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CITY OF REDWOOD CITY,CALIFORNIA
<br /> PROPRIETARY FUNDS
<br /> COMBINING STATEMENT OF CASH FLOWS
<br /> INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS
<br /> FOR THE FISCAL YEAR ENDED JUNE 30,2007
<br /> Governmental
<br /> Water Sewer Activities-
<br /> Utility Utility Parking Port of Internal Service
<br /> Fund Fund Fund Redwood City Totals Funds
<br /> Cash flows from operating activities: $ $ $ $ $ $
<br /> Cash received from customers 20,571,163 15,030,861 842,197 6,017,979 42,462,200 15,318,583
<br /> Cash payments to suppliers for goods and services (11,835,276) (11,825,317) (782,390) (1,235,202) (25,678,185) (6,486,394)
<br /> Cash payments to employees for services (4,099,994) (2,138,496) (714,226) (1,173,594) (8,126,310) (6,696,615)
<br /> Right of way compensation (1,925,550) (1,178,334) (40,732) (3,144,616)
<br /> Net cash provided by operating activities 2,710,343 (111,286) (695,151) 3,609,183 5,513,089 2,135,574
<br /> Cash flows from noncapital financing activities:
<br /> Insurance recovery 230,215 230,215
<br /> Property taxes 60,688 60,688
<br /> Transfers in 350,000 350,000 1,100,000
<br /> Transfers out (33,209)
<br /> Advances from other funds 2,500,000 2,500,000
<br /> Advances to other funds (2,500,000) (2,500,000)
<br /> Net cash provided by noncapital financing activities (2,500,000) 2,500,000 410,688 230,215 640,903 1,066,791
<br /> Cash flows from capital and related financing activities:
<br /> Acquisition and construction of capital assets (16,719,137) (777,518) (434,977) (3,644,440) (21,576,072) (890,782)
<br /> Advances to South Bayside System Authority (7,781,434) (7,781,434)
<br /> Principal retirements (1,325,000) (239,292) (1,564,292)
<br /> Interest paid (2,391,641) (68,224) (535,231) (2,995,096)
<br /> Contributions 154,120 154,120
<br /> Proceeds from sale of equipment 76,169
<br /> Bond proceeds 15,043,591 15,043,591
<br /> Payments for costs of issuance (153,902) (153,902)
<br /> Net cash used for capital and related financing activities (13,327,523) (777,518) (503,201) (4,264,843) (18,873,085) (814,613)
<br /> Cash flows from investing activities:
<br /> Interest and dividends on investment 1,817,071 15,932 24,724 693,312 2,551,039 795,525
<br /> Net increase(decrease)in cash and cash equivalents (11,300,109) 1,627,128 (762,940) 267,867 (10,168,054) 3,183,277
<br /> Cash and cash equivalents at beginning of year 56,262,948 1,320,610 1,073,780 14,469,551 73,126,889 14,438,555
<br /> Cash and cash equivalents at end of year 44,962,839 2,947,738 310,840 14,737,418 62,958,835 17,621,832
<br /> Reconciliation of Net Cash Flow from Operating Activities
<br /> Operating income(loss) 2,616,397 (1,242,543) (863,492) 2,012,093 2,522,455 660,554
<br /> Adjustments to reconcile operating income to net cash
<br /> provided by operating activities:
<br /> Depreciation 974,785 426,219 126,848 673,760 2,201,612 849,435
<br /> Change in assets and liabilities:
<br /> Decrease(increase)in accounts receivable (308,522) (123,408) (24,331) 363,120 (93,141) 8,845
<br /> Decrease(increase)in due from other governmental agencies 108,223 4,200 112,423 (12,340)
<br /> Decrease(increase)in inventory/prepaid expenses/deposil (39,797) 37,015 31,058 28,276 (497,673)
<br /> Increase(decrease)in vacation&sick leave payable (9,904) (23,440) 30,931 5,044 2,631 (110,331)
<br /> Increase(decrease)in accounts payable (647,431) 706,648 29,120 366,019 454,356 534,292
<br /> Increase(decrease)in customer deposits 124,815 1,573 25,714 152,102
<br /> Increase(decrease)in unearned revenue 132,375 132,375 (53,826)
<br /> Increase(decrease)in insurance claims payable 756,618
<br /> Total adjustments 93,946 1,131,257 168,341 1,597,090 2,990,634 1,475,020
<br /> Net cash provided by operating activities 2,710,343 (111,286) (695,151) 3,609,183 5,513,089 2,135,574
<br /> See accompanying notes to financial statements
<br /> Non-cash financing activity:
<br /> During the fiscal year the sewer utility fund collected from developers and remitted to South Bayside System Authority$59,296 in stage II capacity fees.
<br /> During the fiscal year the equipment services fund received$24,967 and the internal services fund received$131,782 in contributed capital assets which consisted
<br /> of new equipment purchased by governmental funds.
<br /> During the fiscal year the water utility fund transferred$6,862 in capital assets to the internal services fund.
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