Southeast Harris County Economic Development Council, Inc. dba Economic Alliance Houston Port Region

NOTES TO FINANCIAL STATEMENTS (Continued)

For the Years Ended December 31, 2021 and 2020

NOTE 4 – CASH DEPOSITS IN EXCESS OF INSURED LIMITS

The Council maintains its cash balances predominantly in one financial institution located in La Porte, Texas. The balances are insured by the Federal Deposit Insurance Corporation up to $250,000. At December 31, 2021, and 2020, the Council’s uninsured cash balances totaled $388,278 and $263,043, respectively.

NOTE 5 – AVAILABILITY AND LIQUIDITY

The following represents the Council’s financial assets at December 31, 2021 and 2020, respectively.

not available to be used within one year:

The Council’s goal is generally to maintain financial assets to meet 90 days of operating expenses (approximately $268,599). As part of the Council’s liquidity plan, excess cash is invested in savings and money market accounts.

NOTE 6 – NET ASSETS

Net Assets Without Donor Restrictions

All support and contributions are considered without donor restrictions unless specifically restricted by the donor.