Page 70 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Statement of Cash Flows
Proprietary Funds Exhibit 8

For the Fiscal Year Ended June 30, 2018 Page 1 of 2

Enterprise Funds Internal
Water and Solid Waste Transit Non-Major Service
Sewer Utility Disposal Authority Funds Total Funds
Cash Flows from Operating
Activities
Cash received from sales $ 109,038,812 $ 11,482,661 $ 2,052,021 $ 17,876,279 $ 140,449,773 $ 76,858,009
Cash payments to suppliers for
goods and services (25,766,889) (4,795,824) (5,171,363) (8,105,955) (43,840,031) (65,654,146)
Cash payments to employees
for services (19,870,342) (2,166,529) (12,007,775) (4,145,089) (38,189,735) (7,219,498)
Net cash provided (used) by
operating activities 63,401,581 4,520,308 (15,127,117) 5,625,235 58,420,007 3,984,365
Cash Flows from Noncapital
Financing Activities
Intergovernmental revenue 1,606,393 972,943 2,582,181 510,310 5,671,827 -
Property taxes - - 10,451,387 - 10,451,387 -
Repayments to other funds - - - - - (5,002)
Advances from other funds - - 2,102,350 - 2,102,350 -
Transfers in - 543,319 - 1,605,700 2,149,019 -
Transfers out (433,007) - (13,781) (1,993,747) (2,440,535) (129,670)
Net cash provided (used) by
noncapital nancing activities 1,173,386 1,516,262 15,122,137 122,263 17,934,048 (134,672)
Cash Flows from
Capital and Related
Financing Activities
Proceeds from issuance of bonds 60,449,273 - - - 60,449,273 -
Proceeds from issuance of
state loans 10,765,392 - - - 10,765,392 -
Intergovernmental revenue 1,788,645 - 259,037 - 2,047,682 -
Property taxes - - (16,397) - (16,397) -
Capital contributions - - - 58,467 58,467 -
Transfers in - - - 2,000,000 2,000,000 -
Acquisition of property and
equipment (43,652,930) (1,921,893) (280,022) (3,295,513) (49,150,358) (977,477)
Retirement of bonds (22,790,000) (1,850,000) - (1,103,693) (25,743,693) -
Retirement of contracts payable (5,646,568) (717,261) - (2,416,590) (8,780,419) (1,170,882)
Interest and scal expense paid on
bonds (18,135,477) (175,684) - (581,152) (18,892,313) -
Interest and scal expense paid on
contracts payable (1,823,329) (122,227) - (784,291) (2,729,847) (164,452)
Debt issuance costs (527,270) - - - (527,270) -
Proceeds from sale of assets 63,402 19,063 21,310 20,672 124,447 72,061
Damage settlements - - 21,234 - 21,234 -
Net cash provided (used) by
capital nancing activities (19,508,862) (4,768,002) 5,162 (6,102,100) (30,373,802) (2,240,750)
Cash Flows from Investing
Activities
Investment income (loss) 6,798,237 1,569,572 158 1,341,897 9,709,864 5,104,876
Net increase (decrease) in cash 51,864,342 2,838,140 340 987,295 55,690,117 6,713,819
Cash and cash equivalents/
investments July 1 112,063,419 33,232,719 11,336 30,041,448 175,348,922 53,769,142
Cash and cash equivalents/
investments June 30 $ 163,927,761 $ 36,070,859 $ 11,676 $ 31,028,743 $ 231,039,039 $ 60,482,961

The accompanying notes are an integral part of the nancial statements.

64 2018 AN NUAL R E P O R T