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CITY OF GEM LAKE, MINNESOTA <br />STATEMENT OF CASH FLOWS <br />PROPRIETARY FUNDS <br />YEAR ENDED DECEMBER 31, 2007 <br />CASH FLOWS FROM OPERATING ACTIVITIES <br />Cash Received from Utility Customers <br />Cash Payments to Suppliers for Goods and Services <br />Net Cash. Used by Operating Activities <br />CASH FLOWS FROM INVESTING ACTIVITIES <br />Interest on Investments <br />CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES <br />Transfers In <br />NET INCREASE IN CASH AND CASH EQUIVALENTS <br />Cash and Cash Equivalents - Beginning of Year <br />CASH AND CASH EQUIVALENTS - END.OF YEAR <br />RECONCILIATION OF OPERATING LOSS TO NET <br />CASH USED BY OPERATING ACTIVITIES <br />Operating Loss <br />Adjustments to Reconcile Operating Loss to Net <br />Cash.Used by Operating Activities: <br />Depreciation <br />Changes in Assets. and Liabilities: <br />Customer Accounts Receivable <br />Special Assessments Receivable <br />Prepaid Expenses. <br />Accounts Payable <br />Net Cash used by Operating Activities <br />Sewer <br />Utility <br />$ 46, 702. <br />(52;992) <br />(61290) <br />61641 <br />5,000 <br />5,351 <br />121,019 <br />126 370 <br />$ (11,532). <br />11,416 <br />(3;747) <br />(1,723) <br />(278) <br />(426). <br />$ (6,290] <br />See accompanying Notes to Basic.Financial. Statements. <br />(13) <br />