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City of Muskegon
Proprietary Funds
STATEMENT OF CASH FLOWS
Year Ended December 31, 2003
Business-Type Activities Governmental
Enterprise Funds Activities
Marina and
Sewer Water Launch Ramp Total Internal Service
Cash flows from operating activities
Receipts from customers $ 4,101,473
$ 4,011,422
311,600
$ $ 8,424,495
251,861
$
Receipts for internal services provided -
-
-
- 5,878,085
Payments to suppliers (1,559,605)
(1,365,315)
(204,389)
(3,129,309)
(5,198,059)
Payments to employees (519,839)
(1,370,028)
(103,753)
(1,993,620)
(883,740)
Payments to internal service funds (515,411)
(782,118)
(24,440)
(1,321,969)
(368,641)
Net cash provided by (used for) operating activities 1,506,618
493,961
(20,982)
1,979,597
(320,494)
Cash flows from noncapital financing activities
Cash deficit -
-
(111,547)
(111,547)
-
Transfers in -
-
-
- 1,179,938
Net cash provided by (used for) noncapital financing
activities -
-
(111,547)
(111,547)
1,179,938
Cash flows from capital and related financing activities
State grants -
-
256,612
256,612
-
Acquistion and construction of capital assets (1,106,572)
(994,987)
(124,083)
(2,225,642)
(501,804)
Proceeds from sale of capital assets -
504,500
-
504,500
23,401
Principal paid on bonds (1,151,091)
(405,000)
-
(1,556,091)
-
Interest paid on bonds (132,214)
(417,559)
-
(549,773)
-
Net cash provided by (used for) capital and related
financing activities (2,389,877)
(1,313,046)
132,529
(3,570,394)
(478,403)
Cash flows from investing activities
Interest and dividends on investments 19,739
51,889
-
71,628
26,476
Collections on contract receivable 677,897
-
-
677,897
-
Net cash provided by investing activities 697,636
51,889
-
749,525
26,476
Net increase (decrease) in cash and cash
equivalents (185,623)
(767,196)
-
(952,819)
407,517
Cash and cash equivalents at beginning of year 1,231,951
4,189,460
-
5,421,411
1,643,365
Cash and cash equivalents at end of year $ 1,046,328
$ 3,422,264
-
$ $ 4,468,592
2,050,882
$
Reconciliation of cash and cash equivalents to the
balance sheet
Cash and cash equivalents $ 1,046,328
$ 2,599,705
-
$ $ 3,646,033
2,050,882
$
Restricted cash and cash equivalents -
822,559
-
822,559
-
$ 1,046,328
$ 3,422,264
-
$ $ 4,468,592
2,050,882
$
Reconciliation of operating income (loss) to net cash
provided by (used for) operating activities
Operating income (loss) $ 740,458
$ (24,034)
(52,835)
$ $ 663,589
$ (787,207)
Adjustments to reconcile operating income (loss) to net
cash provided by (used for) operating activities
Depreciation and amortization 667,831
615,470
61,308
1,344,609
704,264
Bad debt 6,865
5,682
-
12,547
-
(Increase) decrease in
Accounts receivable 43,730
(79,169)
37,342
1,903
(97,333)
Due from other governmental units -
(40,535)
-
(40,535)
-
Inventories (10,078)
(13,903)
-
(23,981)
(3,985)
Prepaid items (1,694)
(1,587)
(75)
(3,356)
(4,092)
Increase (decrease) in
Accounts payable 13,139
13,593
(67,224)
(40,492)
(132,799)
Accrued payroll (937)
9,601
268
8,932
3,267
Due to other funds -
-
-
- (1,018)
Due to other governmental units 52,952
-
-
52,952
-
Compensated absences payable (5,648)
8,843
234
3,429
(1,591)
Net cash provided by (used for) operating activities $ 1,506,618
$ 493,961
(20,982)
$ $ 1,979,597
$ (320,494)
The accompanying notes are an integral part of this statement.