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2007-2008 ANNUAL REPORT
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S A S K A T C H E WA N I N D I A N G A M I N G A U T H O R I T Y I N C .
Consolidated Statement of Cash Flows
Year ended March 31, 2008, with comparative figures for 2007
2008
2007
Cash flows from (used in):
Operations:
Net income due to Saskatchewan Liquor and
Gaming Authority
(Note 8)
$ 60,270,904
$ 48,836,918
Items not involving cash:
Amortization
5,491,638
2,247,613
(Gain) on disposal of capital assets
(19,203)
Change in non-cash operating working capital:
Accounts receivable
(2,696,139)
273,226
Inventory
(197,907)
87,556
Prepaids
(268,252)
81,104
Accounts payable and accrued liabilities
1,209,286
(1,263,025)
Payments to Saskatchewan
Liquor and Gaming Authority
(Note 8)
(52,339,507)
(41,808,373)
11,450,820
8,455,019
Financing:
Bridge financing advanced
20,000,000
Repayment of bridge financing
(20,000,000)
Long-term financing advanced
44,996,279
Capital reserve
(Note 1)
5,000,000
Repayment of capital lease obligation
(364,881)
Repayment of long-term debt
(21,906)
(64,235)
29,609,492
19,935,765
Investing:
Purchase of capital assets
(5,093,303)
(2,142,823)
Investment in new casino projects
(Note 3)
(13,765,164)
(29,326,604)
Proceeds on disposal of capital assets
27,760
(18,830,707)
(31,469,427)
Increase (decrease) in cash position
22,229,605
(3,078,643)
Cash position, beginning of year
13,952,721
17,031,364
Cash position, end of year
$ 36,182,326
$ 13,952,721
Cash consists of:
Cash
$ 13,914,438
$ 6,724,442
Short-term investments
22,267,888
7,228,279
$ 36,182,326
$ 13,952,721
See accompanying notes to the consolidated financial statements.