year-to-Date
September 2024 (1) |
Year-to-Date
September 2023 (4) |
Changes in Assets and Liabilities Increase/(Decrease) in Accounts Payable |
September 2024 - |
Year-to-Date
September 2024 - |
Year-to-Date
September 2023 3 |
Changes in Assets and Liabilities Increase/(Decrease) in Accrued Technical Assistance Grants |
September 2024 (48) |
Year-to-Date
September 2024 2,098 |
Year-to-Date
September 2023 1,922 |
Changes in Assets and Liabilities Net Cash Provided by/(Used in) Operating Activities |
September 2024 (40) |
Year-to-Date
September 2024 (294) |
Year-to-Date
September 2023 (381) |
| CASH FLOWS FROM INVESTING ACTIVITIES | September 2024 | Year-to-Date September 2024 |
Year-to-Date September 2023 |
|---|---|---|---|
CASH FLOWS FROM INVESTING ACTIVITIES Loan Principal Repayments |
September 2024 500 |
Year-to-Date
September 2024 1,000 |
Year-to-Date
September 2023 3,500 |
CASH FLOWS FROM INVESTING ACTIVITIES Loan Disbursements |
September 2024 (250) |
Year-to-Date
September 2024 (1,000) |
Year-to-Date
September 2023 (1,750) |
CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by/(Used in) Investing Activities |
September 2024 250 |
Year-to-Date
September 2024 - |
Year-to-Date
September 2023 1,750 |
| CASH FLOWS FROM FINANCING ACTIVITIES | September 2024 | Year-to-Date September 2024 |
Year-to-Date September 2023 |
|---|---|---|---|
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2024/2025 |
September 2024 - |
Year-to-Date
September 2024 3,465 |
Year-to-Date
September 2023 - |
CASH FLOWS FROM FINANCING ACTIVITIES Appropriations Received 2023/2024 |
September 2024 - |
Year-to-Date
September 2024 - |
Year-to-Date
September 2023 3,500 |
CASH FLOWS FROM FINANCING ACTIVITIES Canceled Appropriations Returned to Treasury - 2018/2019 |
September 2024 (297) |
Year-to-Date
September 2024 (297) |
Year-to-Date
September 2023 - |
CASH FLOWS FROM FINANCING ACTIVITIES Canceled Appropriations Returned to Treasury - 2017/2018 |
September 2024 - |
Year-to-Date
September 2024 - |
Year-to-Date
September 2023 (471) |
CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by/(Used in) Financing Activities |
September 2024 (297) |
Year-to-Date
September 2024 3,168 |
Year-to-Date
September 2023 3,029 |
CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
September 2024 (87) |
Year-to-Date
September 2024 2,874 |
Year-to-Date
September 2023 4,398 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — Beginning of period |
September 2024 20,235 |
Year-to-Date
September 2024 17,274 |
Year-to-Date
September 2023 13,730 |
CASH FLOWS FROM FINANCING ACTIVITIES CASH AND CASH EQUIVALENTS — End of period |
September 2024 $20,148 |
Year-to-Date
September 2024 $20,148 |
Year-to-Date
September 2023 $18,128 |
The balances in the statement above are preliminary and unaudited.