Executive VPs Report - 2004/11
Contact
- Doug Holland
- AMA Executive VP
- 3517 Fernwood Dr., Raleigh, NC 27612
- Home: (919) 787-5163
- Office: (919) 787-7454
Statement of Cash Flows
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 shows the increase or decrease in cash over the year.
Operating Activities
Looking at the line "Net Cash Provided by Operating Activity" for 2003 vs 2002, you will see a substantial increase. The net increase over last year is $471,241. That number is derived by subtracting $883,883 (2002) from $1,355,124 (2003).
Investing Activities
Investing activities show income and expenditures related to property, equipment, and marketable securities. This year we spent more on investments than we received from the sale of those investments.
Financing Activities
Our financing activities reflect principal payments on our bond issue. This continues to be a good financing arrangement: we are paying 1.2% interest and, with the addition of fees, it equals roughly 4%. It is a floating rate that must be monitored closely; it can be switched to a fixed rate, but that is not a consideration at this time.
Cash Position
Cash equivalents for 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.
Closing
Until later ...
Transcribed from original scans by AI. Minor OCR errors may remain.
