COG Comprehensive Annual Financial Report

Schedule 16 Page 2 of 2

Statement of Cash Flows Component Unit For the Fiscal Year Ended June 30, 2008

GREENSBORO TRANSIT AUTHORITY

(continued)

Reconciliation of Operating Loss to Net Cash Provided by Operating Activities: Operating Loss

$

(23,224,047)

Adjustments to Reconcile Operating Loss to Net Cash Used by Operating Activities: Depreciation

2,786,349

Change in Assets and Liabilities: Decrease in Receivables

654,715

Increase in Inventories

(4,143)

Decrease in Intergovernmental Receivables

(920,321) 1,143,306

Increase in Accounts Payable Increase in Annual Leave Accrual

12,461

Other Receipts

19,509,337 23,181,704

Total Adjustments

Net Cash Used by Operating Activities

$

(42,343)

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