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| NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES | ||
| 1996 | 1995 | |
| (unaudited) | (for comparative purposes) | |
| Operating Cash Provided | ||
| Defaulted Loans Collected | $ 2,448,328 | $ 2,013,058 |
| Loan Origination and Other Fees | 1,303,938 | 1,146,894 |
| Interest, Federal | 915,999 | 804,695 |
| Interest and Penalty, Non-Federal | 139,458 | 40,864 |
| Other Operating Cash Provided | 8,518 | 11,239 |
| Total Operating Cash Provided | 4,816,241 | 4,016,750 |
| Operating Cash Used | ||
| Interest and Penalties, Non-Federal | (93) | (54) |
| Interest, Federal | (992,879) | (525,993) |
| Defaulted Loan Payments | (2,787,767) | (2,521,173) |
| Interest Subsidy Payments | (3,077,813) | (2,801,143) |
| Mandatory Administrative Expenses | (209,869) | (257,862) |
| Grant Award Payments | (24,731,647) | (25,014,693) |
| Salaries and Benefits | (304,297) | (308,682) |
| Rent, Communications and Utilities | (93,159) | (53,444) |
| Contractual Program Services | (637,266) | (658,288) |
| Printing and Reproduction | (20,879) | (15,718) |
| Travel and Transportation | (9,383) | (11,954) |
| Materials, Supplies and Equipment | (22,332) | (21,679) |
| Guaranty Agency Collection Fees | (335,818) | (285,376) |
| Payment of Origination Services | (19,507) | (3,750) |
| Other Operating Cash Used | -- | (835) |
| Total Operating Cash Used | (33,242,709) | (32,480,644) |
| Net Operating Cash Used by Operating Activities | $ (28,426,468) | $ (28,463,894) |
| CASH PROVIDED (USED) BY INVESTING ACTIVITIES | ||
| 1996 | 1995 | |
| (unaudited) | (for comparative purposes) | |
| Collection of Advances | -- | 750 |
| Collection of Loans Receivable | 261,720 | 73,847 |
| Loan Disbursements | (9,038,958) | (3,267,940) |
| Net Cash Used by Investing Activities | (8,777,238) | (3,193,343) |
| CASH PROVIDED (USED) BY FINANCING ACTIVITIES | ||
| 1996 | 1995 | |
| (unaudited) | (for comparative purposes) | |
| Appropriated Funds Received | 29,378,082 | 33,274,634 |
| Appropriations Transferred (To) From Others | (25,113) | 34,218 |
| Appropriated Funds Returned | (1,295,524) | (875,040) |
| Net Appropriations | 28,057,445 | 32,433,812 |
| Repayments to U.S. Treasury For Borrowings | (1,168,693) | (759,319) |
| Borrowing from U.S. Treasury | 7,957,183 | 4,892,496 |
| Net Cash Provided by Financing Activities | 34,845,935 | 36,566,989 |
| Net Cash Provided by Operating, Investing, and Financing Activities | (2,357,771) | 4,909,752 |
| Fund Balances with U. S. Treasury , Beginning of Year | 39,375,252 | 34,465,500 |
| Fund Balances with U. S. Treasury , End of Year | $37,017,481 | $39,375,252 |
| RECONCILIATION OF NET OPERATING ACTIVITY BEFORE APPROPRIATIONS TO NET CASH USED BY OPERATING ACTIVITY |
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| 1996 | 1995 | |
| (unaudited) | (for comparative purposes) | |
| Net Operating Activity | $ (30,504,758) | $ (29,355,915) |
| Adjustments to Reconcile Net Operating Activity to Net Cash Used by Operating Activities: | ||
| Decrease (Increase) in Credit Program Receivable, Net: | ||
| Direct Loans | 428,277 | 457,924 |
| Defaulted Guaranteed Loans | (20,590) | 301,843 |
| Facilities Loans | (22,556) | (12,990) |
| Decrease in Advances to Guaranty Agencies, Net | 847 | 1 |
| Decrease (Increase) in Entity Accounts Receivable, Net | (5,507) | (8,408) |
| Decrease (Increase) in Non-Entity Accounts Receivable, Net | 7,907 | (32,982) |
| Increase in Interest Payable to U. S. Treasury | 9,431 | 1,910 |
| Increase in Estimated Liabilities for Loan Guarantees | 2,111,902 | 81,529 |
| Increase (Decrease) in Accrued Grant Liability | (450,591) | 76,309 |
| Increase (Decrease) in Accrued Contractual Services Liability | 10,187 | (6,313) |
| Increase (Decrease) in Accrued Salaries and Benefits | 3,265 | (10,980) |
| Increase in Other Accrued Liabilities | 6,661 | 42,799 |
| Increase (Decrease) in Accrued Workers Compensation Liability | (943) | 1,379 |
| Net Adjustments | 2,078,290 | 892,021 |
| Net Cash Used By Operating Activities | $(28,426,468) | $(28,463,894) |
[Accompanying Notes]