Ka Wai Ola - Office of Hawaiian Affairs, Volume 19, Number 5, 1 May 2002 — OHA FINANCIAL REPORT [ARTICLE]

OHA FINANCIAL REPORT

COMBINED BALANCE SHEET AS OF FEBRUARY 28, 2002

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE EIGHT MONTHS ENDED FEBRUARY 28, 2002

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ASSETS FUNDS ACCOUNT GROUPS Cash in State Treasury $ 8,314,431 Cash in outside accounts 7,532,287 Accounts/other receivables 27,955,833 Notes receivable, net of allowance for doubtful accounts of $4,438,974 15,425,034 Interest/dividends receivable 1,955,541 Interfund receivable 3 ,43 1 ,622 Prepaid expenses and security deposits 343,540 Investments at FMV: Native Hawaiian Trust Fund 261,881,193 Native Hawaiian Revolving Loan Fund 16,899,100 Land/building $1,125,404 Leasehold improvements 538,405 Machinery, equipment, furniture, fixtures 1,512,793 Provided for payment of: Vacation benefits/comp time off 536,018 Estimated claims and judgments 460,026 Operating lease rents/capital lease 26,772 TOTAL ASSETS $343,738,581 $4,199,418 LIABILITIES AND FUND EQUITY LIABILITIES: Due to state $ 110,000 Accounts/other payables 313 ,255 Inter-fund payable 3 ,43 1 ,622 Vacation benefits/comp. time off $536,018 Operating lease rents -0Estimated claims and judgments 460,026 Capital lease obliaation 26,772 TOTAL LIABILITIES $ 3,854,877 $1,022,816 FUND EQUITY: Investments in fixed assets $3,176,602 Fund balance Reserved $ 20,684,639 Designated 54,305,844 Undesianated 264.893.221 TOTAL FUND EQUITY $339,883,704 $3,176,602 TOTAL LIABILITIES AND FUND EQUITY $343,738,581 $4,199,418

REVENUES State general fund appropriations $ 2,619,663 Public land trust 6,535 Dividend and interest income 7,805,644 Native Hawaiian Rights Fund 4,533 Federal and other grants 1,070,614 Newspaper ads, donations, other revenues 56,269 Non-imposed fringe benefits 68,089 Hawaiian Projects Fund -0TOTAL REVENUES $ 11,631,347 EXPENDITURES Current programs: Board of Trustees $ 2,159,144 Administration 3,139,890 Program Systems 2,602,535 Hawaiian Rights 1,411,935 TOTAL EXPENDITURES $ 9,313^04 $ 2 317 843 EXCESS (deficiency) of revenues over expenditures ' ' OTHER FINANCING SOURCES (USES) Realized gain on sale of investments $ (9,922,776) Net increase (decrease) in unrealized gain (loss) on investments held (11,397,821) Lapse of cash to State General Fund (81,329) TOTAL OTHER FINANCING SOURCES (USES) $ (21,401,926) EXCESS (deficiency) of revenues and other financing sources over expenditures and other financing uses $ (19,084,083) FUND BALANCE, BEGINNING OF PERIOD $ 358,967,787 Fl IND RAI ANCF. FND OF PFRIOD $ 339,883,704