| |
| |
|
2004 |
|
|
2003 |
|
|
| Cash Flows
From Operating Activities |
|
| Net Margins |
$ |
7,269,461 |
|
$ |
5,674,454 |
| Adjustments
to Reconcile Net Margins to |
|
|
|
|
|
| Net
Cash Provided By (Used in) Operating Activities: |
|
|
|
|
|
| Depreciation |
|
8,476,072 |
|
|
7,324,469 |
| Amortization |
|
175,152 |
|
|
141,790 |
| Loss
(Gain)on Sale of Fixed Assets |
|
— |
|
|
8,430 |
Changes in Assets - Decrease (Increase) and
Liabilities - Increase (Decrease): |
|
|
|
|
|
| Accounts Receivable |
|
(632,897) |
|
|
145,555 |
| Inventory |
|
(102,391) |
|
|
(53,625) |
| Prepaid Expenses |
|
(28,782) |
|
|
(75,576) |
| Other Receivables |
|
2,068 |
|
|
(2,699) |
| Interest Receivable |
|
12,617 |
|
|
(45,972) |
| Utility Deposits |
|
(116,465) |
|
|
12,000 |
| Interest Payable |
|
222,791 |
|
|
54,544 |
| Accounts and Retainage Payable |
|
(620,121) |
|
|
384,543 |
| Customer Deposits |
|
256,080 |
|
|
129,140 |
| Other Current Liabilities |
|
89,019 |
|
|
142,427 |
|
|
| Total Cash
Provided By (Used in) Operating Activities |
|
15,002,604 |
|
|
13,839,480 |
| |
| Cash Flows
From Investing Activities |
|
|
| Capital
Expenditures |
|
(21,777,103) |
|
|
(46,687,779) |
|
|
|
| Cash Flows
From Financing Activities |
|
|
|
|
|
| Principal
Paid on Long-Term Debt |
|
(22,580,000) |
|
|
(1,505,000) |
| Principal
Paid on Installment Purchase Obligation |
|
(7,133) |
|
|
(35,666) |
| Decrease (Increase) in Restricted Assets |
|
(18,819,610) |
|
|
2,694,742 |
| Proceeds
From Sale of Fixed Assets |
|
27,389 |
|
|
66,377 |
| Draws, Line
of Credit |
|
— |
|
|
19,000,000 |
| Bond Proceeds,
Net |
|
57,147,334 |
|
|
16,795,140 |
| Bond Issue
Costs |
|
(1,291,652) |
|
|
(582,458) |
|
|
| Net Cash
Provided By (Used in) Financing Activities |
|
14,476,328 |
|
|
36,433,135 |
| |
| Net
Increase (Decrease) in Cash
and Cash Equivalents |
|
7,701,829 |
|
|
3,584,836 |
| |
| Cash and
Cash Equivalents, Beginning of Year |
|
13,964,776 |
|
|
10,379,940 |
| |
|
|
| Cash and
Cash Equivalents, End of Year |
$ |
21,666,605 |
|
$ |
13,964,776 |
|
|
|
|
|
|
| |
| Supplemental Schedule of Noncash Activities |
| Contributed
Assets |
$ |
7,293,410 |
|
$ |
4,766,094 |
|
|
|
|
|
|
| Net New
Deferred Surcharges Receivable |
$ |
440,302 |
|
|
(322,878) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Supplemental
Disclosures |
|
|
| Interest
Paid |
$ |
5,754,418 |
|
$ |
4,597,049 |
|
|
|
|
|
|
| Income Taxes
Paid |
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
| |
| |
|
|
| <-Back
to annual report |
|
|
|
