June 30, 2006
(With Accountants' Report Thereon)
Devens Enterprise Commission
| Statement of Cash Flows Proprietary Fund For the Year Ended June 30, 2006 | |
| Cash Flows from Operating Activities: | |
| Receipts from Customers and MassDevelopment | $252,630 |
| Payments to Employees | (138,190) |
| Payments to Vendors | (125,054) |
| Net Cash Flows Provided (Used) by Operating Activities | (10,614) |
| 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: | |
| Net Cash Flows Provided (Used) by Capital Related Financing Activities: | |
| Cash Flows from Investing Activities: | |
| Earnings on Investments | 6,977 |
| Net Cash Flows Provided (Used) by Investing Activities | 6,977 |
| Net Increase (Decrease) in Cash and Cash Equivalents | (3,637) |
| Cash and Cash Equivalents, July 1, 2005 | 313,542 |
| Cash and Cash Equivalents, June 30, 2006 | 309,905 |
| Reconciliation of Operating Income to Net Cash Provided (Used) by Cash Flows from Operating Activities: | |
| Cash Flows from Operating Activities: | |
| Operating Income (Loss) | ($10,513) |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |
| Depreciation Expense | 3,732 |
| Decrease (Increase) in Accounts Receivable | 9,880 |
| Decrease (Increase) in Prepaid Expenses | 851 |
| Increase (Decrease) in Deferred Revenue | (19,013) |
| Increase (Decrease) in Compensated Absences and Wages Payable | 3,979 |
| Increase (Decrease) in Accounts and Wages Payable | 470 |
| Net Cash Flows from Operating Activities | $(10,614) |