2011 PHFA Annual Report - Pennsylvania Housing Finance Agency

General Multifamily Single Family Mortgage Insurance
Fund Housing Program Loan Program Fund Subtotal HEMAP Total
ASSETS
Current Assets:
Cash and cash equivalents $ 20,782 $ 74,159 $ 872,373 $ 35,624 $ 1,002,938 $ 457 $ 1,003,395
Restricted cash and cash equivalents 30 135,986 91,608 - 227,624 - 227,624
Investments 7,421 2,254 1,021 - 10,696 - 10,696
Restricted investments 2,071 1,153 2,629 - 5,853 - 5,853
Accrued interest receivable on investments 71 211 1,204 38 1,524 - 1,524
Mortgage loans receivable, net - 32,714 69,592 - 102,306 7,156 109,462
Deferred financing costs and other assets 4,151 255 795 - 5,201 208 5,409
Due from other funds 66,234 39,407 - - 105,641 - 105,641
Total current assets
Noncurrent assets:
100,760 286,139 1,039,222 35,662 1,461,783 7,821 1,469,604
Investments 41,947 10,353 65,883 3,531 121,714 - 121,714
Restricted investments - - 103,659 - 103,659 - 103,659
Mortgage loans receivable, net - 465,118 3,868,661 - 4,333,779 47,586 4,381,365
Capital assets, net 33,349 - - - 33,349 4 33,353
Deferred financing costs and other assets 1,461 2,896 7,151 - 11,508 6 11,514
Deferred outflow of resources 1,628 16,161 126,398 - 144,187 - 144,187
Total noncurrent assets 78,385 494,528 4,171,752 3,531 4,748,196 47,596 4,795,792
Total assets
LIABILITIES
Current liabilities:
$ 179,145 $ 780,667 $ 5,210,974 $ 39,193 $ 6,209,979 $ 55,417 $ 6,265,396
Bonds and notes payable, net $ - $ 27,064 $ 494,725 $ - $ 521,789 $ - $ 521,789
Accrued interest payable 384 4,301 41,547 - 46,232 - 46,232
Accounts payable and accrued expenses 3,629 109 1,472 3 5,213 715 5,928
Escrow deposits and other liabilities 121 47,407 54,818 300 102,646 - 102,646
Due to other funds - - 100,302 - 100,302 5,339 105,641
Total current liabilities
Noncurrent liabilities:
4,134 78,881 692,864 303 776,182 6,054 782,236
Bonds and notes payable, net 19,930 192,762 4,065,659 - 4,278,351 - 4,278,351
Derivative instrument - Interest rate swaps 1,628 17,179 127,613 - 146,420 - 146,420
Escrow deposits and other liabilities 14,193 245,072 22,132 1,829 283,226 4,077 287,303
Total noncurrent liabilities 35,751 455,013 4,215,404 1,829 4,707,997 4,077 4,712,074
Total liabilities
NET ASSETS
39,885 533,894 4,908,268 2,132 5,484,179 10,131 5,494,310
Invested in capital assets, net of related debt 13,419 - - - 13,419 4 13,423
Restricted - 5,564 188,252 - 193,816 45,282 239,098
Unrestricted 125,841 241,209 114,454 37,061 518,565 - 518,565
Total net assets 139,260 246,773 302,706 37,061 725,800 45,286 771,086
Total liabilities and net assets $ 179,145 $ 780,667 $ 5,210,974 $ 39,193 $ 6,209,979 $ 55,417 $ 6,265,396
35
2010
(In thousands of dollars)
The accompanying notes are an integral part of these financial statements .