January 2024 Revolving Loan Fund

MANAGEMENT OVERVIEW

January 31, 2024

Balance Sheets

Cash and cash equivalents had a month-end balance of $17.3 million. The balance increased by $25.4 thousand from prior month, primarily due to:

• received $54.7 thousand in investment interest
• disbursed $30.0 thousand in technical assistance grants

Loans Receivable, Net remains unchanged, and accrued technical assistance decreased by $22.5 thousand.

Statements of Operations

The fund earned $55.1 thousand in interest revenue and incurred $7.5 thousand in expenses for the month.

BALANCE SHEETS

As of January 31, 2024 and 2023 (Dollars in thousands)

ASSETS	January 2024	January 2023
Cash and Cash Equivalents	$17,300	$13,971
Loans Receivable, Net	3,250	4,250
Interest Receivable	11	5
TOTAL ASSETS	20,561	18,226

LIABILITIES AND FUND BALANCE	January 2024	January 2023
Accrued Technical Assistance Grants	$4,270	$2,437
Total Liabilities	4,270	2,437

Fund Balance	January 2024	January 2023
Fund Capital	$14,354	$14,429
Accumulated Earnings	1,937	1,360
Total Fund Balance	16,291	15,789
TOTAL LIABILITIES AND FUND BALANCE	$20,561	$18,226

 STATEMENTS OF OPERATIONS

For the Periods Ended January 31, 2024 and 2023 (Dollars in thousands)

REVENUES	January 2024	Year-to-Date January 2024	Year-to-Date January 2023
Interest on Cash Equivalents	$51	$51	$36
Interest on Loans	4	4	2
Total Revenues	55	55	38

EXPENSES	January 2024	Year-to-Date January 2024	Year-to-Date January 2023
Technical Assistance Grants	7	7	-
TOTAL EXPENSES	7	7	-
NET INCOME / (LOSS)	$48	$48	$38

STATEMENTS OF CHANGES IN FUND BALANCE

For the Periods Ended January 31, 2024 and December 31, 2023 (Dollars in thousands)

Fund Capital	For Loans	For Technical Assistance	Total Fund Capital	Accumulated Earnings	Total Fund Balance
December 31, 2022	$13,388	$1,041	$14,429	$1,322	$15,751
Appropriations Received	-	3,500	3,500	-	3,500
Appropriations Used	-	(3,546)	(3,546)	-	(3,546)
Canceled Appropriations - Returned to Treasury	-	(471)	(471)	-	(471)
Canceled Technical Assistance Grants	-	442	442	-	442
Net Income / (Loss)	-	-	-	567	567
December 31, 2023	$13,388	$966	$14,354	$1,889	$16,243
Net Income / (Loss)	-	-	-	48	48
January 31, 2024	$13,388	$966	$14,354	$1,937	$16,291

STATEMENTS OF CASH FLOWS

For the Periods Ended January 31, 2024 and 2023 (Dollars in thousands)

CASH FLOWS FROM OPERATING ACTIVITIES	January 2024	Year-to-Date January 2024	Year-to-Date January 2023
Net Income/(Loss)	$48	$48	$48

Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities 

Changes in Assets and Liabilities	January 2024	Year-to-Date January 2024	Year-to-Date January 2023
(Increase)/Decrease in Interest Receivable	1	1	-
Increase/(Decrease) in Accrued Technical Assistance Grants	(23)	(23)	(47)
Net Cash Provided by/(Used in) Operating Activities	26	26	(9)

CASH FLOWS FROM INVESTING ACTIVITIES	January 2024	Year-to-Date January 2024	Year-to-Date January 2023
Loan Principal Repayments	-	-	500
Loan Disbursements	-	-	(250)
Net Cash Provided by/(Used in) Investing Activities	-	-	250

CASH FLOWS FROM FINANCING ACTIVITIES	January 2024	Year-to-Date January 2024	Year-to-Date January 2023
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	26	26	241
CASH AND CASH EQUIVALENTS — Beginning of period	17,274	17,274	13,730
CASH AND CASH EQUIVALENTS — End of period	$17,300	$17,300	$13,971

 The balances in the statement above are preliminary and unaudited.