 |
Bonita Springs Utilities — 2002
Financial Statements
|
 |
Statement of Cash Flow
December 31, 2002 and 2001
Bonita Springs Utilities, Inc.
Lee County, Florida
|
| |
|
|
| |
| |
2002 |
|
2001 |
|
|
| Cash Flows
From Operating Activities |
|
|
|
| Net Margins |
4,821,321 |
|
5,978,457 |
| Adjustments
to Reconcile Net Margins to |
|
|
|
| Net
Cash Provided By Operating Activities: |
|
|
|
| Depreciation |
6,755,601 |
|
5,688,131 |
| Amortization |
106,018 |
|
140,910 |
| Loss
on Sale of Fixed Assets |
1,387 |
|
- |
| Loss
on Refunding of Long-Term Debt |
- |
|
1,909,560 |
| (Increase)
Decrease in Accounts Receivable |
(21,125) |
|
(84,575) |
| (Increase)
Decrease in Inventory |
8,515 |
|
(23,991) |
| (Increase)
Decrease in Prepaid Expenses |
(36,475) |
|
30,518 |
| (Increase)
Decrease in Other Receivables |
(1,970) |
|
4,745 |
| (Increase)
Decrease in Interest Receivable |
(75,984) |
|
191,385 |
| Increase
(Decrease) in Interest Payable |
316,974 |
|
(101,700) |
Increase
(Decrease) in Accounts
and Retainage Payable |
870,730 |
|
(1,424,489) |
| Increase
(Decrease) in Customer Deposits |
107,795 |
|
179,104 |
Increase
(Decrease)
in Other Current Liabilities |
(26,309) |
|
199,020 |
|
|
| Net Cash
Provided By Operating Activities |
12,826,478 |
|
12,687,075 |
| |
| Cash Flows
From Investing Activities |
|
| Capital
Expenditures |
(18,485,172) |
|
(26,705,023) |
|
|
| |
| Cash Flows
From Financing Activities |
|
|
|
| Principal
Paid on Long-Term Debt |
(1,435,000) |
|
(1,370,000) |
| Principal
Paid on Installment Purchase Obligation |
(35,665) |
|
- |
| (Increase)
Decrease in Restricted Assets |
(23,884,813) |
|
8,410,064 |
| Proceeds
From Sale of Fixed Assets |
50,498 |
|
- |
| Draws, Line
of Credit |
2,000,000 |
|
- |
| Bond Proceeds,
Net |
29,915,213 |
|
- |
| Bond Issue
Costs |
(820,019) |
|
(4,775) |
Restricted
Cash Contributed to Refunding
(Net of Accrued Interest) |
- |
|
(2,433,755) |
|
|
| Net Cash
Provided By Financing Activities |
5,790,214 |
|
4,601,534 |
| |
Net (Decrease)
Increase in Cash
and Cash Equivalents |
131,520 |
|
(9,416,414) |
| |
| Cash and
Cash Equivalents, Beginning of Year |
10,248,420 |
|
19,664,834 |
| |
|
|
| Cash and
Cash Equivalents, End of Year |
10,379,940 |
|
10,248,420 |
|
|
| |
| Supplemental
Schedule of Noncash Activities |
|
| Contributed
Assets |
7,021,487 |
|
4,141,452 |
|
|
| Bond Issuance
Costs Reclassified to Plant |
- |
|
512,580 |
|
|
| Net New
Deferred Surcharges Receivable |
1,434,942 |
|
3,385,881 |
|
|
| Installment
Purchase Obligations |
85,598 |
|
- |
|
|
| Issuance
and Refunding of 2002A Bonds |
5,000,000 |
|
- |
|
|
| |
| Supplemental
Disclosures |
|
| Interest
Paid |
3,218,858 |
|
3,525,336 |
|
|
| Income Taxes
Paid |
- |
|
- |
|
|
| |
| |
|
| <-Back
to annual report |
|
|
|
|
|
|
