Ka Wai Ola - Office of Hawaiian Affairs, Volume 32, Number 12, 1 December 2015 — UNAUDITED FINANCIAL STATEMENTS [ARTICLE+ILLUSTRATION]

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UNAUDITED FINANCIAL STATEMENTS

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Office of Hawaiian Affairs I State of Hawai'i GOVERNMENTAL FUNDS - BALANCE SHEET/GOVERNMENT-WIDE STATEMENT OF NET ASSETS June 30, 2015 (Dollars in thousands)

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Office of Hawaiian Affairs I State of Hawai'i STATEMENT 0F REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES/GOVERNMENT-WIDE STATEMENT 0F ACTIVITIES June 30, 2015 (Dollars in thousands)

GOVERNMENTAL FUNDS ■ SPECIAL REVENUE FUNDS ^mmPnt_ J wide General Public Federal Ho'okele Hi'ilei Statement ASSETS Fund Land Trust Grants Other Pono LLC* Aloha LLC* Total Adjustments of Net Assets Petty cash $- $1 $- $- $- $6 $7 $- $7 Cash in State Treasury 673 4,946 - 5,619 - 5,619 Cash in banks - 8,968 9,463 710 98 2,284 21,523 - 21,523 Cash held by investment manager - 931 1,790 - - - 2,721 - 2,721 Restricted cash - - 112 - - - 112 - 112 Accounts receivable - 8,001 200 8 195 220 8,624 - 8,624 Due from State of Hawaii _______ Due from other fund _____ 143 143 143 Interest and dividends receivable 1 53 - - - 54 - 54 Inventory, prepaid items and other assets - 349 - - 1 153 503 226 729 Notes receivable - due within one year - 316 3,673 - - - 3,989 - 3,989 Notes receivable - due after one year - 952 7,584 - - - 8,536 - 8,536 Security deposits - 151 - - - - 151 - 151 Investments - 348,692 4,817 - - - 353,509 - 353,509 Capital assets - net _______ 254,879 254,879 TOTAL $673 $373,308 $27,692 $718 $294 $2,806 $405,491 $255,105 $660,596 'Represents results of fiscal year ending December 31, 2014.

GOVERNMENTAL FUNDS GovernmentLIABILITIES AND _ . D , c . . u . . . u.., _t ™de t General i lei Statement FUND BALANCES/NET ASSETS Fund Land Trust Grants Other Pono LLC* Aloha LLC* Total Adjustments of Net Assets Liabilities Accounts payable and accrued liabilities $260 $5,302 $57 $- $23 $492 $6,134 $- $6,134 Due to State of Hawaii - 595 300 - - - 895 - 895 Due to other fund - - 143 - 143 - 143 Long-term liabilities: Due within one year - - - - 1,038 1,038 Due after one year - - - - 29,834 29,834 Total liabilities 260 5,897 357 - 166 492 7,172 30,872 38,044 Fund Balances/Net Assets Fund balances Nonspendable Prepaid items & security deposits - 500 - - 1 153 654 (654) Restricted for: Beneficiary advocacy - - 95 - - - 95 (95) Native Hawaiian loan programs - - 19,770 - - - 19,770 (19,770) Long-term portion of notes receivable - - 7,584 - - - 7,584 (7,584) Committed to: DHHL-issued revenue bonds - 39,341 - - - - 39,341 (39,341) Assigned to: Support services 256 5,714 - - - - 5,970 (5,970) Beneficiary advocacy 175 8,142 - 718 - - 9,035 (9,035) Ho'okele Pono LLC - 127 - 127 (127) Hi'ilei Aloha LLC _____ 2,161 2,161 (2,161) Long-term portion of notes receivable - 952 - - - - 952 (952) Public Land Trust - 312,762 - - - - 312,762 (312,762) Unassigned (18) - (114) - - - (132) 132 Total fund balances 413 367,411 27,335 718 128 2,314 398,319 (398,319) Total liabilities & fund balances $673 $373,308 $27,692 $718 $294 $2,806 $405,491 Net Assets Invested in capital assets, net of related debt 254,694 Restricted - federal funds 27,335 Unrestricted 340,523 TOTAL NET ASSETS $622,552

GOVERNMENTAL FUNDS Governmentwide General Public Federal Ho'okele Hi'ilei Statement Fund Land Trust Grants Other Pono LLC* Aloha LLC* Total Adjustments of Activities EXPENDITURES/EXPENSES Current divisions: Board of Trustees $41 $2,440 $- $- $- $- $2,481 $- $2,481 Support services 1,385 18,660 - 15 - - 20,060 (135) 19,925 Beneficiary advocacy 1,277 19,707 1,082 942 - - 23,008 - 23,008 Depreciation - - - - 2,449 2,449 Ho'okele Pono LLC - 394 - 394 - 394 Hi'ilei Aloha LLC _____ 5,751 5,751 (94) 5,657 TOTAL EXPENDITURES/EXPENSES 2,703 40,807 1,082 957 394 5,751 51,694 2,220 53,914 Program revenues Charges for services - - 600 - - - 600 - 600 Operating grants - - 253 - 200 - 453 - 453 Interest and investment earnings - - 8 - - - 8 - 8 TOTAL PROGRAM REVENUES - 861 - 200 1,061 1,061 Net program (expenses) revenue (2,703) (40,807) (221) (957) (194) (5,751) (50,633) (2,220) (52,853) General revenues Appropriations, net of lapses 2,741 - - - 2,741 - 2,741 Public land trust - 21,324 - - - - 21,324 - 21,324 Interest and investment (losses) earnings - 1,195 - - - - 1,195 - 1,195 Newspaper advertisements 70 - - 70 - 70 Donations and other - 695 15 - - - 710 - 710 Hi'ilei Aloha LLC _____ 4j059 4,059 4,059 Non-imposed fringe benefits 205 - - - 205 - 205 TOTAL GENERAL REVENUES 2,946 23,214 15 70 4,059 30,304 30,304 EXCESS OF (DEFICIENCY) REVENUES OVER EXPENDITURES $243 $(17,593) $(206) $(887) $(194) $(1,692) $(20,329) $(2,220) $(22,549) Other financing sources (uses) Proceeds from debt 1,589 1,589 (1,589) Net transfers (to) from other funds - (721) - 721 188 2,652 2,840 - 2,840 Net change in fund balance/net assets 243 (16,725) (206) (166) (6) 960 (15,900) (3,809) (19,709) Fund balance/net assets Beginning of year 170 384,136 27,541 884 134 1,354 414,219 228,042 642,261 END OF YEAR $413 $367,411 $27,335 $718 $128 $2,314 $398,319 $224,233 $622,552