Content
Financials
Combined Statements of Cash Flows
| Years ended September 30, | 2010 | 2009 |
|---|---|---|
| Cash flows from operating activities: | ||
| Total change in net assets | $7,203,703 | $(15,006,633) |
| Adjustment to reconcile change in net assets to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 357,541 | 336,488 |
| Provision for doubtful accounts | - | 66,276 |
| Realized losses on investments | - | 120,934 |
| Unrealized losses (gains) on investments | 229,128 | (1,332,245) |
| Interest earned but not received on discount notes | (262,778) | (574,600) |
| Decrease in assets: | ||
| Receivables, net | 13,819,234 | 9,574,023 |
| Prepaid expenses | 7,003,597 | 6,688,049 |
| Increase (decrease) in liabilities: | ||
| Accounts payable and accrued expenses | 527,453 | (620,374) |
| Appropriated grants and contracts payable | (50,855,804) | 6,602,342 |
| Net cash (used in) provided by operating activities | (21,977,926) | 5,854,260 |
| Cash flows from investing activities: | ||
| Equipment purchased | (461,906) | (508,097) |
| Short-term investments purchased | (369,682,500) | (522,190,420) |
| Maturities of short-term investments | 399,882,195 | 539,650,176 |
| Net cash provided by investing activities | 29,737,789 | 16,951,659 |
| Net increase in cash and cash equivalents | 7,759,863 | 22,805,919 |
| Cash and cash equivalents - Beginning of year | 55,326,693 | 32,520,774 |
| Cash and cash equivalents - End of year | $ 63,086,556 | $ 55,326,693 |