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42

STATEMENT OF CASH FLOWS

Year Ended March 31, 2016

2016

2015

Cash Flows From (Used In) Operating Activities

Total comprehensive income for the year before distribution

to Saskatchewan Liquor and Gaming Authority

$ 87,121,253

$ 83,075,295

Adjustments for:

Depreciation and amortization

11,067,095

9,654,002

Finance costs

8,052,937

7,950,716

Unrealized (gain) loss on interest rate swaps

(788,443)

1,027,796

Change in non-cash working capital:

Accounts receivable

(314,386)

260,126

Inventories

(13,720)

(99,174)

Prepaids

16,339

(422,840)

Accounts payable and accrued liabilities

768,871

3,584,013

Payments to Saskatchewan Liquor and Gaming Authority (Note 9)

(90,179,946)

(88,914,665)

15,730,000

16,115,269

Cash Flows From (Used In) Investing Activities

Purchase of intangible assets

(295,470)

(535,576)

Purchase of property and equipment

(6,932,913)

(6,535,173)

Recognition of asset under finance lease

(4,472,600)

(15,286,273)

Purchase of short-term investments

(222,514,863)

(46,282,500)

Proceeds on disposal of short-term investments

227,717,363

5,282,500

(6,498,483)

(63,357,022)

Cash Flows Used In Financing Activities

Interest paid

(8,052,937)

(7,950,716)

Recognition of finance lease obligation

4,472,600

15,286,273

Repayment of finance lease obligation

(2,697,789)

(1,397,797)

Repayment of long-term debt

(5,717,606)

(5,455,328)

(11,995,732)

482,432

Decrease In Cash Position

(2,764,215)

(46,759,321)

Cash And Cash Equivalents, Beginning Of Year

24,877,957

71,637,278

Cash And Cash Equivalents, End Of Year

$ 22,113,742

$ 24,877,957

See accompanying notes to the financial statements