Ka Wai Ola - Office of Hawaiian Affairs, Volume 22, Number 7, 1 Iulai 2005 — Page 17 Advertisements Column 1 [ADVERTISEMENT]

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Combined Balance Sheet as of April 30, 2005 Funds Account Groups ASSETS: Petty Cash 20,000 0 Cash in State Treasury 12,687,653 0 Cash held outside of State Treasury 4,409,037 0 Accounts Receivable 2,034,081 0 Interest & Dividends Receivable 486,306 0 Notes Receivable 15,468,648 0 Allowanee for Doubtful Accounts (4,361,672) 0 Prepaid Expenses 213,251 0 Security Deposit 46,018 0 NHTF Investments (Market Value) 342,940, 155 0 NHRLF Investments (Market Value) 22,895,058 0 NHRLF Premium (Discount) Carrying (7 1 , 85 1 ) 0 Accr Interest Paid - Bond Purchase 5,358 0 Land 0 84,100 Building 0 1,041,304 Leasehold Improvements 0 451,319 Furniture, Software & Equipment 0 3,280,851 Artwork 0 10,000 Prov for Accr Vacation & Comp Time 0 659,902 Prov for Est Claims & Judgements 0 460,026 Total Assets 396,772,042 5,987,502 LIABILITIES: Accounts and Other Payables 278,662 0 Due to State of Hawaii 170,000 0 Accrued Vacation & Comp Time 0 659,902 Estimated Claims & Judgements 0 460,026 Total Liabilities 448,662 1,119,928 FUND BALANCE: Investment in Fixed Assets 0 4,867,574 Reserve for Encumbrances 6,538, 135 0 Reserve for Prepaid Exp & Sec Deposit 274,918 0 Reserve for Notes Receivable 11,736,882 0 Unreserved Fund Balance 377,773,445 0 Total Fund Balance 396,323,380 4,867,574 Total Liabilities & Fund Balance 396,772,042 5,987,502

Note: These figures are unaudited Combined Statement of Revenues, Expenditures & Changes in Fund Balances for the Period Ended April 30, 2005 Total Funds REVENUES: General Fund Appropriations 2,532,647 Public Land Trust 7,951,982 Dividend & Interest ineome 6,773,510 Hawaiian Rights Fund 1,080 F ederal and Other Grants 226, 1 07 NewspaperAds 49,634 Donations and Other 28,761 Nonimposed Fringe Benefits 146,591 Total Revenues 17,710,310 EXPENDITURES : Current Programs: Board of Trustees 1,193,419 Support Services 7,730,456 Beneficiary Advocacy 5,616,195 Total Expenditures 14,540,070 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 3,170,240 OTHER FINANCING SOURCES (USES): Realized Gain(Loss) on Sale of Invstmnts 3,078,722 Unrealized Gain(Loss) on Invstmnts Held 9,670,636 Lapse of Cash to State General Fund (18,895) Total Other Financing Sources/(Uses) 12,730,463 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 15,900,704 Fund Balance, Beginning of Year 380,422,676 Fund Balance, End of Year 396,323,380