Ka Wai Ola - Office of Hawaiian Affairs, Volume 20, Number 05, 1 May 2003 — OHA FINANCIAL REPORT [ARTICLE]

OHA FINANCIAL REPORT

COMBINED BALANCE SHEET ( AS OF DECEMBER 31, 2002 (FY-2003) | ASSETS FUNDS ACCOUNT GROUPS Petty cash $ 10,000.00 Cash in state treasury 8,898,285.57 Cash held outside of state treasury 13,486,799.02 Interfund assets 0.00 Accounts receivable 53,135.00 Interest and dividends receivable 2,232,445.27 Notes receivable 18,441,342.51 Allowanee for doubtful accounts (5,470,082.22) Prepaid expenses 353,260.00 Security deposit 47,187.07 NHTF investments (market value) 249,905,900.04 NHTF piemium (discount) canying 1,035,986.47 NHRLF investments (market vālue) 17,580,728.56 NHRLF premium (discount) carrying 173,070.01 Accrued interest paid - bond purchase 234,224.20 Land $84,100.00 Building 1,041,303.96 Leasehold improvements 375,337.02 Furnitures software & equipment 2,133,587.40 Artwork 10,000.00 Prov for LT debt - oper lease rent 766,765.71 Prov for accrued vacation and eomp time 555,797 .66 Prov for est claims and judgements 548,535.00 TOTAL ASSETS $306,982,281.50 $ 5,515,426.75 LIABILIT1ES Accounts and other payables $ 1,901,356.17 Due to State of Hawaii 1 10,000.00 Operating lease rents 755 7 j Accrued vacation and eomp time 555 797 55 Estimated claims and jdgements 548,535.00 TOTAL LIABILITIES $2,011,356.17 $ 1,871,098.37 Fund Balance: Investments in fixed assets $ 3,644,328.38 Reserve for encumbrances 5 5,726,619.30 Reserve for prepaid exp and sec deposit 634,671.27 Reserve for notes receivable 13,866,851.81 Unreserved fund balance 284,742,782.95 Total Fund Balance $ 304,970,925.33 $ 3,644,328.38 TOTAL LIABILITIES AND FUND BALANCE JS 306,982,281.50 $ 5,515,426.75

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES FORTHE PERIOD ENDING DECEMBER 31, 2002 REVENUES TOTAL FUNDS General fund appropriations $ 2,532,663.00 Public land trust 55,823.79 Dividend and interest ineome 5,495,576.10 Hawaiian rights fund 6,560.87 Federal and other grants 127,294.43 Newspaper ads 22,600.% Donations and other 12,323.38 Nonimposed £ringe benefits 76,500.37 TOTAL REVENUES $ 8,329,342.90 EXPENDITURES Current Programs: Board of Trustees 5 702,181.67 Support Services 3,11 6,764.9 1 Beneficiary Advocacy 1 ,978,078.82 TOTAL EXPENDITURES $ 5,797,025.40 ~ EXCESS (deficiency) of revenues over expenditures $ 2,532,317.50 OTHER FINANCING SOURCES (USES) Realized gain (loss) on sale of investments $ (7,434,974.70) Unrealized gain (loss) on investments held (6,946,187.87) Non-imposed fringe expense (76,500.37) NHLC retained portion (3,280.43) Bad debt expense (91,638.62) Operating transfers 0.00 Lapse of cash to state general fund (3,633.66) Investment manager fees (557,5 1 2.04) TOTAL OTHER FINANC1NG SOURCES (USES) (15,113,727.69) EXCESS (deficiency) of revenues and other financing sources over expenditures and other financing uses (12,581,410.19) FUND BALANCE, BEGINNING OF YEAR $ 317, 552,335.52 FUNP BALANCE, ENP OF PERIOD $ 304,970,92533