Ka Wai Ola - Office of Hawaiian Affairs, Volume 19, Number 8, 1 August 2002 — OHA FINANCIAL REPORT [ARTICLE]

OHA FINANCIAL REPORT

COMBINED BALANCE SHEET AS OF MAY 31, 2002

COMBINĒD STATEMENTOF RĒ\TNUES, EXPENDITURĒS AND CHANGES IN FUND B\LANCES FOR THE ELEAUN MONTHS ENDED MAY 31, 2002

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ASSETS FUNDS ACCOUNT GROUPS Cash in State Treasury $ 6,885,805 Cash in outside accounts 8,602,440 Accounts/other receivables 25,346 Notes receivable, net of allowance for doubtful accounts of $3,965,337 15,386,313 Interest/dividends receivable 1 ,837, 1 1 4 Interfund receivable 2, 1 46, 1 72 Prepaid expenses and security deposits 308,786 Investments at FMV: Native Hawaiian Trust Fund 284,065,793 Native Hawaiian Revolving Loan Fund 17,147,164 Land/building $1,125,404 Leasehold improvements 538,405 Machinery, equipment, furniture, fixtures 1,432,155 Provided for payment of: Vacation benefits/comp time off 536,931 Estimated claims and judgments 460,026 Operating lease rents/capital lease $1,1 17,366 TOTAL ASSETS $336,404,933 $5,210,287 LIABILITIES AND FUND EQUITY Liabilities: Due to state $ 110,000 Accounts/other payables 707,164 Inter-fund payable 2, 1 46, 1 72 Vacation benefits/comp. time off $536,931 Operating lease rents 1 , 1 1 7,366 Estimated claims and judgments 460,026 Capital lease obligation 0 TOTAL LIABILITIES $ 2,963,336 $2,114,323 Fund Equity: Investments in fixed assets $3,095,964 Fund balance Reserved $ 20,691,689 Designated 57,158,472 Undesignated 255,591,436 Total Fund Equity $333,441,597 $3,095,964 TOTAL LIABILITIES AND FUND EQUITY $336,404,933 $5,210,287

REVENUES State general fund appropriations $ 2,6 1 9,663 Public land trust 6,535 Dividend and interest income 10,329,562 Native Hawaiian Rights Fund 31,139 Federal and other grants 1 , 1 1 9, 1 53 Newspaper ads, donations, other revenues 66,230 Non-imposed fringe benefits 93,230 Hawaiian Projects Fund 0 TOTAL REVENUES $ 14,265,512 EXPENDITURES Current programs: Board of Trustees $ 2,814,406 Administration 4,140,001 Program Systems 4,860,827 Hawaiian Rights 1 >8 1 8>992 TOTAL EXPENDITURES $ 13>634>226 $ 631,286 EXCESS (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Realized gain (loss) on sale of investments $ (12,261,687) Net increase (decrease) in unrealized gain (loss) on investments held (13,805,943) Lapse of cash to State General Fund (89,846) TOTAL OTHER FINANCING SOURCES (USES) $ (26,157,476) EXCESS (deficiency) of revenues and other financing sources <g ^5 526 190) over expenditures and other financing uses FUND BALANCE, BEGINNING OF PERIOD $ 358,967,787 FUND BALANCE, END OF PERIOD $ 333,441,597