For the year ended 31 December 2004
| In BGN |
Note |
2003 |
2004 |
| Cash flows from operating activities |
|
|
|
| Cash receipts from customers/ donors |
|
2,316,474 |
2,828,015 |
| Cash paid to suppliers and employees |
|
(2,803,293) |
(2,996,592) |
| VAT refunded/(paid) |
|
146,040 |
(15,717) |
| Cash receipts/(payments) from other operating activities |
|
(224,006) |
(244,013) |
| Cash generated from operations |
|
(564,785) |
(428,307) |
| Interest paid |
|
(5,033) |
(5,107) |
| Income taxes paid |
|
(29,820) |
(36,864) |
| Net cash from operating activities |
|
(599,638) |
(470,278) |
| |
|
|
|
| Cash flows from investing activities |
|
|
|
| Proceeds from sale of investments held-to-maturity |
|
588,862 |
602,713 |
| Acquisition of property, plant and equipment |
|
(501,600) |
(141,274) |
| Interest received |
|
40,958 |
93,609 |
| Net cash from investing activities |
|
128,220 |
555,048 |
| |
|
|
|
| Cash flows from financing activities |
|
|
|
| Payment of finance lease liabilities |
|
(5,018)
|
(16,907) |
| Net cash from financing activities |
|
(5,018) |
(16,907) |
| |
|
|
|
| Net increase/(decrease) in cash and cash equivalents |
|
(476,436) |
67,863 |
| Cash and cash equivalents at 1 January |
|
1,540,956
|
1,473,093 |
| Cash and cash equivalents at 31 December |
13 |
1,064,520 |
1,540,956 |
| |
|
|
|
The consolidated statement of cash flows of the Center for the Study of Democracy
is to be read in conjunction with the notes to them and form an integral part
of these statements set out on pages 5 to 27.
|
