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Exhibit 8
<br />Cabarrus County, North Carolin
<br />a
<br />Statement of Cash Flows
<br />Proprietary Funds
<br />For the Year Ended June 30, 2012
<br />Business-typGovernmental
<br />e
<br />ctivitiesctivities
<br />A-A-
<br />LandfillInternal
<br />Enterprise Service
<br />FundFunds
<br />Cash flows from operating activities:
<br />Cash received from customers$ 1,086,454$ 96,067
<br />Cash received from departments - 8,172,748
<br />Cash paid to employees (269,232) -
<br />Cash paid to suppliers for goods and services (639,489) (10,600,976)
<br /> Net cash used for operating activities 177,733 (2,332,161)
<br />Cash flows from non-capital and related financing activities:
<br />Transfers from other funds - 2,000,000
<br /> Net cash provided by non-capital financing activities - 2,000,000
<br />Cash flows from investing activities:
<br />Interest received on investments 6,583 5,365
<br /> Net cash provided by investing activities 6,583 5,365
<br />Net increase (decrease) in cash and cash equivalents
<br /> 184,316 (326,796)
<br />Cash and cash equivalents, July 1 3,349,072 4,443,772
<br />Cash and cash equivalents, June 30$ 3,533,388$ 4,116,976
<br />Reconciliation of operating income (loss) to net cash
<br /> provided by (used for) operating activities:
<br />Operating income (loss)$ (392,321)$ (2,919,446)
<br /> Depreciation expense 351,174 -
<br /> Other non-operating items 366,491 96,067
<br />(Increase) decrease in accounts receivable (409) (84,556)
<br />(Increase) decrease in customers receivable 15,726 -
<br />(Increase) decrease in prepaid rent - -
<br />Increase (decrease) in accounts payable and
<br /> accrued liabilities 5,051 575,774
<br /> Increase (decrease) in landfill closure and post closure care cost (173,914) -
<br />Increase (decrease) in OPEB payable 7,487 -
<br />Increase (decrease) in compensated absences payable (1,552) -
<br />Total adjustments 570,054 587,285
<br />Net cash provided by (used for) operating activities$ 177,733$ (2,332,161)
<br />Non-cash capital and related financing activities:
<br /> Nonoperating expense - loss on disposal$ (25,615)$ -
<br />The notes to the financial statements are an integral part of this statement.
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