Ka Wai Ola - Office of Hawaiian Affairs, Volume 21, Number 4, 1 April 2004 — OHA FINANCIAL REPORT [ARTICLE]

OHA FINANCIAL REPORT

COMBINED BALANCE SHEET AS OF DECEMBER 31, 2003

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE PERIOD ENDING: DECEMBER 31,2003 I 1

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Account Funds Groups ASSETS: Petty Cash 10,000.00 0.00 Cash in State Treasury 13,039,211.10 0.00 Cash held outside of State Treasury 6,729,854.25 0.00 Interfund Assets 0.00 0.00 Accounts Receivable 3,458,920.58 0.00 Interest & Dividends Receivable 725,359.84 0.00 Notes Receivable 17,222,910.27 0.00 Allowance for Doubtful Accounts (4,715,804.33) 0.00 Prepaid Expenses 284,130.09 0.00 Security Deposit 47,187.07 0.00 NHTF Investments (Market Value) 313,003,550.31 0.00 NHTF Premium (Discount) Carrying 0.00 0.00 NHRLF Investments (Market Value) 22,414,810.42 0.00 NHRLF Premium (Discount) Carrying 1 16,294.48 0.00 Acer Interest Paid - Bond Purchase 18,069.28 0.00 Land 0.00 84,100.00 Building 0.00 1,041,303.96 Leasehold Improvements 0.00 389,337.02 Furniture, Software & Equipment 0.00 3,074,306.37 Artwork 0.00 10,000.00 Prov for LT Debt - Oper Lease Rent 0.00 0.00 Prov for Acer Vacation & Comp Time 0.00 584,729.84 Prov for Est Claims & Judgements 0.00 460,026.00 Total Assets 372,354,493.36 5,643,803.19 LIABILITIES: Accounts and Other Payables 3,204,217.52 0.00 Due to State of Hawaii 1 10,000.00 0.00 Operating Lease Rents 0.00 0.00 Accrued Vacation & Comp Time 0.00 584,729.84 Estimated Claims & Judgements 0.00 460,026.00 Total Liabilities 3,314,217.52 1,044,755.84 FUND BALANCE: Investment in Fixed Assets 0.00 4,599,047.35 Reserve for Encumbrances 5,245,903.74 0.00 Reserve for Prepaid Exp & Sec Deposit 343,473.94 0.00 Reserve for Notes Receivable 12,427,609.35 0.00 Unreserved Fund Balance 351,023,288.81 0.00 Total Fund Balance 369,040,275.84 4,599,047.35 Total Liabilities & Fund Balance 372,354,493.36 5,643,803.19

Total Funds REVENUES: General Fund Appropriations 2,532,647.00 Public Land Trust 4,708,746.06 Dividend & Interest Income 2,473,077.74 Hawaiian Rights Fund 3,917.42 Federal and Other Grants 91,555.14 Newspaper Ads 19,102.07 Donations and Other 21,412.12 Nonimposed Fringe Benefits 87,792.70 Total Revenues 9,938,250.25 EXPENDITURES: Current Programs: Board of Trustees 954,692.21 Support Services 4,363,025.77 Beneficiary Advocacy 2,531,215.74 Total Expenditures 7,848,933.72 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 2,089,316.53 OTHER FINANCING SOURCES (USES): Realized Gain(Loss) on Sale of Invstmnts 10,793,789.55 Unrealized Gain(Loss) on Invstmnts Held 12,688,747.3 1 Operating Transfers 0.00 Lapse of Cash to State General Fund (12,276.71) Total Other Financing Sources/(Uses) 23,470,260.15 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 25,559,576.68 Fund Balance, Beginning of Year 343,480,699.16 Fund Balance, End of Year 369,040,275.84