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03? <br />JOHNSTON- LEE - HARNETT COMMUNITY ACTION, INCORPORATED <br />Statement of Cash Flows <br />for the year ended June 30, 2013 <br />Cash flows from operating activities: <br />Changes in net assets <br />$ (150,331) <br />Adjustments to reconcile changes in net assets <br />to net cash provided by operating activities: <br />Depreciation <br />286,370 <br />Net gain on disposal of assets <br />(8,682) <br />Changes in assets and liabilities: <br />(Increase) decrease in assets: <br />Government contracts and awards receivable <br />(138,493) <br />Other receivables <br />(14,800) <br />Increase (decrease) in liabilities: <br />Accounts payable <br />(31,312) <br />Accrued liabilities <br />(44,187) <br />Net cash used in operating activities <br />(101,435) <br />Cash flows from investing activities: <br />Proceeds from sale of property and equipment 13,933 <br />Capital expenditures for property and equipment (22,873) <br />Net cash used in investing activities (8,940) <br />Cash flows from financing activities: <br />Cash restricted for long -term purposes (7,160) <br />Principal payments of long term debt (23,034) <br />Net cash used in financing activities (30,194) <br />Net decrease in cash and cash equivalents (140,569) <br />Cash and cash equivalents, beginning of year 1,228,616 <br />Cash and cash equivalents, end of year $ 1,088,047 <br />Supplemental disclosure of non -cash investing and financing activities: <br />Advances under loan payable for building $ 294,856 <br />Cash paid during the year for interest $ 48,557 <br />The accompanying notes are a integral <br />part of these financial statements <br />5 <br />