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ELK RIVER MUNICIPAL UTILITIES <br /> ELK RIVER,MINNESOTA <br /> STATEMENTS OF CASH FLOWS-CONTINUED <br /> YEARS ENDED DECEMBER 31,2012 AND 2011 <br /> Electric <br /> 2012 2011 <br /> RECONCILIATION OF OPERATING INCOME(LOSS)TO <br /> NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES <br /> Operating income(loss) $ 2,908,378 $ 2,150,936 <br /> Adjustments to reconcile operating income(loss) <br /> to net cash provided(used)by operating activities: <br /> Other revenue related to operations 144,779 73,712 <br /> Bad debt expense 42,395 30,312 <br /> Depreciation 2,099,594 2,041,717 <br /> (Increase)decrease in assets: <br /> Accounts receivable 162,727 (125,863) <br /> Other receivables (20,441) 47,673 <br /> Special assessments - - <br /> Due from other governments 1,627 - <br /> Inventories 68,325 20,967 <br /> Prepaid expenses (65,773) 18,050 <br /> Increase(decrease)in liabilities: <br /> Accounts payable (1,730) (2,479) <br /> Salaries and benefits payable 7,233 2,844 <br /> Net other postemployment benefits liability 4,601 5,663 <br /> Unearned revenue 8,262 - <br /> Compensated absences 2,023 411 <br /> Due to other governments (38,183) 71,130 <br /> Customer deposits payable 51,908 60,971 <br /> NET CASH PROVIDED(USED) <br /> BY OPERATING ACTIVITIES $ 5,375,725 $ 4,396,044 <br /> NONCASH CAPITAL AND <br /> RELATED FINANCING ACTIVITIES <br /> Amortization of bond premium $ 3,271 $ 3,275 <br /> Amortization of deferred charges on refunding $ 6,592 $ 6,600 <br /> Loss on disposal of capital assets $ 9,211 $ 37,158 <br /> Capital assets purchased on account $ - $ 180,000 <br /> Contribution of capital assets $ - $ - <br /> The notes to the financial statements are an integral part of this statement. <br /> 28 <br />