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CITY OF MOUNDS VIEW, MINNESOTA <br /> Exhibit 3 <br /> WA1 R ENTERPRISE FUND <br /> PROJECTED STATEMENT OF CASH FLOWS • <br /> For the years ending December 31, 1990, 1991, 1992, 1993 and 1994 <br /> • <br /> DISCUSS Q ' 1 <br /> !nt rnai Use Or <br /> ( o Author7eri +r <br /> 1990 1991 1992 1993 1994 <br /> Cash Flows from Operating Activities: <br /> Operating(Loss) ($70,404) ($117,574) ($58,035) ($40,618) (S23,843) <br /> Adjustments to reconcile operating income <br /> to net cash provided by operating activities: <br /> Depreciation 129,816 156,801 184,186 190,160 194,640 <br /> Decrease(increase) in receivables 7,051 (6,153) (11,894) (6,304) (12,165) <br /> Increase(decrease)in payables (4.070) (2.272) (2.141) (2.003) (1.858) <br /> Net cash used by operating activities 62.393 30.802 112.116 141.235 156.774 <br /> Cash flows from capital and related financing <br /> activities: <br /> Acquisition of capital assets (15,940) (2,404,910) (52,700) (74,600) (5,000) <br /> Bond proceeds 2,390,000 <br /> Gain on sale of assets 5,000 5,250 5,513 5,789 6,078 0 <br /> Principal paid on revenue bond maturities (55,000) (55,000) (55,000) (60;000) <br /> Interest and paying agent fees (83.850) (163.300) (158.750) (153.850) <br /> Net cash used by capital and <br /> related financing activities (10.940) (148.510) (265.487) (282.561) (212.772) <br /> Cash flows from investing activities: <br /> Interest on investments 112.349 118.096 116.830 114.617 115.774 <br /> Net increase(decrease)in cash 163,802 388 (36,541) (26,709) 59,776 <br /> Cash and investments-January 1 1.523,085 1.686.887 1.687.275 1.650.734 1.624.025 <br /> Cash and investments-December 31 $1.686,887 $1.687.275 51.650.734 $1,624;025 $1.683.801 <br /> • <br />