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<br />CITY OF REDWOOD CITY, CALIFORNIA
<br />INTERNAL SERVICE FUNDS
<br />COMBINING STATEMENT OF CASH FLOWS
<br />INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
<br />FOR THE FISCAL YEAR ENDED JUNE 30, 2004
<br />
<br /> Equipment Self Internal Employee
<br /> Services Insurance Services Benefits
<br /> Fund Fund Fund Fund Total
<br /> $ $ $ $ $
<br />Cash flows from operating activities:
<br />Cash received from customers 2,560,324 1,912,279 6,690,525 804,403 11,967,531
<br />Cash payments to suppliers for goods and services (1,002,069) (3,131,029) (1,671,159) (811,883) (6,616,140)
<br />Cash payments to employees for services (742,279) (262,981) (4,770,746) (5,776,006)
<br />Net cash provided by operating activities 815,976 (1,481,731) 248,620 (7,480) (424,615)
<br />Cash flows from noncapital financing activities
<br />Insurance recovery 582 49,310 49,892
<br />Transfers in 1,450,000 1,450,000
<br />Transfers out (1,515,695) (1,515,695)
<br />Net cash used in non-capital financing activities 582 1,499,310 (1,515,695) (15,803)
<br />Cash flows from capital and related financing activities:
<br />Acquisition and construction of capital assets (220,950) (68,208) (289,158)
<br />Proceeds from sale of equipment 77,477 77,477
<br />Net cash used for capital and related financing activities (143,473) (68,208) (211,681)
<br />Cash flows from investing activities:
<br />Interest and dividends on investment 176,952 176,223 58,228 16,445 427,848
<br />Net increase (decrease) in fair value of investments (159,636) (145,179) (38,731) (14,836) (358,382)
<br />Net cash used in investing activities 17,316 31,044 19,497 1,609 69,466
<br />Net increase (decrease) in cash and cash equivalents 690,401 48,623 (1,315,786) (5,871) (582,633)
<br />Cash and cash equivalents at beginning of year 5,629,503 6,429,768 1,328,335 531,895 13,919,501
<br />Cash and cash equivalents at end of year 6,319,904 6,478,391 12,549 526,024 13,336,868
<br />
<br />Reconciliation of Net Cash Flow from Operating Activities
<br />
<br />Operating income (loss) 214,741 (1,646,748) 173,719 (40,114) (1,298,402)
<br />Adjustments to reconcile operating income (loss) to
<br />net cash provided by operating activities:
<br />Depreciation 703,777 33,446 737,223
<br />Change in assets and liabilities:
<br />Increase in insurance claims payable 117,342 117,342
<br />Decrease (increase) in accounts receivable (3,567) 61 (10,974) (14,480)
<br />Decrease (increase) in due from other governmental agencies 526 526
<br />Decrease (increase) in inventory/prepaid expense (6,075) (6,075)
<br />Increase (decrease) in vacation & sick leave payable (11,408) 49,881 38,473
<br />Increase (decrease) in accounts payable (81,492) 47,088 2,548 32,634 778
<br />Total Adjustments 601,235 165,017 74,901 32,634 873,787
<br />Net cash provided by operating activities 815,976 (1,481,731) 248,620 (7,480) (424,615)
<br />
<br />Non-cash financing activity: During the fiscal year the internal services fund received $96,301
<br />in contributed fixed assets which consisted of new equipment purchased by governmental funds.
<br />
<br />88
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