|
THE L.J. SKAGGS AND MARY
C. SKAGGS FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2007 & 2006
| |
2007 |
2006 |
| Cash
flows from (used by) operating activities: |
|
|
| Change
in net assets |
$ (65,053) |
$ (39,523) |
| Adjustments
to reconcile change in net assets to net cash used in operating
activities: |
|
|
| Increase
in contribution receivable |
10,855 |
645 |
| Net losses (gains)
on sales of securities |
(13,118) |
(40,022) |
| Increase (Decrease)
in grants payable |
9,133 |
|
| Increase (Decrease) in accrued
interest receivable |
(25) |
339 |
| Other - net |
750 |
2,603 |
| |
|
|
| Net
Cash used by Operating Activities |
(57,458) |
(75,958) |
| |
|
|
| Cash
flows from investing activities:
|
|
|
| Proceeds
on disposition of securities
|
395,323 |
354,307 |
| Purchase
of securities |
(344,463) |
(289,418) |
| |
|
|
| Net
Cash provided from Investing Activities |
50,860 |
64,889 |
| |
|
|
| Net
decrease in Cash and Cash Equivalents |
(6,598) |
(11,069) |
| |
|
|
| Cash
and cash equivalents, beginning of year |
23,091 |
34,160 |
| |
|
|
| Cash
and cash equivalents, end of year |
$ 16,493 |
$ 23,091 |
|
