1996/97 STATE TRANSIT ANNUAL REPORT
Financial Statements
Notes to Statement of Cash Flows
For the year ended 30 June 1997
| |
1997
$000 |
1996
$000 |
| (i) Reconciliation of Cash |
|
|
For the purpose of the Statement of Cash Flows, cash includes cash on hand and in the bank and investments in Treasury Corporation Cash Facilities - Hour Glass.
Cash at the end of the financial year, as shown in the Statement of Cash Flows, is reconciled to the related items in the Balance Sheet as follows:
|
|
|
- Cash on hand and in the bank
|
2,457 |
3,027 |
| |
12,485 |
49,698 |
| Cash at end of year |
14,942
|
52,725
|
| |
|
|
| (ii) Reconciliation of net operating result to net cash provided by operating activities:
|
|
|
| Net operating result after income tax |
(1,446) |
6,725 |
| |
|
|
| Adjustments to reconcile net operating result
to net cash provided by operating activities:
|
|
|
| |
|
|
| Depreciation and amortisation |
31,665 |
22,403 |
| Major periodic maintenance |
(1,944) |
3,731 |
| Net loss/(profit) on sale of non-current assets |
(1,003) |
(436) |
| Bad and doubtful debts |
1 |
33 |
| Movement in stock provision |
(189) |
(483) |
| Equipment write-off |
172 |
130 |
| Staff benefits provisions |
1,387 |
(4,795) |
| Other provisions |
(14,984) |
(8,806) |
| Income tax benefits |
(2,536) |
------ |
| Other non cash items |
(95) |
(101) |
| |
|
|
| Changes in assets and liabilities: |
|
|
| |
|
|
| (Increase)/decrease in inventory |
(242) |
(371) |
| (Increase)/decrease in prepayments |
(981) |
(1,205) |
| (Increase)/decrease in other assets |
(298) |
295 |
| (Increase)/decrease in receivables |
(2,426) |
(650) |
| Increase/(decrease) in trade creditors |
440 |
4,516 |
| Increase/(decrease) in revenue received in advance
|
1,071 |
(395) |
| Net cash provided by operating activities |
8,592
|
20,591
|
The accompanying notes form an integral part of these financial statements.
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