ANNUAL REPORT 2008/09 - BC Transit

BRITISH COLUMBIA TRANSITStatement of Cash FlowsYear ended March 31, 2009 ($000)2009 2008(restated– note 2(n)Cash provided by (used for):Operations:Net revenue (expenditures) for the year $ (2,538) $ 1,605Items not involving cash:Amortization of capital assets 21,397 18,105Amortization of capital assets under lease 32,654 32,654Amortization of deferred capital contributions (40,985) (38,479)Loss on disposal of capital assets 329 94Unrealized loss (gain) on foreign exchange derivative 1,073 (737)Net changes in non-cash operating working capital:Accounts receivable (3,733) (1,869)Prepaid expenditures (52) 125Accounts payable and accrued liabilities 1,814 2,867Deferred revenue 1,493 (4,460)11,452 9,905Investing:Proceeds from sale of capital assets 20 537Additions to capital assets (69,974) (38,292)Recoveries from capital assets under lease 101 573(69,853) (37,182)Financing:Repayment to the Province of British Columbiaof proceeds on disposal of contributed land (101) (573)Increase in deferred contributions 2,077 609Capital lease payments (20) (18)Proceeds on issuance of (repayments of) long-term debt 17,235 (7,991)Increase in debt sinking funds (7,592) (3,883)Deferred capital contributions received 48,676 24,04360,275 12,187Increase (decrease) in cash and cash equivalents 1,874 (15,090)Cash and cash equivalents, beginning of year 21,666 36,756Cash and cash equivalents, end of year $ 23,540 $ 21,666See accompanying notes to financial statements.38BC TRANSIT 2008/09 ANNUAL REPORT6