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LOAN FUND FINANCIALS
Function
To produce a Revenue and Expense report containing activity related to specific loan funds, and to provide an available fund balance for lending projections.

The report will summarize cash activity for each loan fund for the current month, current fiscal year, and the entire period spanning the inception of the loan fund to the present.  In addition to the data garnered through the GMS-RLSS system and its accompanying database, additional pertinent information may be entered.  The original loan fund investment, matching income, and miscellaneous expenses may all become components of the report if so desired.  If all income and expense for a specific fund are properly entered, this report can be a valuable tool to reconcile cash balances with your accounting system.


Operating Instructions

Setup tab
The setup process is required prior to the production of an accurate report.  Each fund is setup individually, with original investment and miscellaneous income and expense entered for the identified fund. 

Loan Fund                
Use the combo box to select the desired fund 

Initial Fund                
Enter the amount of the original investment 

Date Received         
Use the calendar to identify the date the original investment was received 

Other Revenues       
Put a checkmark in this box if you wish to enter additional revenues 

Click on Description and enter the source of the revenue (ex: Star Bank Matching Funds)

Tap enter to move to Amount and enter the revenue amount

Tap enter to move to Date and enter the date the revenue was received (ex: 03/01/09)

Other Expenses       
Put a checkmark in this box if you wish to enter additional expenses 

Click on Description and enter the expense description (ex: Transfer to Administration)

Tap enter to move to Amount and enter the expense amount

Tap enter to move to Date and enter the date the expense took place (ex: 03/31/09)


Processing tab

Fiscal Year 

Beginning                  
Use the calendar to select the fiscal year beginning date.

Ending                       
Use the calendar to select the fiscal year ending date.

Include All Funds     
When the checkmark is removed, a drop menu will appear allowing selection of the desired fund.

Cutoff Date                
Use the calendar to select a cutoff date for the report.  Loan activity and entered income/expense beyond this date will be excluded from the report.  “Cutoff Date” also determines the calculations of “Current Month” when the report is produced. For example, a cutoff date of 03/31/09 will result in activity with dates that fall within the month of 03/09 appearing on the report under Current Month.

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Things You Should Know
  • The report will automatically include lending activity recorded within GMS-RLSS as Revenues (Principal Repaid, Interest Paid, Late Fees, etc.) and Expenses (Loans Disbursed).  It will also track escrow activity recorded in GMS-RLSS and provide a summary of escrow funds received and disbursed, along with an escrow balance.  
  • Although intended to provide financial statements for individual loan funds, all funds may be selected to provide an overall analysis of your lending portfolio. 
  • Current Month includes activity recorded within GMS-RLSS Loan Activity with a date falling within the month entered as Cutoff Date.  Any miscellaneous revenues or expenses recorded with a date that falls within that month will be included, too. 
  • Current Year calculates activity and miscellaneous revenue or expense that was recorded with a date that falls within the Fiscal Year entered.  Only activity prior to the cutoff date will be included. 
  • Cumulative to Date figures represent activity from the original loan fund inception (in most situations, the initial investment date) through the cutoff date entered. 
  • The Description used when entering Other Revenues and Other Expenses must be consistent ifyou wish to add to the YTD and Cumulative to Date amounts for that item. 
  • The report may be produced as often as needed, since no data is altered during preparation of the report.  Calculations include summarizations from the loan histories, so if additional activity is entered, the report may be recreated.