Annual Report 2009 - LWUA

Annual Report 2009LOCAL WATER UTILITIES ADMINISTRATIONCASH FLOW STATEMENTFor the Year Ended December 31, 2009(With Comparative Figures for 2008)( in Philippine Pesos)Note 2009 2008CASH FLOWS FROM OPERATING ACTIVITIESInterest collected from loans and accountsof WDs/RWSAs 1,306,756,439 1,267,680,479Principal collected from loans and accounts receivable 433,895,994 387,071,724Other collections 131,312,441 139,001,939Cash received for engineering services rendered 65,828,665 57,312,092Interest collected from bank depositsand short-term investments 26,156,284 18,280,037Payment of income taxes (155,390,052) (478,241,113)Interest and other debt service charges 27 (419,844,524) (519,988,036)Cash paid to suppliers and employees (922,613,986) (680,897,133)Net cash from operating activities 466,101,261 190,219,989CASH FLOWS FROM INVESTING ACTIVITIESProceeds from Withdrawal of investments in securities 35,027,134 34,588,389Acquisition of property and equipment (35,429,792) (17,050,384)Loans to officers and employees (78,869,718) (42,511,054)Investments in agrarian reform bonds - (70,427,777)Investments in subsidiaries (80,003,070) -Advances to Express Savings Bank, Inc. (400,000,000) -Disbursements for projects: (3,050,668,254) (586,301,530)Others (1,460,341) -Net cash used in investing activities (3,611,404,041) (681,702,356)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from water districts’ long-term loans 185,802,707 2,308,157,707Proceeds from PVB borrowings 11 500,000,000 -Payment to Water Districts of their deposits (2,012,920) -Proceeds from Water Districts’ deposits - 39,005,145Proceeds from government subsidies 28 2,440,368,125 10,400,000Proceeds from long-term debts 1,114,786 2,995,456Dividends paid to the National Government / BTr - (187,600,000)Principal payments of loans from foreign and locallending institutions (702,249,271) (797,923,032)Net cash provided by (used in) financing activities 2,423,023,427 1,375,035,276EFFECTS OF EXCHANGE RATE CHANGES ONCASH AND CASH EQUIVALENTS 29 (7,335,494) 5,229,492NET INCREASE (DECREASE) IN CASHAND CASH EQUIVALENTS (729,614,847) 888,782,401CASH AND CASH EQUIVALENTS ATBEGINNING OF YEAR 1,650,526,074 761,743,673CASH AND CASH EQUIVALENTS AT END OF YEAR 920,911,227 1,650,526,074See accompanying Notes to Financial Statements.29