Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the ADFA Report topic
No spam. Unsubscribe anytime.
ADFA reports positive cash flow year; proceeds used to pay down line of credit
Summary
Brian Scoggins presented the annual ADFA report, saying portfolio-company exits generated positive cash flow that was primarily used to pay down the fund's supporting line of credit; no committee questions were recorded.
The Senate Agriculture, Forestry & Economic Development committee heard the Arkansas Development Finance Authority (ADFA) annual report from Brian Scoggins, who characterized the year as strong for the state's institutional fund.
Scoggins told the committee that "many of the funds that were invested in had their portfolio companies mature and had some exits that allowed for positive, cash flow return to the fund which was then used to pay down primarily used to pay down the line of credit that was supporting the fund." He said the report was provided to members and offered to answer questions; none were asked during the meeting.
Committee members accepted the report with no follow-up requests recorded. The chair thanked Scoggins and the committee moved to adjourn.
