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1996/97 STATE TRANSIT ANNUAL REPORT
Financial Statements



Statement of Cash Flows

For the year ended 30 June 1997
    1997 $000 1996 $000
  Note
 
Inflows (Outflows) Inflows (Outflows)
Cash flows from operating activities      
Passenger revenue and other income   203,587 187,071
Received from NSW Government:      
  • Community service obligations
  39,039 36,438
  • School student transport scheme reimbursement
  26,855 27,498
  • Other concessional reimbursement
  84,111 74,688
Interest received   1,866 4,711
Payments to suppliers   (118,136) (102,442)
Payments to employees   (218,139) (203,137)
Payment to SAA - tax allocation adjustment   (5,058) ------
Interest and other finance costs   ( 2,534) (3,237)
Income tax paid   ( 2,999) (999)
       
Net cash provided by (used in) operating activities (ii) 8,592 20,591
       
Cash flows from investing activities      
Payments for property, plant and equipment   (38,076) (28,738)
Proceeds from sale of property, plant and equipment   5,049 2,902
       
Net cash provided by (used in) investing activities   (33,027) (25,836)
       
Cash flows from financing activities      
Repayment of borrowings   ------ (112)
Repayment of lease liabilities   (8,171) (5,967)
Dividends paid   (5,177) (1,485)
       
Net cash provided by (used in) financing activities   (13,348) (7,564)
       
Net increase (decrease) in cash held   (37,783) (12,809)
       
Cash at beginning of year   52,725 65,534
       
Cash at end of year (i) 14,942 52,725

The accompanying notes form an integral part of these financial statements.



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