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Exhibit F-12 <br />CITY OFORONO, MINNESOTA <br />Golf Course Operating Fund <br />Comparative Statement of Cash Flows <br />Years Ended December 31, 1998 and 1997 <br />1998 1997 <br />Cash flows from operating activities <br />Operating income $ 42,855 $ 54,028 <br />Adjustments to reconcile operating income to <br />net cash provided by op .rating activities <br />Depreciation 15,408 11,931 <br />Change in assets and liabilities <br />(Increase) decrease in <br />Accounts receivable (580)(25) <br />Due from other governments —193 <br />Inventory-345 (142) <br />Increase (decrease)in <br />Accounts payable (7,067)5,907 <br />Salaries and compensated absences payable 520 823 <br />Net cash provided by operating activities 51,481 72,715 <br />Cash flows from capital and related financing activities <br />Acquisition of capital assets (25,349)(104,680) <br />Cash flpws from investing activities <br />Interest received on investments 14,976 15,784 <br />Net increase (decrease) in cash and cash equivalents 41,108 (16,181) <br />Cash and cash equivalents <br />Beginning of year 224,816 240,997 <br />End of year $ 265.924 S 224.816 <br />I <br />I <br />I <br />- j <br />-89-