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CITY OF ELK RIVER, MINNESOTA <br />STATEMENT OF CASH FLOWS <br />PROPRIETARY FUNDS <br />YEAR ENDED DECEMBER 31, 2006 <br />Municipal LiquorGarbage <br />Current YearPrior YearCurrent YearPrior Year <br />Reconciliation of operating income (loss) to net cash <br /> provided (used) by operating activities: <br /> Operating income (loss)$ 754,182$ 502,929$ 21,275$ 17,529 <br /> Adjustments to reconcile operating income (loss) to <br /> net cash provided (used) by operating activities: <br /> Other revenue related to operations - - - - <br /> Depreciation expense 141,254 139,907 - - <br /> (Increase) decrease in assets: <br /> Accounts receivable 1,047 (900) (2,701) (1,722) <br /> Due from other funds - - (3,892) (6,007) <br /> Due from other goverments - - - - <br /> Inventories (54,413) (316,329) - - <br /> Prepaid items 14 (437) - - <br /> Increase (decrease) in: <br /> Accounts payable (12,241) 58,359 32,326 190 <br /> Salaries payable (386) 3,237 80 (85) <br /> Deferred revenue 493 556 - - <br /> Compensated absences payable 5,153 4,414 - - <br />Net cash provided by operating activities$ 835,103$ 391,736$ 47,088$ 9,905 <br />Noncash capital and related financing activities: <br /> Amortization of bond issuance costs$ 414$ 242$ -$ - <br /> Prior period adjustment to accumulated depreciation - - - - <br /> Discount on bonds issued - - - - <br /> Assets purchased on account - - - - <br /> Disposal of capital assets - 15,967 - - <br /> Contribution of capital assets from developers - - - - <br />The notes to the financial statements are an integral part of this statement. <br />32 <br /> <br />