Ka Wai Ola - Office of Hawaiian Affairs, Volume 35, Number 1, 1 Ianuali 2018 — PROPRIETARY FUNDS [ARTICLE]

PROPRIETARY FUNDS

OFFICE OF HAWAIIAN AFFAIRS | STATE OF HAWAI'I

FOR THE FISCAL YEAR ENDING DECEMBER 31, 2016 (DOLLARS IN THOUSANDS)

STATEMENT OF NET POSITION

STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN NET POSITION

HO'OKELE PONO LLC HI'ILEI ALOHA LLC TOTAL ASSETS: Cash and cash equivalents $ 86 $ 2,795 $ 2,881 Accounts receivable, net 32 221 253 Inventory, prepaid items and other assets 1 211 212 Capital assets - net - 14,937 14,937 TOTAL ASSETS $ 119 $ 18,164 $ 18,283 LIABILITIES: Accounts payable and accrued liabilities $ 11 $ 485 $ 496 COMMITMENTS AND CONTINGENCIES NET POSITION: Invested in capital assets, net of related debt 1 14,937 14,938 Restricted - 120 120 Unrestricted 107 2,742 2,849 TOTAL NET POSITION 108 17,799 17,907 TOTAL LIABILITIES AND NET POSITION $ 119 $ 18,284 $ 18,403

REVENUES: Sales - gift store and other $ - $ 2,413 $ 2,413 Cost of sales - (2,670) (2,670) Gross margin - (257) (257) Admissions and tours - 4,139 4,139 Other revenue 12 1,006 1,018 Cooperative agreement - federal government 179 - 179 TOTAL OPERATING REVENUE 191 4,888 5,079 OPERATING EXPENSES: Program services 272 3,729 4,001 Management and general 67 1,499 1,566 Fundraising - 18 18 TOTAL OPERATING EXPENSES 339 5,246 5,585 OPERATING LOSS (148) (358) (506) NON-OPERATING EXPENSES: Net transfers from other funds 149 629 778 CAPITAL CONTRIBUTIONS: Restricted donations for purchase of real estate - 120 120 CHANGE IN NET POSITION 1 391 392 NET POSITION: Beginning of year 107 17,408 17,515 Fund reclassification END OF YEAR $ 108 $ 17,799 $ 17,907