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<br />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, 2004
<br />
<br /> Govemm ental
<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 16,055,965 10,914,457 410,995 5,180,155 32,561,572 11,967,531
<br />Cash payments to suppliers for goods and service~ (10,382,915) (7,030,081) (135,513) (1,786,916) (19,335,425) (6,616,140)
<br />Cash payments to employees for service~ (3,511,618) (1,715,573) (144,432) (912,470) (6,284,093) (5,776,006)
<br />Right of way compensation (1,264,292) (920,833) (42,703) (2,227,828)
<br />Net cash provided by operating activities 897,140 1,247,970 88,347 2,480,769 4,714,226 (424,615)
<br />Cash flows from noncapital financing activities:
<br />Insurance recovery 49,892
<br />Property taxes 26,095 26,095
<br />Transfers in 1,450,000
<br />Transfers out (1,515,695)
<br />Net cash provided by noncapital financing activities 26,095 26,095 (15,803)
<br />Cash flows from capital and related financing activities:
<br />Acquisition and construction of capital assets (1,637,270) (638,034) (861,403) (3,136,707) (289,158)
<br />Legal settlemen1 231,730 231,730
<br />Principal retirements (211,274) (211,274)
<br />Interest paid (74,853) (18,538) (565,139) (658,530)
<br />Contributions 216,870 216,870
<br />Unamortized issuance cost 3,380 3,380
<br />Proceeds from sale of equipmen1 2,068 2,068 77,477
<br />Net cash used for capital and related financing activities (1,712,123) (638,034) (18,538) (1,183,768) (3,552,463) (211,681)
<br />Cash flows from investing activities:
<br />Interest and dividends on investment 378,183 108,377 23,093 103,241 612,894 427,848
<br />Net increase (decrease) in fair value of investments (258,382) (97,771) (20,833) (20,596) (397,582) (358,382)
<br />Net cash used in investing activities 119,801 10,606 2,260 82,645 215,312 69,466
<br />Net increase (decrease) in cash and cash equivalents (695,182) 620,542 98,164 1,379,646 1,403,170 (582,633)
<br />Cash and cash equivalents at beginning of year 10,297,679 2,918,221 758,908 10,062,659 24,037,467 13,919,501
<br />Cash and cash equivalents at end of year 9,602,497 3,538,763 857,072 11,442,305 25,440,637 13,336,868
<br />
<br />Reconciliation of Net Cash Flow from Operating Activities
<br />Operating income (loss) (345,387) (563,129) (17,539) 2,073,866 1,147,811 (1,298,402)
<br />Adjustments to reconcile operating income to net cash
<br />provided by operating activities:
<br />Depreciation 946,954 397,313 97,360 506,322 1,947,949 737,223
<br />Change in assets and liabilities:
<br />Decrease (increase) in accounts receivable (296,911) 691,253 (1,526) (138,238) 254,578 (14,480)
<br />Decrease (increase) in due from other governmental agencies 526
<br />Decrease ( increase) in inventory/prepaid expenses/ deposit~ 128,990 23,796 152,786 (6,075)
<br />Increase (decrease) in vacation & sick leave payable 11,202 10,662 3,360 20,672 45,896 38,473
<br />Increase (decrease) in accounts payable 418,038 711,871 5,888 (77,554) 1,058,243 778
<br />Increase (decrease) in customer deposits 34,254 804 95,239 130,297
<br />Increase in deferred revenue (23,334) (23,334)
<br />Increase in insurance claims payable 117,342
<br />Total Adjustments 1,242,527 1,811,099 105,886 406,903 3,566,415 873,787
<br />Net cash provided by operating activities 897,140 1,247,970 88,347 2,480,769 4,714,226 (424,615)
<br />
<br />See accompanying notes to financial statement~
<br />
<br />Non-cash financing activity: During the fiscal year the Water Utility Fund transferred $24,389 and the Sewer Utility Fund transferred $15,147 in fixed assets to
<br />governmental funds.
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