PEF Annual Report 2012 - Punjab Education Foundation

Punjab Education Foundation
Punjab Education Foundation
Statement of Cash Flows
For the period ended 30 June 2012
Cash flow from operating activities
2012
2011
Note Rupees Rupees
Restated
Surplus for the year 552,412,266 515,436,624
Adjustments for non cash items and other charges:
Depreciation 10,071,592 7,854,840
Amortization of software 137,612 29,889
Amortization of government grants (4,847,567,365) (3,555,319,819)
Profit/ mark-up on TDRs and bank deposits (513,229,485) (498,976,068)
Gain on Sale of Assets - (1,993,614)
Provision for gratuity 7,566,406 6,059,317
Provision for pension 6,815,317 5,863,512
Provision for GP fund 245,072 336,248
Provision for benevolent fund 131,021 56,825
Benefit payments made (3,328,912) (2,261,010)
Provision against doubtful loans 2,421,874 22,070,542
Finance Cost 427,560 276,364
(5,336,309,308) (4,016,002,974)
Deficit before working capital changes (4,783,897,042) (3,500,566,350)
Effect on cash flow due to working capital changes
(Increase)/decrease in current assets:
Stock of Books (71,775,653) -
Advances, deposits, prepayments and other receivables (2,940,774) (9,314,920)
Profit Accrued on Short term Investments (60,985,588) 39,808,576
(135,702,015) 30,493,656
Increase/ (decrease) in liabilities
Long-term loan (8,497,209) 859,982
Accrued and other liabilities 343,497,743 36,421,740
Net cash used in operating activities (4,584,598,523) (3,432,790,972)
Finance cost paid (165,556) (37,498)
Net cash outflow from operating activities (4,584,764,079) (3,432,828,470)
Cash flows from investing activities
Capital expenditure incurred (30,310,794) (7,164,268)
Short term Investments 2,648,000,000 (1,750,000,000)
Long term security deposits (10,000) (650,000)
Profit on bank deposits and TDRs 513,229,485 498,976,068
Disposal proceeds - 2,008,000
Payment received from/ loan to employees 314,820 (34,167)
Payment received from long term loans 6,068,337 3,014,493
Net cash inflow/(outflow) from investing activities 3,137,291,848 (1,253,849,874)
Cash flows from financing activities
Government grant received 2,108,189,000 4,500,000,000
Net cash inflow from financing activities 2,108,189,000 4,500,000,000
Net increase/(decrease) in cash and cash equivalents 660,716,769 (186,678,344)
Cash and cash equivalents at the beginning of the year 1,473,358,436 1,660,036,780
Cash and cash equivalents at the end of the year 16 2,134,075,205 1,473,358,436
The attached notes 1 to 34 form an integral part of these financial statements.
Ambreen Raza
Salman Anwar Malik
Lahore Managing Director Deputy Managing
Director (Finance)
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