Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2007 BASIC FINANCIAL STATEMENTS - Statement of Cash Flows Proprietary Funds

State of Connecticut

Statement of Cash Flows
Proprietary Funds
For the Fiscal Year Ended June 30, 2007
(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 $692,558 $276,053 $42,754 $958,748
Payments to Suppliers (404,500) (8,597) (24,138) (23,919)
Payments to Employees (923,888) (353,668) (14,298) (12,577)
Other Receipts (Payments) 294,219 (121,203) - (646,148)
Net Cash Provided by (Used in) Operating Activities (341,611) (207,415) 4,318 276,104
Cash Flows from Noncapital Financing Activities        
Proceeds from Sale of Bonds - - - 7,853
Retirement of Bonds and Annuities Payable - - - (45,751)
Interest on Bonds and Annuities Payable - - - (21,284)
Transfers In 402,397 224,981 9,254 -
Transfers Out - - - (279,000)
Other Receipts (Payments) 23,308 3,371 732 -
Net Cash Flows from Noncapital Financing Activities 425,705 228,352 9,986 (338,182)
Cash Flows from Capital and Related Financing Activities        
Additions to Property, Plant and Equipment (87,807) (41,023) (15,917) (262)
Proceeds from Capital Debt 89,000 69,005 - -
Principal Paid on Capital Debt (69,921) (79,813) (8,430) -
Interest Paid on Capital Debt (50,860) - (11,055) -
Transfer In 110,240 - - -
Federal Grant - - - -
Capital Contributions - 13,589 3,914 -
Other Receipts (Payments) (34,339) 598 14,624 -
Net Cash Flows from Capital and Related Financing Activities (43,687) (37,644) (16,864) (262)
Cash Flows from Investing Activities        
Proceeds from Sales and Maturities of Investments - - - 45,523
Purchase of Investment Securities (167) (80) - (7,853)
Interest on Investments 17,920 13,263 7,991 22,873
(Increase) Decrease in Restricted Assets - - - -
Other Receipts (Payments) (27,277) - - -
Net Cash Flows from Investing Activities (9,524) 13,183 7,991 60,543
Net Increase (Decrease) in Cash and Cash Equivalents 30,883 (3,524) 5,431 (1,797)
Cash and Cash Equivalents -Beginning of Year 304,878 214,751 110,373 23,651
Cash and Cash Equivalents -End of Year $335,761 $211,227 $115,804 $21,854
Reconciliation of Operating Income (Loss) to Net Cash        
Provided by (Used In) Operating Activities        
Operating Income (Loss) $(529,499) $(243,763) $(14,917) $278,328
Adjustments not Affecting Cash:        
Depreciation and Amortization 114,372 41,262 17,924 706
Other 60,861 311 (33) 26
Change in Assets and Liabilities:        
(Increase) Decrease in Receivables, Net (14,084) (3,663) 1,110 1,805
(Increase) Decrease in Due from Other Funds (3,585) - - -
(Increase) Decrease in Inventories and Other Assets 49,207 (4,718) - 203
Increase (Decrease) in Accounts Payables & Accrued Liabilities (19,054) 3,156 234 (4,964)
Increase (Decrease) in Due to Other Funds 171 - - -
Total Adjustments 187,888 36,348 19,235 (2,224)
Net Cash Provided by (Used In) Operating Activities $(341,611) $(207,415) $4,318 $276,104
Reconciliation of Cash and Cash Equivalents to the Statement        
of Net Assets        
Cash and Cash Equivalents - Current $216,413 $108,237 $36,862  
Cash and Cash Equivalents - Noncurrent 1,462 102,990 -  
Cash and Cash Equivalents - Restricted 117,886 - 78,942  
  $335,761 $211,227 $115,804  

 

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 $548,177 $62,000 $191,644 $2,771,934 $89,713
Payments to Suppliers - - (65,724) (526,878) (31,197)
Payments to Employees - (690) (282,342) (1,587,463) (37,474)
Other Receipts (Payments) (573,498) (61,937) (75,907) (1,184,474) (197)
Net Cash Provided by (Used in) Operating Activities (25,321) (627) (232,329) (526,881) 20,845
Cash Flows from Noncapital Financing Activities          
Proceeds from Sale of Bonds - 185,280 5,000 198,133 -
Retirement of Bonds and Annuities Payable - (62,192) (32,574) (140,517) -
Interest on Bonds and Annuities Payable - (22,527) (9,751) (53,562) -
Transfers In - 2,408 218,575 857,615 -
Transfers Out (3,030) - (9,254) (291,284) -
Other Receipts (Payments) - 1,297 (4,616) 24,092 -
Net Cash Flows from Noncapital Financing Activities (3,030) 104,266 167,380 594,477 -
Cash Flows from Capital and Related Financing Activities          
Additions to Property, Plant and Equipment - - (9,678) (154,687) (22,653)
Proceeds from Capital Debt - - - 158,005 -
Principal Paid on Capital Debt - - - (158,164) -
Interest Paid on Capital Debt - - (3,558) (65,473) -
Transfer In - - 129,586 239,826 -
Federal Grant - 13,146 19,028 32,174 -
Capital Contributions - - - 17,503 -
Other Receipts (Payments) - - (55,983) (75,100) (67)
Net Cash Flows from Capital and Related Financing Activities - 13,146 79,395 (5,916) (22,720)
Cash Flows from Investing Activities          
Proceeds from Sales and Maturities of Investments - - - 45,523 -
Purchase of Investment Securities - - - (8,100) -
Interest on Investments 28,351 26,653 11,969 129,020 233
(Increase) Decrease in Restricted Assets - - 25 25 -
Other Receipts (Payments) - (145,353) (7,650) (180,280) (90)
Net Cash Flows from Investing Activities 28,351 (118,700) 4,344 (13,812) 143
Net Increase (Decrease) in Cash and Cash Equivalents - (1,915) 18,790 47,868 (1,732)
Cash and Cash Equivalents -Beginning of Year - 5,573 121,886 781,112 16,904
Cash and Cash Equivalents -End of Year $- $3,658 $140,676 $828,980 $15,172
Reconciliation of Operating Income (Loss) to Net Cash          
Provided by (Used In) Operating Activities          
Operating Income (Loss) $(14,413) $12,682 $(179,289) $(690,871) $(5,747)
Adjustments not Affecting Cash:          
Depreciation and Amortization - - 15,580 189,844 19,743
Other - - (4,074) 57,091 -
Change in Assets and Liabilities:          
(Increase) Decrease in Receivables, Net (1,344) (13,309) (83,390) (112,875) 94
(Increase) Decrease in Due from Other Funds (116) - - (3,701) 2,941
(Increase) Decrease in Inventories and Other Assets (10,462) - 708 34,938 (364)
Increase (Decrease) in Accounts Payables & Accrued Liabilities - - 18,136 (2,492) 4,178
Increase (Decrease) in Due to Other Funds 1,014 - - 1,185 -
Total Adjustments (10,908) (13,309) (53,040) 163,990 26,592
Net Cash Provided by (Used In) Operating Activities $(25,321) $(627) $(232,329) $(526,881) $20,845
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.