| |
THE
REGIONAL MUNICIPALITY OF YORK
Consolidated Statement of Changes in Financial Position
For the year ended December 31, 2006 |
| |
2006 |
2005 |
|
| |
$ |
$ |
| OPERATIONS |
|
|
| Increase in net debt |
(128,277,802) |
(224,859,419) |
|
|
|
|
| Uses: |
|
|
| Increase in accounts receivable |
- |
(54,740,890) |
| Decrease in accounts payable and other liabilities |
(23,837,345) |
(40,440,625) |
|
| |
(23,837,345) |
(95,181,515) |
|
|
|
|
| Sources: |
|
|
| Decrease in accounts receivable |
25,216,866 |
- |
| Increase in accrued interest on long-term liabilities |
1,721,508 |
1,270,963 |
| Increase in employee benefit obligations |
11,709,323 |
7,099,176 |
| Increase in deferred revenue-obligatory reserve funds |
1,634,218 |
66,211,832 |
|
| |
40,281,915 |
74,581,971 |
|
|
|
|
| Net increase in cash and cash equivalents from operations |
(111,833,232) |
(245,458,963) |
|
|
|
|
| INVESTING |
|
|
| Increase in investments |
(140,726,530) |
(477,056,985) |
|
|
|
|
| FINANCING |
|
|
| Long-term debt issued |
243,608,393 |
238,180,744 |
| Long-term debt repaid |
(71,122,071) |
(50,692,760) |
| OSIFA loans |
13,172,934 |
50,829,033 |
|
| Net increase in cash and cash equivalents from financing |
185,659,256 |
238,317,017 |
|
|
|
|
| Net change in cash and cash equivalents |
(66,900,506) |
(484,198,931) |
|
|
|
| Opening cash and cash equivalents |
239,470,686 |
723,669,617 |
|
|
|
|
|
| Closing cash and cash equivalents |
172,570,180 |
239,470,686 |
|
|
|
| |
|
|
| The accompanying notes are an integral part of these Consolidated Financial Statements. |
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