I AM PRESENTING the Statements of
Cash Flows this month. This statement
compiles all the operating, investing, and
financing activities of AMA for the past
year and consequently shows the
increase/decrease in cash over the year.
Looking at the line Net Cash Provided
by Operating Activity for 2003/2002, you
will see a substantial increase. The net
increase over last year is $471,241. That
number does not appear on the statement
but is arrived at by subtracting the
$883,883 from the $1,355,124 for the year
2003.
Investing Activities shows income and
expenditures of property and equipment
and stock market investments. This year we
spent more toward investments than we
made on the sale of those investments.
Our financing activities are the principle
payments on our bond issue. This continues
to be a good financing arrangement as we
are paying 1.2% interest and with the
addition of fees it equals roughly 4%. It is a
floating rate which has to be monitored
closely and can be switched to a fixed rate
but that is not a consideration at this time.
The cash equivalents for the year 2003
increased over 2002 by $557,438. Our cash
position remains strong and AMA
continues to grow in life memberships and
enrollment.
Note: It is important to continue your
education because the man who knows how
to do something will always have a job; the
man who knows why to do it will always
be his boss.
A-B-C Always Be Courteous.
Until later ...
Edition: Model Aviation - 2004/11
Page Numbers: 149