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COUNTY OF HAWAII
<br /> Proprietary Funds
<br /> Statement of Cash Flows
<br /> For the Fiscal Year Ended June 30,2007
<br /> Business-type Activities-
<br /> Enterprise Funds
<br /> Kulaimano Ouli Ekahi
<br /> Elderly Affordable
<br /> Housing Housing
<br /> Project Project Total
<br /> Cash Flows from Operating Activities
<br /> Receipts from tenants $ 106,996 $ 230,239 $ 337,235
<br /> Receipts from federal government-HUD 134,211 - 134,211
<br /> Payments to suppliers for goods and services (227,702) (303,363) 531,065
<br /> Net cash provided by(used in)operating activities 13,505 (73,124) (59,619)
<br /> Cash Flows from Capital and Related Financing Activities
<br /> Principal paid on notes payable (23,532) - (23,532)
<br /> Interest paid on notes payable (70,380) - (70,380)
<br /> Purchase of capital assets (3,386) - (3,386)
<br /> Net cash used in capital and related financing activities (97,298) - 97,298
<br /> Cash Flows from Investing Activities
<br /> Purchase of investments (1,400,000) - (1,400,000)
<br /> Proceeds from maturities of investments 1,400,000 - 1,400,000
<br /> Interest on investments 35,464 80 35,544
<br /> Net cash provided by investing activities 35,464 80 35,544
<br /> Net decrease in cash and cash equivalents (48,329) (73,044) (121,373)
<br /> Cash and cash equivalents at beginning of year 355,112 279,813 634,925
<br /> Cash and cash equivalents at end of year $ 306,783 $ 206,769 $ 513,552
<br /> Reconciliation of Operating Loss to Net Cash
<br /> Provided by(Used in)Operating Activities
<br /> Operating loss $ (66,942) $ (80,617) $ (147,559)
<br /> Adjustments to reconcile operating loss to net cash
<br /> provided by(used in)operating activities:
<br /> Depreciation expense 33,666 - 33,666
<br /> Change in assets and liabilities:
<br /> Receivables (1,813) (8,429) (10,242)
<br /> Prepaid expenses (13 8) - (138)
<br /> Accounts and other payables 49,382 15,746 65,128
<br /> Unearned income (650) 176 (474)
<br /> Net cash provided by(used in)operating activities $ 13,505 $ (73,124) $ (59;619
<br /> Supplemental disclosure of cash flow information-Interest paid $ 70,380 $ - $ 70,380
<br /> See accompanying notes to the basic financial statements.
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