Ka Wai Ola - Office of Hawaiian Affairs, Volume 20, Number 9, 1 September 2003 — Page 17 Advertisements Column 1 [ADVERTISEMENT]

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COMBINED BALANCE SHEET AS OF JUNE 30, 2003 (FY-2003) ASSETS FUNDS ACCOUNT GROUPS Petty cash $ 10,000.00 Cash in state treasury 19,647,813.70 Cash held outside of state treasuiy 11,470,777.63 Interfund assets 0.00 Accounts receivable 86,410.24 Interest and dividends receivable 585,043.35 Notes receivable 17,744,264.62 Allowanee for doubtful accounts (5,410,481.63) Prepaid expenses 284,130.09 Security deposit 47,187.07 NHTF investments (market value) 274,489,830.70 NHTF premium (discount) canying 2,790,271.28 NHRLF investments (market value) 22,360,686.26 NHRLF premium (discount) canying 154,512.96 Accrued interest paid - bond pm'chase 140,996.08 Land $84,100.00 Building 1,041,303.96 Leasehold improvements 375,337.02 Fumitm'e, software & equipment 2,146,855.12 Aitwork 10,000.00 Prov for LT debt - oper lease rent 438,589.99 Prov for accrued vacation and eomp time 584,729.84 Prov for est claims and judgements 603,978.00 TOTAL ASSETS $344,401,442.35 $ 5,284,893.93 LIABILITIES Accounts and other payables $ 975,019.12 Due to State of Hawaii 110,000.00 Operating lease rents 438 589 99 Accrued vacation and eomp time 584 729 84 Estimated claims and jdgements gQ2 qq TOTAL LIABILITIES $ 1,085,019.12 $ 1,627,297.83 Fund Balance: Investments in fixed assets $ 3,657,596.10 Reserve for encumbrances $ 4,588,308.73 Reserve for prepaid exp and sec deposit 472,313.24 Resei-ve for notes receivable 12,333,782.99 Unreserved fund halanee 325,922,018.27 Total Fund Balance $ 343,316,423.23 $ 3,657,596.10 TOTAL LIABILITIES AND FUND BALANCE $344,401,442.35 $5,284,893.93

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FORTHE PERIOD ENDING JUNE 30, 2003 REVENUES TOTAL FUNDS General fund appropriations $ 2,532,663.00 Public land trust 17,543,803.85 Dividend and interest ineome 8,444,468.50 Hawaiian rights fund 28,984.82 Federal and other grants 361,188.27 Newspaper ads 44,696.14 Donations and other 158,557.88 Nonimposed fringe benefits 157,292.27 TOTAL REVENUES $29,271,654.73 EXPENDITURES Current Programs: Board of Trustees $ 1,416,484.28 Support Services 6,794,077.41 Beneficiary Advocacy 4,980,405.64 TOTAL EXPENDITURES $ 13,190,967.33 EXCESS (deficiency) of revenues over expenditures $ 16,080,687.40 OTHER FINANCING SOURCES (USES) Reabzed gain (loss) on sale of investments (24,327,414.90) Unreahzed gain (loss) on investments held 35,085,353.71 Non-imposed fringe expense (157,292.27) NHLC retained portion 0.00 Bad debt expense (32,038.03) Operating transfers 0.00 Lapse of cash to state general fund (66,288.75) Investment manager fees (818,919.45) TOTAL OTHER FINANCING SOURCES (USES) 9,683,400.31 EXCESS (deficiency) of revenues and other financing sources over expenditures and other financing uses 25 764 087.71 FUND BALANCE, BEGINNING OF YEAR $317,552,335.52 FUND BALANCE, END OF YEAR $ 343,316,423.23