Victoria Airport Authority Annual Report 2012
Victoria Airport Authority Annual Report 2012
Victoria Airport Authority Annual Report 2012
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VAA STATEMENT OF CASH FLOWS<br />
Year ended December 31, <strong>2012</strong>, with comparative information for 2011<br />
<strong>2012</strong> 2011<br />
Cash provided by (used in):<br />
Operations:<br />
Excess of revenue over expenses $5,797,412 $4,171,606<br />
Amortization, which does not involve cash 4,894,259 4,411,646<br />
Gain on the disposal of tangible capital assets<br />
Changes in non-cash operating working capital:<br />
(3,478) (38,988)<br />
Accounts receivable (69,868) (29,475)<br />
Inventory 13,861 (32,445)<br />
Prepaid expenses 6,739 289,478<br />
Accounts payable and accrued liabilities 359,175 437,237<br />
Deferred revenue 90,730 53,204<br />
Retirement allowance liability (7,071) (45,566)<br />
Future rent payments (22,482) (22,481)<br />
Security deposits 14,875 200<br />
Investing:<br />
11,074,152 9,194,416<br />
Purchase of tangible capital assets (6,038,591) (9,803,884)<br />
Proceeds from the sale of tangible capital assets 4,053 74,521<br />
(6,034,538) (9,729,363)<br />
Financing:<br />
Repayment of long-term debt (1,800,000) (1,800,000)<br />
Increase (decrease) in cash 3,239,614 (2,334,947)<br />
Cash and cash equivalents, beginning of year 3,967,893 6,302,840<br />
Cash and cash equivalents, end of year $7,207,507 $3,967,893<br />
See accompanying notes to financial statements .<br />
<strong>2012</strong> ANNUAL REPORT |<br />
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