Informe Anual, 2005 - Museo de Arte de Ponce

Museo de Arte de Ponce
Statement of Cash Flows
December 31, 2005 and 2004
2005 2004
Cash flows from operating activities
Changes in net assets $ (207,535) $ 2,774
Adjustments to reconcile changes in net assets to
net cash provided by operating activities:
Depreciation 49,492 47,604
Realized and unrealized loss on investment securities 106 2,702
Restricted interest income (19,828) (8,265)
Changes in assets and liabilities that increase
(decrease) cash
Accounts receivable (142,654) (46,249)
Accounts receivable from related parties 44,997 -
Other assets (114,755) (29,860)
Accounts payable and accrued liabilities 169,707 (71,757)
Accounts payable to related parties (269,842) (58,228)
Deferred revenues (22,016) (9,583)
Net cash provided by operating activities (512,328) (170,862)
Cash flows from investing activities
Increase in restricted money market accounts (39,511) (151,935)
Acquisition of property and equipment (47,879) (26,910)
Proceeds from redemption of investment securities
permanently restricted (106) 135,421
Net cash used in investing activities (87,496) (43,424)
Cash flows from financing activities
Restricted interest income 19,828 8,265
Advances from line of credit 401,000 -
Net cash provided by financing activities 420,828 8,265
Net decrease in cash (178,996) (206,021)
Cash at beginning of year 503,506 709,527
Cash at end of year $ 324,510 $ 503,506
Cash includes:
Cash $ 196,375 $ 380,067
Unrestricted money market accounts 128,135 123,439
$ 324,510 $ 503,506
Supplemental cash flows information
Interest paid $ 24,550 $ 7,729
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