Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Statement of Cash Flows
Proprietary Funds
For the fiscal year ended June 30, 2008
31
Total
Nonmajor Total internal
Big Blue enterprise enterprise service
Wastewater Bus funds funds funds
Cash flows from operating activities:
Cash received from customers $ 12,691,662 13,898,980 48,358,178 74,948,820 32,725,591
Cash payments for materials and services (7,217,539) (15,016,747) (29,404,586) (51,638,872) (15,808,509)
Cash paid for claims and related services — — — — (8,103,948)
Cash payments to employees for services (3,700,011) (34,067,681) (17,881,058) (55,648,750) (3,721,367)
Other revenue received 371,116 1,747,873 1,276,973 3,395,962 656
Net cash provided by operating activities 2,145,228 (33,437,575) 2,349,507 (28,942,840) 5,092,423
Cash flows from noncapital financing activities:
Sales tax proceeds — 28,264,657 — 28,264,657 —
Other grants 1,723 — — 1,723 —
Repayment of advances made to other funds — — (48,000) (48,000) —
Transfers in 3,888,064 786,520 5,204,774 9,879,358 677,752
Transfers out — (377,300) (6,442,364) (6,819,664) (658,000)
Net cash provided by noncapital
financing activities 3,889,787 28,673,877 (1,285,590) 31,278,074 19,752
Cash flows from capital and related financing activities
Capital contributions received — 22,704,235 440,000 23,144,235 —
Acquisition and construction of capital assets (5,476,270) (25,025,838) (5,215,570) (35,717,678) (4,609,826)
Proceeds from sale of capital assets 114,836 (20,949) — 93,887 17,992
Reduction in long-term obligations (1,194,486) — (673,808) (1,868,294) —
Advances from other funds 6,500,000 — 112,266 6,612,266 —
Interest paid on long-term obligations (1,096,185) — (352,102) (1,448,287) —
Net cash used in capital
and related financing activities (1,152,105) (2,342,552) (5,689,214) (9,183,871) (4,591,834)
Cash flows from investing activities – interest received
on investments 776,655 667,747 2,000,559 3,444,961 2,111,463
Net cash provided by investing activities 776,655 667,747 2,000,559 3,444,961 2,111,463
Net increase (decrease) in cash and cash equivalents 5,659,565 (6,438,503) (2,624,738) (3,403,676) 2,631,804
Cash and cash equivalents at beginning of year 22,418,477 23,083,025 54,198,912 99,700,414 64,449,684
Cash and cash equivalents at end of year $ 28,078,042 16,644,522 51,574,174 96,296,738 67,081,488
Cash and investments $ 26,373,738
8,208,243 40,237,652 74,819,633 67,081,488
Restricted cash and investments 1,704,304 8,436,279 11,336,522 21,477,105 —
Total cash and cash equivalents $ 28,078,042 16,644,522 51,574,174 96,296,738 67,081,488
(Continued)