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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF CASH FLOWS
<br />YEARS ENDED DECEMBER 31, 2008 AND 2007
<br />2008
<br />CASH FLOWS FROM OPERATING ACTIVITIES
<br />Receipts from customers and users
<br />Other operating cash receipts
<br />Payments to suppliers
<br />Payments to employees
<br />Electric Water Total
<br />$ 23,171,758 $ 2,325,309 $ 25,497,067
<br />202,455 (3,704) 198,751
<br />(17,617,200) (840,686) (18,457,886)
<br />(1,362,656) (393,982) (1,756,638)
<br />NET CASH PROVIDED
<br />BY OPERATING ACTIVITIES
<br />CASH FLOWS FROM
<br />NONCAPITAL FINANCING ACTIVITIES
<br />Transfer to city
<br />Increase (decrease) in due to other city funds
<br />NET CASH USED BY NONCAPITAL
<br />FINANCING ACTIVITIES
<br />CASH FLOWS FROM CAPITAL
<br />AND RELATED FINANCING ACTIVITIES
<br />Acquisition of capital assets
<br />Principal payments on revenue bonds
<br />Payments on short term account to acquire capital assets
<br />Proceeds of revenue bonds
<br />Withdrawal from escrow fund
<br />Payment to escrow agent for refunded bond
<br />Interest paid on revenue bonds
<br />Principal payments on promissory note
<br />NET CASH USED BY CAPITAL
<br />AND RELATED FINANCING ACTIVITIES
<br />CASH FLOWS FROM INVESTING ACTIVITIES
<br />Interest on investments
<br />NET INCREASE (DECREASE)
<br />IN CASH AND CASH EQUIVALENTS
<br />CASH AND CASH EQUIVALENTS, JANUARY 1
<br />CASH AND CASH EQUIVALENTS, DECEMBER 31
<br />4,394,357 1,086,937 5,481,294
<br />(540,636) (20,000) (560,636)
<br />27,100 2,932 30,032
<br />(513,536) (17,068) (530,604)
<br />(2,030,658) (954,311) (2,984,969)
<br />(320,000) (790,000) (1,110,000)
<br />(89,019) (49,287) (138,306)
<br />- 3,026,604 3,026,604
<br />- 37,939 37,939
<br />- (2,630,036) (2,630,036)
<br />(316,535) (250,744) (567,279)
<br />(177,060) - (177,060)
<br />(2,933,272) (1,609,835) (4,543,107)
<br />145,826 81,037 226,863
<br />1,093,375 (458,929) 634,446
<br />3,539,677 2,394,387 5,934,064
<br />$ 4,633,052 $ 1,935,458 $ 6,568,510
<br />The notes to the financial statements are an integral part of this statement.
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