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F I N A N C I A L R E P O R T 2 0 1 7 19 STATEMENTS OF FINANCIAL POSITION As of June 30, 2017 and 2016 2017 2016 A SSE T S Cash & cash equivalents $9,700,497 $23,261,548 Prepaid expenses & other 266 266 Loans receivable 14,835,653 11,545,751 Investments 47,874,457 31,693,971 Total assets $72,410,873 $66,501,536 LI A BILITIE S Due to related entities & other $20,618 $19,463 Saving deposits 64,578,995 59,659,197 Total liabilities $64,599,613 $59,678,660 NE T A SSE T S Unrestricted $7,811,260 $6,822,876 Total liabilities & net assets $72,410,873 $66,501,536 Archdiocese of Denver Irrevocable Revolving Fund Trust e Archdiocese of Denver Irrevocable Revolving Fund Trust is a religious and charitable trust organized to build up the Kingdom of God within the territory of the archdiocese. While the trust holds legal title to its assets, the equitable and benecial owners of its assets belong to, and are owned by, each parish and other related ecclesiastical entities participating in the trust. e trust allows parishes and other related entities within the territory of the archdiocese to obtain competitive terms for depositing, withdrawing and borrowing money. STATEMENTS OF FINANCIAL POSITION As of June 30, 2017 and 2016 2017 2016 A SSE T S Cash & cash equivalents $6,463,880 $5,831,529 Prepaid expenses & other assets 33,813 34,714 Accounts receivable - 24,999 Due from parishes & other related entities, net 402,624 308,380 Investments 3,203,005 3,099,266 Total assets $10,103,322 $9,298,888 LI A BILITIE S & NE T A SSE T S Accounts payable & accrued expenses $69,660 $109,274 Claims payable 1,414,631 1,189,809 Total liabilities $1,484,291 $1,299,083 NE T A SSE T S Unrestricted $8,619,031 $7,999,805 Total liabilities & net assets $10,103,322 $9,298,888 Archdiocese of Denver Risk Management & Property/ Casualty Insurance Trust e Archdiocese of Denver Risk Management and Prop- erty/Casualty Insurance Trust (the Risk Management Trust) strives to protect parishes and other participating ecclesiastical entities within the territory of the archdio- cese from catastrophic nancial loss. Prevention and oth- er cost-containment measures are stressed to minimize risk and control plan costs. STATEMENTS OF ACTIVITIES Years ended June 30, 2017 and 2016 2017 2016 IN TERE S T INCOME Loans $503,083 $444,088 Investments 899,169 592,803 Total interest income $1,402,252 $1,036,891 Interest expense $563,560 $316,789 Net interest income $838,692 $720,102 Realized and unrealized losses from investments, net $316,369 ($351,439) O THER E X PENSE S, NE T Trustee fees 44,022 36,606 Parish assistance fund gants 66,500 - Geneal & administative expenses 56,155 57,016 Total other expenses $166,677 $93,622 Increase in net assets $988,384 $275,041 STATEMENTS OF ACTIVITIES Years ended June 30, 2017 and 2016 2017 2016 SUPP OR T & RE V ENUE Self insuance premiums & insuance billings $5,033,965 $5,212,006 Investment income 104,783 24,140 Miscellaneous, net - 2,655 Total suppot & revenue $5,138,748 $5,238,801 E X PENSE S Self insuance claims, premiums, settlements & other costs $4,085,658 $3,813,838 Suppot & administative expenses 433,864 589,499 Total expenses $4,519,522 $4,403,337 Increase in net assets $619,226 $835,464