2010 Annual Report - City of Vernon

PAGE 57CITY OF VERNON 2010 ANNUAL REPORTHE CORPORATION OF THE CITY OF VERNONConsolidated Statement of Cash FlowsStatement DDecember 31 (in thousands of dollars) 2010 2009Operating Activities:Capital Activities:Annual surplus $ 4,229 $ 132Non-cash items included in annual surplus:Amortization of tangible capital assets 10,811 10,863Net losses on disposal of tangible capital assets 1,484 1,940Contributed tangible capital assets (792) (280)Actuarial adjustments on long-term debt (867) (595)Change in non-cash operating items:(Increase) / decrease in accounts receivable (2,828) (1,538)(Increase) / decrease in supplies inventories 44 (78)(Increase) / decrease in prepaid expenses (207) 92Increase in accounts payable and accrued liabilities 2,706 3,043Increase / (decrease) in deferred charges (3,737) 44110,843 14,020Proceeds on sale of tangible capital assets 309 252Acquisition of tangible capital assets (12,601) (10,468)Investing Activities:Financing Activities:(12,292) (10,216)Change in portfolio investments (MFA BondFund) (311) (584)Increase in land under development (355) (478)(666) (1,062)Principal payments on long-term debt (1,826) (2,510)Increase in cash and cash equivalents (3,941) 232Cash and cash equivalents, beginning of year 38,631 38,399Cash and cash equivalents, end of year $ 34,690 $ 38,631The accompanying summary of significant accounting policies and notes are an integral part of these financial statements.