Statement of Cash Flows For the Year Ended 31 December 2010


Consolidated University
Notes This Year Last Year This Year Budget Last Year
$000 $000 $000 $000 $000
Cash Flows from Operating Activities
Cash was provided from:              
Government Funding and Grants   93,641 90,253   93,641 92,086 90,253
Revenues from Tuition Fees   64,869 64,277   64,869 67,360 64,277
Other Revenue   56,704 53,219   51,768 47,414 51,288
Interest Received   1,683 1,041   1,428 1,000 1,038
Goods and Services Tax (net) (141) 1,048   (141) (633) 1,054
    216,756 209,838   211,565 207,227 207,910
 
Cash was applied to:            
Interest Paid   (215) (209)   (162) (168) (170)
Suppliers   (65,597) (65,832)   (63,820) (57,424) (66,110)
Employees (120,041) (115,739)   (117,799) (118,485) (115,739)
    (185,853) (181,780)   (181,781) (176,077) (182,019)
 
Net Cash Flows from Operating Activities 24 30,903 28,058 29,784 31,150 25,891
 
Cash Flows from Investing Activities
Cash was provided from:              
Cash Dividends   - -   116 - -
Property, Plant and Equipment Sales   166 186   166 - 186
Short Term Investments - 6,992   - 9,058 6,992
    166 7,178   282 9,058 7,178
 
Cash was applied to:              
Term Investments   - -   (1,455) - -
Purchase of Investments   - -   - - -
Short Term Investments   (3,195) (16,324)   (2,942) (2,250) (16,050)
Intangibles   (2,360) (3,165)   (1,047) - (841)
Property Plant & Equipment (24,669) (24,324)   (24,644) (23,724) (24,305)
    (30,224) (43,813)   (30,088) (25,974) (41,196)
 
Net Cash Flows from Investing Activities   (30,058) (36,635) (29,806) (16,916) (34,018)
 
Cash Flows from Financing Activities
Distribution from Foundation - -   294 - -
Issue of Share Capital 303 -   - - -
  303 - 294 - -
 
Cash was applied to:              
Repayment of Finance Lease Liabilities   (2) (2)   (2) - (2)
Dividends Paid   - -   - - -
Loans Repaid (82) (73)   (82) (80) (73)
    (84) (75)   (84) (80) (75)
 
Net Cash Flows from Financing Activities   219 (75) 210 (80) (75)
 
Net Cash Flows From All Activities 1,064 (8,652)   188 14,154 (8,202)
 
Opening Cash and Cash Equivalents   10,500 19,152   10,193 10,193 18,395
Closing Cash and Cash Equivalents 11,564 10,500 10,381 24,347 10,193

The Goods and Services Tax (GST) (net) component of operating activities reflects the net GST paid to and received from the Inland Revenue Department. The GST (net) component has been presented on a net basis, as the gross amounts do not provide meaningful information for financial statement purposes.

The accompanying notes form an integral part of, and should be read in conjunction with, this statement.



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