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I <br />I <br />Exhibit F-12 <br />CITY OF ORONO, MINNESOTA <br />Golf Couree Operating Fund <br />Comparative Statement of Cash Flows <br />Years Ended December 31, 1995 and 1994 <br />1995 <br />Noncash operating items <br />1994 <br />Cash flows from operating activities <br />Operating income S 31,764 $ 47,822 <br />Adjustments to reconcile operating income to <br />net cash provided by operating activities <br />Depreciation 13,021 9,258 <br />Change in assets and liabilities <br />(Increase) decrease in <br />Inventory 1,310 (1.305) <br />Prepaid items 278 (1.228) <br />Increase (decrease) in <br />Compensated absences (21)418 <br />Accounts payable 1,285 (498) <br />Salaries payable 834 148 <br />Net cash provided by operating activities 48,471 54,615 <br />Cash flows from capital and related financing activities <br />Acquisition of capital assets (5,364)(29,258) <br />Cash flows from investing activities <br />Interest received on investments 5,967 3,804 <br />Net increase in cash and cash equivalents 49,074 29,161 <br />Cash and cash equivalents <br />Beginning of year 140,334 111,173 <br />End of year $ 189,408 $ 140,334 <br />During the year ended December 31, 1995, the City traded in equipment with an adjusted book value <br />of $1,020 <br />Equipment <br />Original price <br />Accumulated depreciation <br />Adjusted book value <br />Less trade-in value <br />1,700 <br />680 <br />1,020 <br />(1.020) <br />Loss on sale of equipment <br />1 <br />-95-