Annual Report and Audited Financial Statements 2011 - The Kenya ...

Statement of Cash Flows
for the year ended 31 Dec 2011 - Continued
Cash flows from operating activities:
2011 2010
Note Shs Shs
Cash from operations 16 89,613,371 41,964,550
Adjustment for: Interest received (214,417) (1,158,737)
Net cash from operating activities 89,398,954 40,805,813
Investing activities
Cash paid for Purchase of property and equipment (66,148,170) (52,756,096)
Cash paid on Organizational performance index (OPI) (1,199,256) (5,949,934)
Cash paid as pre-operating expenses-KIM university (59,187,297) (14,271,283)
Purchase of intangible assets (1,330,953) (2,138,045)
Proceeds from sale of property, plant and equipment 550,000 812,800
Net cash used in investing activities (127,315,676) (74,302,558)
Financing activities
Interest received 214,417 1,158,737
Net decrease in cash and cash equivalents (37,702,305) (32,338,008)
Movement in cash and cash equivalents:-
Cash and cash equivalents at the beginning of the year (11,927,855) 20,410,153
Decrease (37,702,305) (32,338,008)
At end of year 12 (49,630,160) (11,927,855)
The significant accounting policies on pages 29 to 33 and the notes on pages 34 to 43 form an integral part of the
financial statements.
Report of the independent auditor - pages 21 and 22.
Annual Report and Audited Financial Statements 2011 29