. "Statements of Financial Position." Report of the Treasurer of the National Academy of Sciences: For the Year Ended December 31, 2009. Washington, DC: The National Academies Press, 2010.
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Report of the Treasurer of the National Academy of Sciences
Statements of Cash FlowsYears ended December 31, 2009 and 2008(Dollars in thousands)
2009
2008
Cash flows from operating activities:
Change in net assets
$ 62,695
$ (173,017)
Adjustments to reconcile change in net assets to net cash provided by (used in) operating activities:
Depreciation and amortization
7,632
7,162
Loss on disposal of property and equipment
140
84
Bad debt expense
192
533
Net loss (gain) on investments
(70,998)
165,904
Net loss (gain) on investments held on behalf of others
(1,600)
3,765
Amounts collected on behalf of others
(5,490)
(2,723)
Amounts remitted on behalf of others
5,320
3,664
Change in value of interest rate swap
(4,301)
9,057
Change in value of split-interest agreements
137
343
Contributions restricted for construction or endowment
(2,791)
(6,645)
(Increase) decrease in assets:
Other receivables
3,744
6,465
Contracts receivable - U.S. government
8,759
(10,220)
Other current assets
(471)
(343)
Other assets
(590)
2,612
Increase (decrease) in liabilities:
Accounts payable and accrued expenses
3,466
7,828
Deferred revenue
(3,391)
4,057
Other current liabilities
(916)
(885)
Funds held on behalf of others
1,608
(4,618)
Other long-term liabilities
(103)
35
Accrued employee benefits
(3,994)
2,718
Net cash provided by (used in) operating activities
(952)
15,776
Cash flows from investing activities:
Additions to property and equipment
(5,911)
(5,910)
Sales or maturities of investments
215,761
231,756
Purchases of investments
(215,234)
(243,624)
Net cash used in investing activities
(5,384)
(17,778)
Cash flows from financing activities:
Contributions restricted for construction or endowment
2,791
6,645
Proceeds from line of credit
139,954
123,426
Payments on line of credit
(140,640)
(126,085)
Payments on bank note
(756)
(757)
Proceeds from interest rate swaption
1,834
-
Proceeds from bond issue
57,500
66,325
Payments on bond principal
(57,070)
(66,645)
Net cash provided by financing activities
3,613
2,909
Net increase (decrease) in cash and cash equivalents
