State of Connecticut

Statement of Cash Flows
Proprietary Funds
For the Fiscal Year Ended June 30, 2008
(Expressed in Thousands)
Business-Type Activities
Enterprise Funds
University of
Connecticut &
Health Center
State
Universities
Bradley 
International
Airport
Connecticut
Lottery
Corporation
Cash Flows from Operating Activities        
Receipts from Customers $774,144 $300,915 $44,158 $996,345
Payments to Suppliers (444,394) (7,425) (23,006) (21,391)
Payments to Employees (980,625) (375,466) (15,840) (13,873)
Other Receipts (Payments) 277,088 (129,864) - (662,027)
Net Cash Provided by (Used in) Operating Activities (373,787) (211,840) 5,312 299,054
Cash Flows from Noncapital Financing Activities        
Retirement of Bonds and Annuities Payable - - - (42,015)
Interest on Bonds and Annuities Payable - - - (18,508)
Transfers In 440,263 234,463 9,448 -
Transfers Out - - - (283,000)
Other Receipts (Payments) 24,391 3,602 3,712 6,850
Net Cash Flows from Noncapital Financing Activities 464,654 238,065 13,160 (336,673)
Cash Flows from Capital and Related Financing Activities        
Additions to Property, Plant and Equipment (96,497) (33,686) (11,043) (2,289)
Proceeds from Capital Debt - 204 - -
Principal Paid on Capital Debt (74,846) (18,669) (9,410) -
Interest Paid on Capital Debt (54,857) - (10,690) -
Transfer In 112,924 - - -
Federal Grant - - - -
Capital Contributions - 22,314 1,781 -
Other Receipts (Payments) (16,305) 10 15,254 -
Net Cash Flows from Capital and Related Financing Activities (129,581) (29,827) (14,108) (2,289)
Cash Flows from Investing Activities        
Proceeds from Sales and Maturities of Investments 1,365 - - 41,903
Purchase of Investment Securities - (250) - (6,843)
Interest on Investments 18,021 12,490 7,146 20,029
(Increase) Decrease in Restricted Assets - - 9,681 -
Other Receipts (Payments) 2,172 - - -
Net Cash Flows from Investing Activities 21,558 12,240 16,827 55,089
Net Increase (Decrease) in Cash and Cash Equivalents (17,156) 8,638 21,191 15,181
Cash and Cash Equivalents -Beginning of Year 335,761 211,227 115,804 21,854
Cash and Cash Equivalents -End of Year $318,605 $219,865 $136,995 $37,035
Reconciliation of Operating Income (Loss) to Net Cash        
Provided by (Used In) Operating Activities        
Operating Income (Loss) $(584,416) $(260,793) $(12,680) $283,555
Adjustments not Affecting Cash:        
Depreciation and Amortization 127,886 42,654 17,686 832
Other 73,950 389 (5) 124
Change in Assets and Liabilities:        
(Increase) Decrease in Receivables, Net 1,230 (34,959) (540) (2,330)
(Increase) Decrease in Due from Other Funds 7,366 - - -
(Increase) Decrease in Inventories and Other Assets (6,086) (323) - (400)
Increase (Decrease) in Accounts Payables & Accrued Liabilities 6,283 41,192 851 17,273
Increase (Decrease) in Due to Other Funds - - - -
Total Adjustments 210,629 48,953 17,992 15,499
Net Cash Provided by (Used In) Operating Activities $(373,787) $(211,840) $5,312 $299,054
Reconciliation of Cash and Cash Equivalents to the Statement        
of Net Assets        
Cash and Cash Equivalents - Current $266,691 $119,897 $49,394  
Cash and Cash Equivalents - Noncurrent 1,468 99,968 -  
Cash and Cash Equivalents - Restricted 50,446 - 87,601  
  $318,605 $219,865 $136,995  

 

Business-Type Activities
Enterprise Funds
Governmental
Activities
Employment
Security
Clean
Water
Other
Funds
Total Internal
Service
Funds
Cash Flows from Operating Activities          
Receipts from Customers $562,279 $62,694 $189,175 $2,929,710 $98,583
Payments to Suppliers - - (80,359) (576,575) (43,798)
Payments to Employees - (439) (311,900) (1,698,143) (28,633)
Other Receipts (Payments) (572,546) (118,064) 64,956 (1,140,457) 811
Net Cash Provided by (Used in) Operating Activities (10,267) (55,809) (138,128) (485,465) 26,963
Cash Flows from Noncapital Financing Activities          
Retirement of Bonds and Annuities Payable - (42,520) (32,570) (117,105) -
Interest on Bonds and Annuities Payable - (26,200) (8,069) (52,777) -
Transfers In - 2,584 245,575 932,333 -
Transfers Out (18,671) - (9,448) (311,119) -
Other Receipts (Payments) - (109,825) 297 (70,973) -
Net Cash Flows from Noncapital Financing Activities (18,671) (175,961) 195,785 380,359 -
Cash Flows from Capital and Related Financing Activities          
Additions to Property, Plant and Equipment - - (9,944) (153,459) (24,677)
Proceeds from Capital Debt - - - 204 -
Principal Paid on Capital Debt - - - (102,925) -
Interest Paid on Capital Debt - - (3,116) (68,663) -
Transfer In - - 42,970 155,894 -
Federal Grant - 10,590 14,084 24,674 -
Capital Contributions - - - 24,095 -
Other Receipts (Payments) - - (101,528) (102,569) (205)
Net Cash Flows from Capital and Related Financing Activities - 10,590 (57,534) (222,749) (24,882)
Cash Flows from Investing Activities          
Proceeds from Sales and Maturities of Investments - - - 43,268 -
Purchase of Investment Securities - - - (7,093) -
Interest on Investments 28,938 23,508 11,414 121,546 220
(Increase) Decrease in Restricted Assets - 93,180 (2,828) 100,033 -
Other Receipts (Payments) - 100,834 5,771 108,777 (624)
Net Cash Flows from Investing Activities 28,938 217,522 14,357 366,531 (404)
Net Increase (Decrease) in Cash and Cash Equivalents - (3,658) 14,480 38,676 1,677
Cash and Cash Equivalents -Beginning of Year - 3,658 140,676 828,980 15,172
Cash and Cash Equivalents -End of Year $- $- $155,156 $867,656 $16,849
Reconciliation of Operating Income (Loss) to Net Cash          
Provided by (Used In) Operating Activities          
Operating Income (Loss) $(43,537) $14,271 $(215,230) $(818,830) $1,971
Adjustments not Affecting Cash:          
Depreciation and Amortization - - 16,592 205,650 20,061
Other - - (4,604) 69,854 -
Change in Assets and Liabilities:          
(Increase) Decrease in Receivables, Net (1,514) (70,080) 71,315 (36,878) 2,880
(Increase) Decrease in Due from Other Funds (58) - - 7,308 4,983
(Increase) Decrease in Inventories and Other Assets 31,862 - (7,776) 17,277 640
Increase (Decrease) in Accounts Payables & Accrued Liabilities - - 1,575 67,174 (3,572)
Increase (Decrease) in Due to Other Funds 2,980 - - 2,980 -
Total Adjustments 33,270 (70,080) 77,102 333,365 24,992
Net Cash Provided by (Used In) Operating Activities $(10,267) $(55,809) $(138,128) $(485,465) $26,963
Reconciliation of Cash and Cash Equivalents to the Statement          
of Net Assets          
Cash and Cash Equivalents - Current          
Cash and Cash Equivalents - Noncurrent          
Cash and Cash Equivalents - Restricted          
           

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