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19

City of Raleigh

Financial Section

STATEMENT OF CASH FLOWS

PROPRIETARY FUNDS

For the fiscal year ended June 30, 2016

Solid Waste

Internal

Parking

Services

Service

Fund

Fund

Total

Funds

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from customers

14,605,387

$

25,437,908

$

305,170,642

$

74,069,594

$

Payments to employees

(1,841,413)

(11,673,873)

(68,472,431)

(4,705,394)

Payments to suppliers and service providers

(5,268,976)

(19,311,300)

(126,314,022)

(12,117,288)

Claims paid

-

-

-

(42,768,706)

Premiums paid

-

-

-

(1,611,462)

Other receipts

29,074

55,585

1,054,973

388,924

Other payments

-

-

(1,224,881)

(273,257)

Net cash provided by (used in) operating activities

7,524,072

(5,491,680)

110,214,281

12,982,411

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES

Operating subsidies and transfers from other funds

517,440

10,003,868

53,830,082

154,200

Operating subsidies and transfers to other funds

(159,719)

(210,442)

(2,758,529)

(573,953)

Operating grants received

-

-

2,627,581

-

Other expenditures

-

-

-

Internal activity - payments from (to) other funds

-

-

502,791

(13,729)

Net cash provided by (used in) noncapital financing activities

357,721

9,793,426

54,201,925

(433,482)

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES

Purchase and construction of capital assets

(3,681,568)

(55,716)

(85,102,306)

(14,689,895)

Capital grants and other capital contributions

-

-

11,390,831

-

Proceeds from capital debt

13,200,000

5,607,384

100,288,366

-

Intergovernmental proceeds for capital debt

-

521,513

521,513

-

Principal paid on capital debt

(17,135,114)

(6,912,090)

(113,822,827)

(15,690,957)

Interest paid on capital debt

(1,811,964)

(697,787)

(32,858,829)

(535,050)

Other debt related payments

-

-

(2,417,249)

-

Proceeds from the sale of capital assets

738,632

19,895

1,373,666

954,583

Escrow deposits

-

-

1,321,176

-

Net cash provided by (used in) capital and related

-

financing activities

(8,690,014)

(1,516,801)

(119,305,659)

(29,961,319)

CASH FLOWS FROM INVESTING ACTIVITIES

Gain (loss) on investments held

72,685

-

3,244,320

315,669

Net cash provided by investing activities

72,685

-

3,244,320

315,669

Net increase (decrease) in cash and cash equivalents

(735,536)

2,784,945

48,354,867

(17,096,721)

Cash and cash equivalents - beginning of year

8,223,621

5,057,375

365,117,697

82,925,608

Cash and cash equivalents - end of year

7,488,085

$

7,842,320

$

413,472,564

$

65,828,887

$

RECONCILIATION OF OPERATING INCOME (LOSS)

TO NET CASH PROVIDED (USED)

BY OPERATING ACTIVITIES

Operating income (loss)

4,196,991

$

(7,356,772)

$

57,044,982

$

(3,046,562)

$

Adjustments to reconcile operating income (loss)

to net cash provided by (used in) operating activities:

Depreciation expense

3,624,330

759,525

53,265,081

11,769,441

Miscellaneous nonoperating income

-

-

600,130

235,438

Miscellaneous nonoperating expense

-

-

(1,224,881)

-

Change in assets and liabilities:

Operating receivables

(274,890)

30,434

(599,944)

-

Sales tax receivable

17,893

(41,305)

28,001

108,446

Inventories

-

-

(242,854)

84,914

Other receivables and assets

(452)

(99,670)

(851,662)

-

Accounts payable and other accrued liabilities

(21,143)

424,652

1,559,577

3,829,412

Landfill postclosure liability

-

824,418

824,418

-

Decrease in pension asset

205,191

1,101,550

5,718,342

448,180

(Increase) decrease in deferred outflows of resources - pensions

32,438

173,001

896,614

69,034

Increase (decrease) in deferred inflows of resources - pensions

(415,595)

(2,216,505)

(11,487,463)

(884,470)

Increase in pension liability

157,482

832,702

4,306,294

323,661

Escrow and other deposits

-

-

79,644

-

Earned vacation pay and other payroll liabilities

1,827

76,290

356,209

44,917

Unearned revenue

-

-

(58,207)

-

Total adjustments

3,327,081

1,865,092

53,169,299

16,028,973

Net cash provided by (used in) operating activities

7,524,072

$

(5,491,680)

$

110,214,281

$

12,982,411

$

Noncash investing, capital, and financing activities:

Capital contributions from annexations and mergers

-

$

-

$

1,278,008

$

-

$

Capital contributions from grant and assessment receivables

-

$

-

$

(1,511,629)

$

-

$

Acquisition and construction of capital assets

-

$

-

$

6,779,370

$

-

$

The notes to the financial statements are an integral part of this statement.

Enterprise Funds