MIX Annual Report FY 2010 - Microfinance Information Exchange

AuditedFinancialsStatements of Cash FlowsCash Flows from Operating Activities for the year ended For the year endedJune 30, 2010 June 30, 2009Change in net assets $(806,952) 2,718,588Adjustments to reconcile change in net assets to netcash (used in) provided by operating activities:Depreciation 471,434 147,003Changes in assets and liabilities:Accounts receivable (57,200) 7,800Grants and contributions receivable 352,370 (1,620,770)Employee travel advances 232 3,483Prepaid expenses 6,564 (627)Deposits (4,489) -Accounts payable (30,114) (115,392)Accounts payroll 30,908 -Accrued vacation 17,667 13,985Deferred revenue (25,849) 283,162NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES $(45,429) $1,437,232Cash Flows from Investing Activities:Purchase of equipment (295,420) (689,374)Cash flows from Financing ActivitiesCurtailments on debt (7,223) (13,318)Net (decrease) increase in cash and equivalents $(348,072) $734,540Cash and equivalents, beginning of year 1,813,116 1,078,576Cash and equivalents, end of year $1,465,044 $1,813,116Supplemental Information:Cash paid during the year for:Interest $315 $1,726PAge 32