$152.9
$143.9
non-repetition of two large repairs and maintenance events at the property in the prior fiscal year, which decrease was partially offset by increased depreciation expense related to capital and tenant improvement projects and increased utility costs in the current fiscal year. Despite the reduction in interest bearing liabilities, the increase in interest rates led to an increase in interest expense on Liquidity Reserve Fund deposits. Also, MSIC experienced a one-time expense related to its hosting of the IADI General Meeting and Annual Conference..
$126.3
$100.2
$111.2
$152.9
$143.9
$126.3
$100.2
$111.2
$63.5
$62.7
$62.5
$58.3
$57.5
$63.5
$62.7
$62.5
$58.3
$57.5
2019
2020 2021 2020 2021
2022
2023
2019
2022
2023
Further, the general insurance reserve was reduced, as a result of the improved
Total Assets Total Assets
Total Fund Balance Total Fund Balance
TOTAL ASSETS & TOTAL FUND BALANCE As of September 30 ($ in Millions)
financial condition of member institutions.
$63.5
$62.5
$62.7
$58.3
$57.5
During the year ended September 30, 2023, insured excess shares decreased by $84 million or 3.37%, MSIC’s total assets decreased by $11 million, and the Fund Balance increased by $0.8 million. As a result of the decrease in excess shares and the increase in the Insurance Fund balance, the ratio of the Insurance Fund balance to insured excess shares (coverage ratio) increased to 2.40% at September 30, 2023. This ratio remains the strongest coverage ratio for any deposit insurer in the nation.
$63.5
$62.5
$62.7
$58.3
$57.5
4.72%
3.80%
4.72%
2.92%
3.80%
2.92%
2019
2020 2021 2020 2021
2022
2023
2019
2022
2023
Fund Balance
Insured Coverage Ratio Insured Coverage Ratio
Fund Balance
FUND BALANCE & INSURED COVERAGE RATIO As of September 30 ($ in Millions)
30 INTERNATIONAL COLLABORATION
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