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<br />NORTH POUDREIRmGATION COMPANY NORTH POUDRE IRmGATION COMPANY
<br />Welllnlrton. Colorado Wellinlrton. Colorado
<br /> Statements of Cash Flows
<br />Statements of Income and Retained Earnlnl!s For The Years Ended October 31. 2001 and 2000
<br />For The Years Ended October 31. 2001 and 2000
<br /> 2001 2000
<br /> 2001 2000 Cash Flows From 01leralinl! Activities
<br />Operatin~ Revenues Net IncOlre (Loss) 36,770 (124.282)
<br />Assessments 600.536 500,546 Adjustments to Reconcile Net IrK:ome to
<br />RecreatDnal Leases 257,450 255,035 Net Cash Provided by Operating Activities:
<br />Other OperatDn IrK:ome 280,962 124,287 DepreciatDn 220,731 203,885
<br />Stock Tramrer Fees 9,208 7,204 Gain on Sale of Assets (3,400) (1,572)
<br />Total Opera!in2 Revenues 1,148,156 887,072 . Decrease (Increase) in Assets:
<br />Operalinl! Expenses Assessments Receivable 8,615 (2,487)
<br />Salaries and Wages 281,679 244,897 Other Accotml Receivable 43,483 (38,507)
<br />DepreciatDn 220,731 203,885 Prepaid Expenses (275) 2,412
<br />Water Purchased and Assessments 125,139 37,302 Increase (Decrease) in Liabilities:
<br />Repairs and Maintenance 117,lll 204,211 AccoUllts Payable 158,260 (55,473)
<br />F.n1lloyee Berefits 33,027 25,512 IrK:ome Taxes Payable 4,442 (51,612)
<br />Payron Taxes 27,084 19,633 Accrued ExpellSes (8,066) 758
<br />lnsuraIK:e 26,751 29.449 Deferred Revenue 94,1l2 45,000
<br />Legal Fees 23,976 19,776 Net Cash Provided (Used) by Operalinl! Activities 554,672 (21,878)
<br />Utilities and Telephone 19,773 15,734 Cash Flows From ~ Activities
<br />Ditch Riders' Expense 18,425 21,455 Net Proceeds From Sale of Assets 3,400 6,000
<br />OflK:e and Other Expense 17,071 14,986 CollectDn of Loans Receivable 54,611 512
<br />Gas and Oil 16,588 15,586 (purchase) Sale ofTreasury Shares (22,000)
<br />Directors' Fees and Expense 16,318 15,921 Purchase of Equipment and Property Assets (395,986) (130,345)
<br />Weed Control 14,545 21,967 Increase in RestR:ted Investments (94,112) (45,000)
<br />VehK:1e and Other Taxes 5,826 5,247 Net Cash Provided (Used) by 1nveslinl! Activities (432,087) (190,833)
<br />Accounting Fees 2,900 2,800
<br />Engineering and Other Fees 2,048 3,382 Cash Flows From Financinl! Activities
<br />Total Operalinl! Expenses 968,992 901,743 Proceeds From Short- Term Debt 120,000 317,000
<br />1rK:om: (Loss) From OperatDns 179,164 (14,671) Repayment of Short- Term Debt (120,000) (317,000)
<br />Other IrK:ome (Expense) Repayment of 1.0118- Term Debt (101,443) (98,946)
<br />Gain on Sale of Assets 3,400 1.572 I Net Cash Provided (Used) by Financinl! Activities (101,443) (98,946)
<br />Interest and Finance Charges 22,642 19,600 Net Chan2e in Cash and Cash Equivalents 21,142 (3 II ,657)
<br />Oil and Gas Royalties 16.223 14,558 Cash and Cash EQuivalents - Be2inninl! of Year 36,655 348,312
<br />Interest Expense (180,217) (188,824) J Cash and Cash EQuivalents - Fnd of Year 57,797 36,655
<br />Total Other IncOlre (Expense) (137,952) (153,094)
<br />Net Income (loss) beiDre Income Taxes 41,212 (167,765)
<br />IrK:ome Tax (Expense) Refund (4,442) 43,483
<br />Net Income (Loss) 36,770 (124,282)
<br />Retaired Eamins1s - Beginning of Year 5,948,499 6,072.781 : I .J.~.
<br />Retained F.amiru1:s - En! of Year (Exhibit I) 5,985,269 5,948,499
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<br />The accompanying notes are an integral part of these financial statements.
<br />Exhibit 2
<br />4
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<br />The accompanying notes are an integral part of these financial statements.
<br />Exhibit 3
<br />5
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<br />14
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<br />15
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