United States Government Accountability Office GAO May 2008 Report to the Congress_part2 ppt

Financial Statements Page 11 GAO-08-715 Congressional Award Foundation Statements of Cash Flows 2007 2006 Cash flows from operating activities: Increase/(decrease) in net assets 116,338$ (43,705)$ Adjustments to reconcile change in net assets to net cash from operating activities: Depreciation and amortization 4,853 3,823 Net unrealized losses on investments 3,776 14,343 Net realized gains on sale of investments (13,569) (8,823) Interest income on certificate of deposit and trust fund (3,131) (1,939) Change in operating assets: Contributions receivable (81,300) (6,300) Prepaid expenses 370 (92) Change in operating liabilities: Accounts payable 3,420 (4,575) Accrued payroll, related taxes and leave (10,348) 7,806 Liability for tax penalty and interest (483) 3,800 Net cash provided/(used) in operating activities 19,926 (35,662) Cash flows from investing activities: Purchase of computer equipment (8,098) 0 Proceeds from sale of investments 20,000 14,159 Net cash provided by investing activities 11,902 14,159 Cash flows from financing activities: Principal payments under capital lease obligation (1,795) 0 Proceeds from loans 0 27,821 Repayment of loans (22,657) (4,500) Net cash (used)/provided by financing activities (24,452) 23,321 Net increase in cash and cash equivalents 7,376 1,818 Cash and cash equivalents, beginning of year 8,561 6,743 C as h an d cas h equ i va l en t s, en d o f yea r 15,937$ 8,561$ Supplemental data: Cash paid during year for interes t 12,590$ 8,727$ Supplemental data on noncash investing and financing activities: A capital lease obligation of $20,129 was incurred when the Foundation entered into a lease for new equipment. The accompanying notes are an integral part of these financial statements. The Congressional Award Foundation Statements of Cash Flows For the Fiscal Years Ended September 30, 2007, and 2006 This is trial version www.adultpdf.com GAO’s Mission The Government Accountability Office, the audit, evaluation, and investigative arm of Congress, exists to support Congress in meeting its constitutional responsibilities and to help improve the performance and accountability of the federal government for the American people. GAO examines the use of public funds; evaluates federal programs and policies; and provides analyses, recommendations, and other assistance to help Congress make informed oversight, policy, and funding decisions. GAO's commitment to good government is reflected in its core values of accountability, integrity, and reliability. Obtaining Copies of GAO Reports and Testimony The fastest and easiest way to obtain copies of GAO documents at no cost is through GAO’s Web site (www.gao.gov). Each weekday, GAO posts newly released reports, testimony, and correspondence on its Web site. To have GAO e-mail you a list of newly posted products every afternoon, go to www.gao.gov and select “E-mail Updates.” Order by Mail or Phone The first copy of each printed report is free. Additional copies are $2 each. A check or money order should be made out to the Superintendent of Documents. GAO also accepts VISA and Mastercard. Orders for 100 or more copies mailed to a single address are discounted 25 percent. Orders should be sent to: U.S. Government Accountability Office 441 G Street NW, Room LM Washington, D.C. 20548 To order by Phone: Voice: (202) 512-6000 TDD: (202) 512-2537 Fax: (202) 512-6061 To Report Fraud, Waste, and Abuse in Federal Programs Contact: Web site: www.gao.gov/fraudnet/fraudnet.htm E-mail: fraudnet@gao.gov Automated answering system: (800) 424-5454 or (202) 512-7470 Congressional Relations Ralph Dawn, Managing Director, dawnr@gao.gov, (202) 512-4400 U.S. Government Accountability Office, 441 G Street NW, Room 7125 Washington, D.C. 20548 Public Affairs Chuck Young, Managing Director, youngc1@gao.gov, (202) 512-4800 U.S. Government Accountability Office, 441 G Street NW, Room 7149 Washington, D.C. 20548 This is trial version www.adultpdf.com . investigative arm of Congress, exists to support Congress in meeting its constitutional responsibilities and to help improve the performance and accountability of the federal government for the American. U.S. Government Accountability Office, 441 G Street NW, Room 7125 Washington, D.C. 20548 Public Affairs Chuck Young, Managing Director, youngc1 @gao. gov, (202) 512-4800 U.S. Government Accountability. decisions. GAO& apos;s commitment to good government is reflected in its core values of accountability, integrity, and reliability. Obtaining Copies of GAO Reports and Testimony The fastest