Comprehensive Annual Financial Report - Fiscal Year ended 6/30/2017

COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS For the Fiscal Year Ended June 30, 2017 Solid Waste Employees' Governmental Services Risk Health Equipment Equipment Management Benefits Replacement Replacement Fund Fund Fund Fund CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers 9,304,565 $ 43,644,001 $ 7,272,883 $ 5,033,800 $ Payments to employees (473,006) - - - Payments to suppliers and service providers (925,558) (3,733,033) (215,279) 9,637 Claims paid (12,590,857) (38,440,849) - - Premiums paid (1,521,955) - - - Other receipts 630,779 227,548 110,192 - Other payments - - (197,869) (34,104) Net cash provided by (used in) operating activities (5,576,032) 1,697,667 6,969,927 5,009,333 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Operating subsidies and transfers from other funds - 950,000 661,713 - Operating subsidies and transfers to other funds (5,290,000) - - - Internal activity - payments from (to) other funds (1,177) - 15,377 323,856 Gain on actuarial estimate 7,234,493 - - - Net cash provided by (used in) noncapital financing activities 1,943,316 950,000 677,090 323,856 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase and construction of capital assets - - (10,048,677) (4,454,161) Proceeds from capital debt - - 27,888,242 8,540,347 Principal paid on capital debt - - (5,800,937) (4,419,021) Interest paid on capital debt - - (191,645) (90,128) Proceeds from sale of capital assets - - 611,564 66,065 Net cash provided by (used in) capital and related financing activities - - 12,458,547 (356,898) CASH FLOWS FROM INVESTING ACTIVITIES Gain (loss) on investments held 1,500,674 27,862 16,045 4,425 Net cash provided by (used in) investing activities 1,500,674 27,862 16,045 4,425 Net increase (decrease) in cash and cash equivalents/investments (2,132,042) 2,675,529 20,121,609 4,980,716 Cash and cash equivalents/investments Beginning of year 40,465,746 6,564,391 6,793,086 2,093,896 End of year 38,333,704 $ 9,239,920 $ 26,914,695 $ 7,074,612 $ Reconciliation of operating income (loss) to net cash provided by (used in) operating activities: Operating income (loss) 889,105 $ 2,541,608 $ (456,773) $ 1,683,904 $ Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities: Depreciation expense - - 7,441,987 3,315,792 Miscellaneous nonoperating income 630,779 227,548 110,192 - Change in assets and liabilities: Sales tax receivable (2,653) (1,404) (118,423) 9,637 Inventories - - - - Other receivables and assets (410,699) (48,254) - - Accounts payable and other accrued liabilities (6,699,195) (1,021,831) (7,056) - (Increase) decrease in deferred outflows of resources - pensions (72,475) - - - Increase (decrease) in deferred inflows of resources - pensions (7,575) - - - Increase in pension liability 91,447 - - - Earned vacation pay and other payroll liabilities 5,234 - - - Total adjustments (6,465,137) (843,941) 7,426,700 3,325,429 Net cash provided by (used in) operating activities (5,576,032) $ 1,697,667 $ 6,969,927 $ 5,009,333 $ City of Raleigh _____________________________________________________________ Financial Section ____________________________________________________________ __________________________________________________________ 150 __________________________________________________________

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