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<br /> Reconciliation of operating income to net cash provided by operating activities:
<br /> ' Totals
<br /> Internal (Memorandum Only)
<br /> Enterprise Service 1993
<br /> 1992
<br /> Operating income $ 1,023,208
<br /> $ 3,842,320 $ 4,865,528 $ 282,443
<br /> Adjustments to reconcile operating Income to net
<br /> cash provided by operating activities:
<br /> Depreciation expense 1,511,723 2,250,179 3,761,902
<br /> Change in assets and liabilities: 3,519,736
<br /> Decrease(increase)in customer accounts receivable (447,795) 51,920 395,875
<br /> Increase in accrued revenues receivable ( ) (666,685)
<br /> (1,947, 96) (1,947,862) (666,685)
<br /> Increase in due from other funds (1,196)
<br /> (1
<br /> 96) (1,l96)
<br /> Decrease(increase)in inventory of supplies 66
<br /> Increase in prepaid expenses ( ) (66) 51,858
<br /> (50,768) (50,768) (39,274)
<br /> Increase(decrease)in accounts payable 1,805,081 12,741 1,817,822
<br /> Increase(decrease)in accrued liabilities (66,261)
<br /> 24,328 (1,931,996) (1,907,668) 2,293,205
<br /> Increase(decrease)in due to other funds (107,715) (107,715) 107,342
<br /> Increase in customer refundable deposits 5,778 5,778
<br /> 26,413
<br /> Net cash provided by operating activities $ 1,973,265 $ 4,066,615
<br /> $ 6,039,880 $ 4,673,157
<br /> Noncaah investing,capital,and financing activities:
<br /> On May 18, 1992,the Water Enterprise Fund entered into a five-year lease purchase arrangement to fmance the construction of the Bristol
<br /> Reservoir expansion Phase I, in an amount not to exceed$5,962,000 which was placed in escrow by the lender. On April 19, 1993, the
<br /> Water Enterprise Fund refinanced the original lease purchase to take advantage of lower interest rates in the remaining four years. As of
<br /> June 30, 1993, releases to the contractor by the escrow agent totaled$3,160,722, which is the amount recognized as lease payable at the
<br /> close of the fiscal year. In the same period the Water Enterprise Fund has paid $1,057,128 applicable to the principal. In November 1992,
<br /> the City authorized a five-year lease purchase arrangement for the acquisition of an automated utility billing software in an amount not to
<br /> exceed$626,118. The Water Enterprise Fund is responsible for 80% of the cost, and its 80% share of the down payment was$111,562.
<br /> The Building Maintenance Internal Service Fund retired equipment with a book value of$9,732 and related accumulated depreciation of
<br /> $9,279, resulting in a noncash loss of$454.
<br /> The notes to the financial statements are an integral part of this statement.
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