June 30, 2005
(With Accountants' Report Thereon)
Devens Enterprise Commission
| Statement of Cash Flows Proprietary Fund For the Year Ended June 30, 2005 | |
| Cash Flows from Operating Activities: | |
| Receipts from Customers and MassDevelopment | $285,391 |
| Payments to Employees | (133,187) |
| Payments to Vendors | (163,873) |
| Net Cash Flows Provided (Used) by Operating Activities | (11,669) |
| Cash Flows from Non Capital Related Financing Activities: | |
| Net Cash Flows Provided (Used) by Non Capital Related Financing Activities: | - |
| Cash Flows from Capital and Related Financing Activities: | |
| Acquisition of Capital Assets | (7,200) |
| Net Cash Flows Provided (Used) by Capital Related Financing Activities: | (7,200) |
| Cash Flows from Investing Activities: | |
| Earnings on Investments | 4,974 |
| Net Cash Flows Provided (Used) by Investing Activities | 4,974 |
| Net Increase (Decrease) in Cash and Cash Equivalents | (13,895) |
| Cash and Cash Equivalents, July 1, 2004 | 327,437 |
| Cash and Cash Equivalents, June 30, 2005 | 313,542 |
| Reconciliation of Operating Income to Net Cash Provided (Used) by Cash Flows from Operating Activities: | |
| Cash Flows from Operating Activities: | |
| Operating Income (Loss) | ($51,756) |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |
| Depreciation Expense | 3,045 |
| Decrease (Increase) in Accounts Receivable | 31,985 |
| Decrease (Increase) in Prepaid Expenses | (288) |
| Increase (Decrease) in Deferred Revenue | 2,304 |
| Increase (Decrease) in Accrued Expenses | 1,324 |
| Increase (Decrease) in Accounts Payable | 1,717 |
| Net Cash Flows from Operating Activities | $(11,669) |