Page 32 - BAA CAFR 2017
P. 32

BIRMINGHAM AIRPORT AUTHORITY
                                         BIRMINGHAM AIRPORT AUTHORITY
                                          STATEMENTS OF CASH FLOWS
                                            STATEMENTS OF NET POSITION
                                      For the years ended June 30, 2017 and 2016
                                          For the years ended June 30, 2017 and 2016
                                                                                     2017             2016
                                                                                  2017              2016
                CASH FLOWS FROM OPERATING ACTIVITIES
                   ASSETS AND DEFERRED OUTFLOWS OF
                   Cash received from customers and tenants               $ 44,465,875      $  43,699,961
                   RESOURCES
                   Cash paid to suppliers for goods and services           (13,816,928)        (15,763,206)
                    CURRENT ASSETS
                   Cash paid for personnel costs                           (12,157,164)        (11,768,869)
                     Unrestricted Assets:
                Net cash provided by operating activities                    18,491,783         16,167,886
                      Cash and cash equivalents                             $ 34,430,543     $  28,488,429
                      Investments                                              25,926,563        20,168,903
                      Grants receivable
                CASH FLOWS FROM CAPITAL AND RELATED                                     -          876,944
                      Accounts receivable (net of allowance for
                 FINANCING ACTIVITIES
                         uncollectibles of $29,002 and $28,376
                   Proceeds from sale of capital assets                           33,013             110,000
                          in 2017 and 2016, respectively)
                                                                                  836,648
                   Acquisition and construction of capital assets           (5,580,353)        (6,748,413)
                                                                                                  1,505,157
                   Receipts from federal grants, passenger facility charges,       36,676             4,765
                      Other accounts receivable
                      and customer facility charges                          15,845,167       17,302,294
                                                                                  519,720
                      Prepaid insurance
                                                                                                   468,723
                   Interest paid on capital debt                            (9,718,550)        (9,746,210)
                                                                                  292,764
                                                                                                   249,349
                      Inventory
                   Principal paid on capital debt                           (6,765,417)        (6,477,757)
                                                                               62,042,914
                          Total unrestricted assets

                                                                                                 51,762,270
                Net cash (used for) capital and related financing activities  (6,186,140)        (5,560,086)
                    Restricted Assets:
                    Passenger Facility Charges Funds:
                CASH FLOWS FROM INVESTING ACTIVITIES
                      Cash and cash equivalents
                                                                                                  1,402,123

                  Proceeds from the sale and maturities of investments          1,624,848        8,200,000
                                                                                      -
                                                                                  736,515
                                                                                                   750,876
                      Accounts receivable
                  Interest received on investments                              239,422          148,828
                     Customer Facility Charges Funds:
                  Purchase of investments                                    (5,757,660)      (5,185,637)
                      Cash and cash equivalents
                  Proceeds from insurance                                      15,935,402        15,375,908
                                                                                 27,283
                                                                                                       -
                                                                                                   669,335
                      Accounts receivable
                                                                                  606,666
                Net cash provided by (used for) investing activities         (5,490,955)        3,163,191
                     Revenue Bond Reserve Funds:
                                                                               28,827,856
                                                                                                 28,545,636
                      Cash and cash equivalents
                Net increase in cash and cash equivalents                     6,814,688             13,770,991
                     Construction Bond Funds:
                Cash and cash equivalents, beginning of the year             74,437,666       60,666,675
                                                                                                   625,570
                                                                                  433,705
                      Cash and cash equivalents
                      Accrued interest receivable                                     591              770
                Cash and cash equivalents, end of the year                $ 81,252,354      $  74,437,666

                                                                                                 47,370,218
                          Total restricted assets
                                                                               48,165,583
                          Total current assets                                110,208,497        99,132,488
                                                                                            $   28,488,429
                Cash and cash equivalents – Unrestricted Assets           $   34,430,543

                Cash and cash equivalents – Restricted Assets                46,821,811        45,949,237
                   NON-CURRENT ASSETS
                                                                          $   81,252,354     $   74,437,666
                     Capital assets, net of accumulated depreciation          535,130,387      546,546,871
                          Total non-current assets                            535,130,387      546,546,871
                          Total assets                                        645,338,884      645,679,359
                   DEFERRED OUTFLOWS OF RESOURCES
                      Deferred refunding                                          748,721          922,047
                      Deferred outflow of resources related to pension         12,441,871        16,936,480

                          Total deferred outflows of resources                 13,190,592        17,858,527
                   TOTAL ASSETS AND DEFERRED OUTFLOWS
                      OF RESOURCES                                          $ 658,529,476    $ 663,537,886
                                    See Accompanying Notes to the Financial Statements.                 11
                                 See Accompanying Notes to the Financial Statements.                 14
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