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Exhibit 7
<br />City of Louisville, Colorado
<br />Statement of Cash Flows
<br />Proprietary Funds
<br />For the Year Ended December 31, 2008
<br />Internal
<br />Service
<br />Water Golf
<br />& WastewaterCourseTotalFunds
<br />Cash flows from operating activities
<br />Receipts from customers$ 1,864,6606,609,601$ 8,474,261$ 460,516
<br />Payments to suppliers(2,054,804) (1,706,090) (3,760,894) (143,839)
<br />Payments to employees(2,105,077) - (2,105,077) -
<br />Net cash provided by operating activities2,449,720 158,570 2,608,290 316,677
<br />Cash flows from noncapital financing activitie
<br />s
<br /> Internal activity - payments to other funds(764,000) - (764,000) -
<br /> Internal activity - payments from other funds- 700,000 700,000 -
<br />e cas usey capa an reaenancng acves
<br />Nthdbitldltdfiitiiti(764,000) 700,000 (64,000) -
<br />Cash flows from capital and related financing activities
<br />Capital contributions1,221,728 - 1,221,728 -
<br />Purchases of capital assets(277,952) (549,017) (826,969) (226,705)
<br />Principal paid on capital debt(1,071,083) (220,000) (1,291,083) -
<br />Interest paid on capital debt(577,671) (38,122) (615,793) -
<br />Net cash used by capital and related financing activities
<br />(704,978)
<br /> (807,139) (1,512,117) (226,705)
<br />Cash flows from investing activities
<br />Interest received769,384
<br /> - 769,384 105,523
<br />Net increase (decrease) in cash and cash equivalents1,750,126 51,431 1,801,557 195,495
<br />Cash and cash equivalents, January 112,751,012 - 12,751,012 2,081,636
<br />Cash and cash equivalents, December 3114,501,138$
<br /> 51,431$ 14,552,569$ 2,277,131$
<br />Reconciliation of operating income (loss) to net cash provided
<br />by operating activities:
<br />
<br />Operating income (loss)1,340,700$ 11,672$ 1,352,372$ 4,489$
<br />djustments to reconcile operating income to net cash provided
<br />A
<br />by operating activities:
<br />Depreciation and amortization expense1,369,339 131,076 1,500,415 348,707
<br />Change in assets and liabilities:
<br />Receivables(226,411) (56,672) (283,084) 7,524
<br />Inventories- 26,621 26,621 -
<br />Prepaid expenses- 21,754 21,754 -
<br />Compensated absenses(2,894) - (2,894) -
<br />Accounts payable(53,743) 19,471 (34,273) (44,043)
<br />Accrued liabilities22,730 4,648 27,378 -
<br />Net cash provided by operating activities2,449,720$ 158,570$ 2,608,290$ 316,677$
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<br />The notes to the financial statements are an integral part of this statement.
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