Annual Report 2009 - Asian Productivity Organization

FINANCIAL REPORT 108
ASIAN PRODUCTIVITY ORGANIZATION
STATEMENTS OF CASH FLOWS
YEARS ENDED 31 DECEMBER 2009 AND 2008
(US dollars)
2009 2008
Operating activities
Cash provided by:
Membership contributions $11,986,035 $11,614,375
Special cash grants 1,403,498 1,237,880
Project implementation grants 2,019,827 2,331,191
Participation by member countries 5,792 11,720
Decrease (increase) in receivables from member countries 831,384 (812,000)
Miscellaneous income - interest 48,817 146,332
Miscellaneous income - others 2,377 59,126
16,297,730 14,588,624
Cash used in:
Project expenses
APO share 6,992,284 8,704,266
Implementation project costs 2,019,827 2,331,191
Allocation to project costs 2,406,177 2,174,569
Administration expenses 5,003,949 4,761,259
Exchange variance 26,413 84,194
(Decrease) increase in prepaid expenses and other (136,257) 263,983
Decrease in deposits and other advance payments (91,295) (74,762)
(Decrease) increase in fund for severance payments (6,219) 285,007
Decrease in accounts payable and other 632,946 73,729
Decrease (increase) in accrued annual leave 2,008 (107,242)
Increase in liability for severance payments (381,135) (208,495)
16,468,698 18,287,699
Net cash used in operating activities (170,968) (3,699,075)
Effect of exchange rate changes on cash and
cash equivalents (265,437) 963,083
Net decrease increase in cash and cash equivalents (436,405) (2,735,992)
Cash and cash equivalents at beginning of year 9,380,631 12,116,623
Cash and cash equivalents at end of year $8,944,226 $9,380,631