|
|
2006 |
2005 |
|
Cash Flows from Operating Activities |
|
|
|
Net Margins |
$12,540,712 |
$12,104,773 |
Adjustments to Reconcile Net Margins to
Net Cash Provided by
(Used in) Operating Activities: |
|
Depreciation |
9,288,649 |
8,529,289 |
|
Amortization |
216,768 |
210,669 |
|
Loss on Refunding |
785,202 |
0 |
|
Gain on Sale of Fixed Assets |
(1,334,733) |
(70,570) |
|
Changes in Assets - Decrease (Increase)
and
Liabilities - Increase (Decrease): |
|
Accounts Receivable |
(311,702) |
(381,129) |
|
Inventory |
(114,715) |
27,352 |
|
Prepaid Expenses |
(116,441) |
7,618 |
|
Other Receivables |
7,737 |
(8,839) |
|
Interest Receivable |
(79,864) |
62,264 |
|
Utility Deposits |
(120,000) |
(365) |
|
Interest Payable |
109,116 |
(22,131) |
|
Accounts and Retainage Payable |
2,013,393 |
2,040,301 |
|
Customer Deposits |
152,540 |
348,876 |
|
Other Current Liabilities |
74,577 |
(114,287) |
|
Total Cash Provided by Operating
Activities |
23,111,239 |
22,733,821 |
|
|
|
|
|
Cash Flows from Investing Activities |
|
|
|
Capital Expenditures |
(42,075,413) |
(29,763,346) |
|
|
|
|
|
Cash Flows from Financing Activities |
|
|
|
Principal Paid on Long-term Debt |
(4,100,000) |
(2,610,000) |
|
Decrease in Restricted Assets |
13,334,731 |
20,313,002 |
|
Proceeds from Sale of Fixed Assets |
1,499,600 |
107,163 |
|
Draws on Line of Credit |
13,090,802 |
0 |
|
Bond Proceeds, Net |
23,252,762 |
0 |
|
Bond Issue Costs |
(563,420) |
0 |
|
Current Refunding |
(23,487,550) |
0 |
|
Net Cash Provided by Financing
Activities |
23,026,925 |
17,810,165 |
|
|
|
|
|
Net Increase in Cash and Cash
Equivalents |
4,062,751 |
10,780,640 |
|
|
|
|
|
Cash and Cash Equivalents, Beginning of
Year |
32,447,245 |
21,666,605 |
|
|
|
|
|
Cash and Cash Equivalents, End of Year |
$36,509,996 |
$32,447,245 |
|
|
|
|
|
Supplemental Schedule of Noncash
Activities |
|
|
|
Contributed Assets |
$9,963,772 |
$6,205,495 |
|
Net New Deferred Surcharges Receivable |
$(968,136) |
$(329,876) |
|
|
|
|
|
Supplemental Disclosures |
|
|
|
Interest Paid |
$7,432,271 |
$7,196,264 |
|
Income Taxes Paid |
$0 |
$0 |
|
| |
|
|
|
