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Wisconsin Health and Educational Facilities Authority
Statements of Cash Flows
Years Ended June 30, 2020 and 2019

2020 2019

Cash flows from operating activities
Cash received from others $ 672,115 $ 613,944
Cash paid to vendors for goods and services (213,645) (228,294)
Cash paid to employees for services and benefits (535,977) (564,459)
Net cash used in operating activities (77,507) (178,809)

Cash flows from capital and related financing activities
Purchases of property and equipment (13,112) (3,214)
Net cash used in capital and related financing activities (13,112) (3,214)

Cash flows from investing activities
Purchases of investment securities (280,429) (138,550)
Proceeds from sales and maturities of investment securities 448,643 263,832
Interest received 36,516 33,509
Net cash provided by investing activities 204,730 158,791

Net increase (decrease) in cash and cash equivalents 114,111 (23,232)

Cash and cash equivalents, beginning of year 141,780 165,012

Cash and cash equivalents, end of year $ 255,891 $ 141,780

Reconciliation of operating loss to net cash
used in operating activities

Operating loss $ 86,038 $ (178,503)
Adjustments to reconcile operating loss to
net cash used in operating activities:
Depreciation 15,486 13,819
Effects of changes in operating assets and liabilities:
Accrued annual fees (31,354) (46,335)
Receivables and other assets (9,667) (3,578)
Accounts payable (583) 2,131
Accrued payroll and fringe benefits (1,607) (1,960)
Compensated absences 18,701 5,618
Pension activity (154,521) 29,999

Net cash used in operating activities $ (77,507) $ (178,809)

See accompanying notes to the financial statements.
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