KU Annual Report 2016 | Page 42

KU Financial Report 21. Notes to the Cash Flow Statement 2016 $ 2015 $ Surplus for the period 5,563,232 5,340,237 Depreciation and Amortisation of non-current assets 1,933,337 1,915,657 24,289 18,901 (894,997) (757,171) 30,770 25,265 Government capital funding (63,374) (520,088) Finance Lease adjustments (13,734) 12,497 66,135 (35,000) (a) Reconciliation of Surplus for the period to Net Cash Flows From Operating Activities Loss on sale of non-current assets Interest received Interest paid Make good adjustments Movements in working capital: Decrease in trade receivables and other assets (179,078) (182,196) Increase/(Decrease) in trade payables and other liabilities (292,946) 2,757,390 849,483 832,023 7,023,118 9,407,515 Increase in provisions Net cash generated from/(utilised in) operating activities (b) Reconciliation of Cash and Cash Equivalents For the purposes of the cash flow statement, cash and cash equivalents include cash at bank and on hand. Cash and cash equivalents 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 and cash equivalents 38,770,776 31,169,874 Cash includes $6,937,189 (2015: $6,056,921) which is held for disbursement in accordance with government funding agreements and $5,442,485 (2015: $6,045,251) in relation to Work Based Services. 22. Term deposits Term deposits 15,000,000 16,000,000 15,000,000 16,000,000 Term deposits comprise term deposit investments held with various banks. The maturity periods on these investments from the date of purchase range between 3 to 10 months. 23. Information & Declarations to be Furnished Under the Charitable Fundraising Act 1991 Under this Act, KU holds a single authority to fundraise for KU centres. The authority does not extend to services which KU manages on behalf of another organisation. Preparation of the following information reflects the level of disclosure existing in management systems in use by the organisation. 121st Annual Report 2016