Page 71 - 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 2 of 2

Enterprise Funds Internal
Water and Solid Waste Transit Non-Major Service
Sewer Utility Disposal Authority Funds Total Funds
Reconciliation of Cash and
Cash Equivalents/Investments
Cash and investments – current $ 79,700,734 $ 17,558,868 $ 11,676 $ 30,946,822 $ 128,218,100 $ 60,482,961
Cash and investments – restricted 84,227,027 18,511,991 - 81,921 102,820,939 -
Cash and cash equivalents/
investments June 30 $ 163,927,761 $ 36,070,859 $ 11,676 $ 31,028,743 $ 231,039,039 $ 60,482,961
Reconciliation of Operating
Income (Loss) to Net Cash Provided
(Used) by Operating Activities
Operating income (loss) 39,061,025 (491,749) (17,622,833) 1,987,120 22,933,563 1,884,809
Adjustments to reconcile operating
income (loss) to net cash provided
(used) by operating activities
Depreciation expense 26,939,559 4,313,764 2,946,743 3,271,222 37,471,288 1,175,314
Change in assets, deferred out ows of
resources, and liabilities, and deferred
in ows of resources
(Increase) decrease in receivables (188,007) 10,272 (33,953) 31,506 (180,182) (4,115)
(Increase) decrease in inventories (271,010) - (114,808) - (385,818) 76,261
(Increase) decrease in prepaid expenses - - - 29,075 29,075 -
(Increase) decrease in deferred
out ows of resources – pensions 1,263,741 - - 97,851 1,361,592 442,094
Increase (decrease) in net pension liability (1,188,177) - - (92,002) (1,280,179) (415,659)
Increase (decrease) in net OPEB liability (800,316) (87,110) - (170,079) (1,057,505) (290,583)
Increase (decrease) in deferred
in ows of resources – pensions (106,085) - - (8,214) (114,299) (37,111)
Increase (decrease) in deferred
in ows of resources – OPEB 607,438 66,116 - 129,089 802,643 220,551
Increase (decrease) in accounts payable (1,976,378) (111,732) (552,979) 88,806 (2,552,283) (192,622)
Increase (decrease) in accrued payroll 30,016 4,419 - 8,255 42,690 10,327
Increase (decrease) in employee taxes
and deductions - - - - - 732,441
Increase (decrease) in unearned revenue - - 17,266 (66,818) (49,552) 16,258
Increase (decrease) in accrued vacation 29,775 (9,291) 233,447 16,723 270,654 19,512
Increase in land ll closure and
postclosure costs - 825,619 - - 825,619 -
Increase (decrease) in claims payable - - - - - 192,625
Increase (decrease) in contracts payable - - - 302,701 302,701 154,263
Total adjustments 24,340,556 5,012,057 2,495,716 3,638,115 35,486,444 2,099,556
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

Noncash Investing, Capital, and Financing Activities

The City entered into leases for new property and equipment and incurred capital lease obligations of $5,525,100
and $3,876,432 during the years ended June 30, 2018, and 2017, respectively.
The City received contributed land amounting to $7,888,376 and $3,787,366 during the years ended June 30, 2018,
and 2017, respectively, from various developers.
Capitalized interest included in asset acquisitions of $3,069,581.
The City accrued intergovernmental revenues of $3,004,279.

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

W I N S T O N S AL E M , N O R T H C AR O L I N A 65