2 2 Sarasota County, Florida Statement of Cash Flows-Continued Proprietary Funds For the Year Ended September 30, 2021 Business-type Activities Enterprise Funds Major Major Utility Solid Waste System System Reconciliation of operating income (loss) to net cash provided (used) by operating activities: Operating income (loss) $ 17,917,817 $ 7,220,115 Adjustments to reconcile operating income to net cash provided by (used for) operating activities: Depreciation and amortization expense 30,510,302 3,081,302 Interest expense on customer deposits (112,215) - (Increase) decrease in accounts receivable 1,115,988 118,750 (Increase) decrease in intergovernmental receivable 4,971 (54,955) (Increase) decrease in inventories - - (Increase) decrease in prepaid items - - (Increase) decrease in OPEB assets held in trust (90,110) (12,028) (Increase) decrease in deferred outflows for pensions 1,272,206 250,427 (Increase) decrease in deferred outflows for OPEB 4,384 1,880 Increase (decrease) in vouchers payable (895,994) 24,878 Increase (decrease) in wages and benefits payable 93,927 683 Increase (decrease) in contracts and retainage payable 1,190,856 (1,026,059) Increase (decrease) in net pension liability (8,311,768) (1,404,586) Increase (decrease) in compensated absences (12,588) (17,269) Increase (decrease) in claims and judgements payable - - Increase (decrease) in intergovernmental payable (9) 42,935 Increase (decrease) in customer deposits payable 725,609 18,655 Increase (decrease) in landfill closure liability - 2,808,286 Increase (decrease) in deferred inflows for pensions 6,976,979 961,436 Increase (decrease) in deferred inflows for OPEB 30,611 2,573 Total adjustments 32,503,149 4,796,908 Net cash provided by (used for) operating activities $ 50,420,966 $ 12,017,023 Non-cash investing, capital and financing activities: Contributed capital assets $ 716 $ - Contributed capital assets from developers 16,636,596 - Transfers of capital assets to other funds - - Change in fair value of investments 956,879 522,179 Payables related to capital asset acquisition 330,831 830,016 Receivables related to capital asset acquisition 21,439 - The notes to the financial statements are an integral part of this statement. 74
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