Statement of Cash Flows. The accompanying statement of cash flows includes the operating, investing and financing cash flows related the ISIS Division's operations. These financial statements have been prepared by management in accordance with Canadian generally accepted accounting principles which require management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates. The principal accounting policies are as follows: Revenues from sales of the Division's products are recorded at the time the product is shipped, provided that collection of the proceeds of sale is reasonably assured. A provision is recorded at the time revenue is recognized based on estimated customer returns and allowances.
Statement of Cash Flows. The format for the statement of cash flows is shown in Appendix L of the FMG.
Statement of Cash Flows. This statement shows the actual cash inflows and outflows of the Company using the direct method of presentation. Management's discussion and analysis regarding the results of operations and financial position as of June 30, 2021 and 2020, and for the years then ended follows. Passenger revenue $ - $ 5,051,406 Governmental purchased service 5,313,232 8,938,765 Charter revenue 2,655 55,692 Special service revenue 842,132 1,619,166 Advertising revenue 827,821 894,244 Total operating revenues 6,985,840 16,559,273 Salaries and wages 25,383,138 24,642,765 Employee benefits and payroll taxes 22,193,917 18,885,774 Fees and services 1,495,246 2,414,345 Materials and supplies 6,429,058 6,879,189 Utilities 614,358 603,151 Insurance 1,743,246 2,008,059 Purchased transportation services 4,769,143 5,004,815 Other 997,906 1,028,350 CARES Act expenses 1,651,006 489,263 Depreciation and amortization 9,910,735 10,449,040 Total operating expenses 75,187,753 72,404,751 Operating loss (68,201,913) (55,845,478) Other non-operating revenues 428,349 398,621 Operating contributions 50,471,907 39,639,408 Capital grant contributions 1,562,106 2,265,934 (Loss) gain on disposal of capital assets (21,155) 42,074 Change in net position (15,760,706) (13,499,441) Net position, beginning of year, as restated (Note 18) 42,328,856 54,197,182 Net position, end of year $ 26,568,150 $ 40,697,741 The Company's results of operations for the year ended June 30, 2021, reflect a decrease in total net position of $15,760,706. All services provided by the Company are dependent upon the availability of operating revenues, non-operating revenues, operating contributions and capital grant contributions. Operating revenues include passenger revenue from transit and CARE ticket sales, along with fare box recoveries; governmental revenues in the form of purchase- of-service agreements with local governments; charter revenue for charter services provided through local transportation companies; special service revenue in the form of contract business with local universities; and advertising revenue from sales of various bus advertising displays. Much of the funding is based directly on service levels and ridership. With the onset of the COVID-19 pandemic in 2020, ridership decreased between 30% to 40% overall from 2019 levels. During FY 2021, ridership recovered to approximately 87% of the pre-pandemic levels. Understanding that a significant portion of riders were essential front line workers, the Company s...
Statement of Cash Flows. (a) Supplemental disclosures of cash flow information are as follows: Cash paid during the year for: Interest $ 860,655 $ 845,469 $ 770,080 Taxes $ 425 $ 200 $ —
Statement of Cash Flows. 10.4.1 The financial statements referred to above shall include a statement of cash flows prepared in accordance with IFRS with reconciliations thereof to US GAAP.
Statement of Cash Flows. 5 Notes to the Financial Statements..................................6
Statement of Cash Flows. For Provider agency-wide audits only.
Statement of Cash Flows. For purposes of presentation in the statement of cash flows, the Authority considers cash and cash equivalents as short term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they represent insignificant risk of changes in value because of changes in interest rates. The Authority follows the practice of pooling cash and investments of all programs (funds) and each program’s cash and investments represents amounts that can be withdrawn at any time and therefore, are considered to be cash and cash equivalents for purposes of the statement of cash flows.
Statement of Cash Flows. For purposes of the statements of cash flows, the Company considers cash on deposit in the bank to be cash. The Company had $0 cash at March 31, 1998. NOTE 1 ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [continued]
Statement of Cash Flows. For purposes of the statements of cash flows, the Company considers cash on deposit in the bank to be cash. The Company has $0 cash at December 31, 1997. The Company has incurred losses from inception amounting to $99,838, and has a net working capital deficit at December 31, 1997. Financing the Company's activities to date has been primarily generated from the issuance of its shares and loans from shareholders. The Company's ability to achieve a level of profitable operations and/or additional financing impacts the Company's ability to continue as it is presently organized. Management is currently seeking a well-capitalized merger candidate in order to commence operations. Note 3 Related Party Transactions A stockholder has paid expenses on behalf of the Company in the amount of $6,588, as of December 31, 1997. Note 4 Common Stock On January 14, 1998, the Company resolved to issue 15,000,000 restricted and unregistered shares of common stock to a shareholder as consideration for expenses paid on behalf of the Company and for consulting services. EXHIBIT C None. EXHIBIT D COMPUTER AUTOMATION SYSTEMS, INC. BALANCE SHEET DATED JUNE 29,1998 AND PROFIT AND LOSS STATEMENT FROM INCEPTION (February 13,1998) TO JUNE 29,1998 Computer Automation Systems, Inc. Balance Sheet As of June 29, 1998 Jun 29,'98 ASSETS Current Assets Checking/Savings WELLS FARGO BANK 445.00 Total Checking/Savings 445.00 Accounts Receivable 38,495.13 Accounts Receivable Total Accounts Receivable 38,495.13 Other Current Assets Inventory Asset 4,514.45 Total Other Current Assets 4,514.45 Total Current Assets 43,454.58 Fixed Assets Equipment CA 233,287.83 Office Equipment 4,909.48 Total Fixed Assets 238,197.31 Other Assets Inventory 2,300.20 Organization Cost 310.00 Total Other Assets 2,610.20 TOTAL ASSETS 284,262.09 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 11,973.15 Total Accounts Payable 11,973.15 Total Current Liabilities 11,973.15 Long Term Liabilities Equipment Contract 8,287.83 Shareholder Loan CM 57,443.12 Shareholder Loans Cherry 10,918.97 Total Long Term Liabilities 16,649.92 Total Liabilities 88,623.07 Equity Common Stock 1,000.00 Paid In Capital 225,000.00 Net Income -30,360.98 Total Equity 195,639.02 TOTAL LIABILITIES & EQUITY 284,262.09 Computer Automation Systems, Inc. Profit and Loss February 13 through June 29, 1998 Feb 13 - Jun 29, '98 Ordinary Income/Expense Income OTHER 2,834.00 RACKMOUNT 46,569.00 REPAIRS& SERVICE CA 18,243.00 Tot...
