| |
| |
|
2003 |
|
|
2002 |
|
|
| Cash Flows
From Operating Activities |
|
| Net Margins |
$ |
5,674,454 |
|
$ |
4,821,321 |
| Adjustments
to Reconcile Net Margins to |
|
|
|
|
|
| Net
Cash Provided By (Used in) Operating Activities: |
|
|
|
|
|
| Depreciation |
|
7,324,469 |
|
|
6,755,601 |
| Amortization |
|
141,790 |
|
|
106,018 |
| Loss
(Gain)on Sale of Fixed Assets |
|
8,430 |
|
|
1,387 |
Changes in Assets - Decrease (Increase) and
Liabilities - Increase (Decrease): |
|
— |
|
|
— |
| Accounts Receivable |
|
145,555 |
|
|
(21,125) |
| Inventory |
|
(53,625) |
|
|
8,515 |
| Prepaid Expenses |
|
(75,576) |
|
|
(36,475) |
| Other Receivables |
|
(2,699) |
|
|
(1,970) |
| Interest Receivable |
|
(45,972) |
|
|
(75,984) |
| Utility Deposits |
|
12,000 |
|
|
— |
| Interest Payable |
|
54,544 |
|
|
316,974 |
| Accounts and Retainage Payable |
|
384,543 |
|
|
870,730 |
| Customer Deposits |
|
129,140 |
|
|
107,795 |
| Other Current Liabilities |
|
142,427 |
|
|
(26,309) |
|
|
| Total Cash
Provided By (Used in) Operating Activities |
|
13,839,480 |
|
|
12,826,478 |
| |
| Cash Flows
From Investing Activities |
|
|
| Capital
Expenditures |
|
(46,687,779) |
|
|
(18,485,172) |
|
|
|
| Cash Flows
From Financing Activities |
|
|
|
|
|
| Principal
Paid on Long-Term Debt |
|
(1,505,000) |
|
|
(1,435,000) |
| Principal
Paid on Installment Purchase Obligation |
|
(35,666) |
|
|
(35,665) |
| Decrease (Increase) in Restricted Assets |
|
2,694,742 |
|
|
(23,884,813) |
| Proceeds
From Sale of Fixed Assets |
|
66,377 |
|
|
50,498 |
| Draws, Line
of Credit |
|
19,000,000 |
|
|
2,000,000 |
| Bond Proceeds,
Net |
|
16,795,140 |
|
|
29,915,213 |
| Bond Issue
Costs |
|
(582,458) |
|
|
(820,019) |
|
|
| Net Cash
Provided By (Used in) Financing Activities |
|
36,433,135 |
|
|
5,790,214 |
| |
| Net (Decrease)
Increase in Cash
and Cash Equivalents |
|
3,584,836 |
|
|
131,520 |
| |
| Cash and
Cash Equivalents, Beginning of Year |
|
10,379,940 |
|
|
10,248,420 |
| |
|
|
| Cash and
Cash Equivalents, End of Year |
$ |
13,964,776 |
|
$ |
10,379,940 |
|
|
|
|
|
|
| |
| Supplemental Schedule of Noncash Activities |
| Contributed
Assets |
$ |
4,766,094 |
|
$ |
7,021,487 |
|
|
|
|
|
|
| Net New
Deferred Surcharges Receivable |
$ |
(322,878) |
|
|
1,434,942 |
|
|
|
|
|
|
| Installment
Purchase |
$ |
— |
|
$ |
85,598 |
|
|
|
|
|
|
| Issuance
and Refunding of 2002A Bonds |
$ |
— |
|
$ |
5,000,000 |
|
|
|
|
|
|
| |
| Supplemental
Disclosures |
|
|
| Interest
Paid |
$ |
4,597,049 |
|
$ |
3,218,858 |
|
|
|
|
|
|
| Income Taxes
Paid |
$ |
— |
|
$ |
— |
|
|
|
|
|
|
| |
| |
|
|
| <-Back
to annual report |
|
|
|
