annual-report-2016-2017

NIAGARA COLLEGE OF APPLIED ARTS AND TECHNOLOGY
Consolidated Statement of Cash Flows
Year ended March 31, 2017, with comparative information for 2015
2017 2016
Cash provided by (used in):
Operations:
Excess of revenue over expenses $ 3,465,452 $ 2,174,078
Items not involving cash:
Amortization of deferred contributions
related to capital assets (5,537,654) (5,891,581)
Amortization of capital assets 8,702,908 8,850,232
Decrease in employee future benefits (38,000) (120,000)
Increase in accrued vacation 280,612 294,618
Earnings from Niagara College KSA (1,660,750) (1,128,628)
Change in non-cash operating working capital:
Accounts receivable (1,691,419) 686,615
Inventories 165,568 173,631
Prepaid expenses and other assets 422,828 (108,673)
Accounts payable and accrued liabilities 5,932,869 (779,506)
Accrued payroll and employee deductions (487,304) 970,509
Deferred revenue 6,089,964 (1,427,736)
15,645,074 3,693,559
Capital activities:
Purchase of capital assets (19,446,604) (11,266,847)
Deferred capital contributions 7,137,305 7,556,736
(12,309,299) (3,710,111)
Investing activities:
(Purchase) sale of restricted investments (215,107) 38,037
Due from Niagara College KSA 634,983 (5,755,401)
Purchase of short-term investments - (2,520,881)
419,876 (8,238,245)
Financing activities:
Long-term receivables 1,571,990 1,181,133
Deferred contributions 969,007 375,210
Endowments contributions 871,523 (430,968)
Principal payments on long-term debt (703,172) (660,506)
2,709,348 464,869
Increase (decrease) in cash 6,464,999 (7,789,928)
Cash, beginning of year 25,855,123 33,645,051
Cash, end of year $ 32,320,122 $ 25,855,123
Cash is represented by:
Cash $ 28,256,322 $ 23,110,252
Cash - restricted 4,063,800 2,744,871
$ 32,320,122 $ 25,855,123
See accompanying notes to consolidated financial statements.
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