Page 40 - 2008_2009_Annual_Report

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038
Saskatchewan Indian Gaming Authority Inc.
Statement of Cash Flows
Year ended March 31, 2009
2009
2008
(Restated, See Note 18)
Cash flows from (used in) operating activities
Net income before distribution to Saskatchewan
Liquor and Gaming Authority
(Note 1)
$ 59,874,423
$ 58,092,706
Items not involving cash:
Amortization
9,031,116
5,491,638
Unrealized loss on interest rate swaps
(Note 10)
7,345,748
3,014,043
Gain on disposal of capital assets
(19,203)
Change in non-cash operating working capital:
Accounts receivable
118,502
(2,696,139)
Inventory
(136,969)
(197,907)
Prepaids
(379,567)
(268,252)
Accounts payable and accrued liabilities
5,701,639
373,441
Payments to Saskatchewan Liquor and
Gaming Authority
(Note 8)
(72,507,493)
(52,339,507)
9,047,399
11,450,820
Cash flows from (used in) financing activities
Repayment of bridge financing
(20,000,000)
Long-term financing advanced
22,928,916
44,996,279
Capital reserve
(Note 1)
5,000,000
Repayment of capital lease obligation
(469,829)
(364,881)
Repayment of long-term debt
(2,310,411)
(21,906)
20,148,676
29,609,492
Cash flows from (used in) investing activities
Purchase of capital assets
(33,028,042)
(18,858,467)
Proceeds on disposal of capital assets
27,760
(33,028,042)
(18,830,707)
Increase (decrease) in cash position
(3,831,967)
22,229,605
Cash position, beginning of year
36,182,326
13,952,721
Cash position, end of year
$ 32,350,359
$ 36,182,326
Cash consists of:
Cash
$ 20,536,371
$ 13,914,438
Short-term investments
11,813,988
22,267,888
$ 32,350,359
$ 36,182,326
Supplemental Information:
Cash interest paid
$ 4,807,170
$ 3,243,568
See accompanying notes to the financial statements.