Southeast College Consolidated Statement of Cash Flows for the Year Ended June 30, 2015
Statement 4 Southeast College Consolidated Statement of Cash Flows for the year ended June 30, 2015 2015 2014 Operating Activities Surplus (deficit) for the year from operations $ 10,683,060 $ 161,806 Non-cash items included in surplus (deficit) Amortization of tangible capital assets 1,123,591 1,083,835 Net loss on disposal of tangible capital assets - 13,250 Changes in non-cash working capital Decrease in accounts receivable 154,334 664,603 Decrease in inventories for resale 2,802 6,886 Increase (decrease) in accrued salaries and benefits 25,597 (52,764) Decrease in accounts payable and accrued liabilities (588,343) (718,144) Increase (decrease) in deferred revenue 41,803 (5,725) Increase in liability for employee future benefits 7,100 7,300 (Increase) decrease in prepaid expenses (72,134) 17,135 Cash Provided by Operating Activities 11,377,810 1,178,182 Capital Activities Cash used to acquire tangible capital assets (12,768,624) (243,706) Proceeds on disposal of tangible capital assets - 19,298 Cash Used by Capital Activities (12,768,624) (224,408) Investing Activities Cash used to acquire portfolio investments (4) (291) Cash Used by Investing Activities (4) (291) (Decrease) Increase in Cash and Cash Equivalents (1,390,818) 953,483 Cash and Cash Equivalents, Beginning of Year 3,571,638 2,618,155 Cash and Cash Equivalents, End of Year $ 2,180,820 $ 3,571,638 Represented on the Financial Statements as: Cash and cash equivalents $ 3,181,401 $ 3,571,638 Bank indebtedness (1,000,581) - Cash and Cash Equivalents, End of Year $ 2,180,820 $ 3,571,638 The accompanying notes and schedules are an integral part of these financial statements SOUTHEAST COLLEGE Notes to the Consolidated Financial Statements for the year ended June 30, 2015 1.
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