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1996/97 STATE TRANSIT ANNUAL REPORT
Financial Statements



Notes to Statement of Cash Flows

For the year ended 30 June 1997
  1997
$000
1996
$000
(i) Reconciliation of Cash    
For the purpose of the Statement of Cash Flows, cash includes cash on hand and in the bank and investments in Treasury Corporation Cash Facilities - Hour Glass.

Cash 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 on hand and in the bank

2,457

3,027
  • Investments
12,485 49,698
Cash at end of year
14,942

52,725
     
(ii) Reconciliation of net operating result to net cash provided by operating activities:    
Net operating result after income tax (1,446) 6,725
     
Adjustments to reconcile net operating result to net cash provided by operating activities:    
     
Depreciation and amortisation 31,665 22,403
Major periodic maintenance (1,944) 3,731
Net loss/(profit) on sale of non-current assets (1,003) (436)
Bad and doubtful debts 1 33
Movement in stock provision (189) (483)
Equipment write-off 172 130
Staff benefits provisions 1,387 (4,795)
Other provisions (14,984) (8,806)
Income tax benefits (2,536) ------
Other non cash items (95) (101)
     
Changes in assets and liabilities:    
     
(Increase)/decrease in inventory (242) (371)
(Increase)/decrease in prepayments (981) (1,205)
(Increase)/decrease in other assets (298) 295
(Increase)/decrease in receivables (2,426) (650)
Increase/(decrease) in trade creditors 440 4,516
Increase/(decrease) in revenue received in advance 1,071 (395)
Net cash provided by operating activities
8,592


20,591


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



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