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HOUSING FOR NEW HOPE,INC. <br /> STATEMENTS OF CASH FLOWS <br /> FOR THE YEARS ENDED AUGUST 31,2011 AND 2010 <br /> 2011 2010. <br /> Cash flows from operating activities <br /> Change in net assets 210,392 $ 701,287 <br /> Adjustments to reconcile change in net assets <br /> to net cash provided by operating activities <br /> Depreciation 114,658 75,018 <br /> (Gain)loss on disposal of equipment - (100) <br /> Prior period adjustment (44,671) <br /> Changes in current assets and liabilities: <br /> Sales tax receivable (18,746) (533) <br /> SSI client receivable 6,667 <br /> Grants receivable (60,739) (138,306) <br /> Prepaid expenses (3,001) 9,772 <br /> Accounts payable and accrued expenses 64,442 (35,037) <br /> Accrued leave (1,665) 5,196 <br /> . Not cash provided by operating activities 305,341 579,293 <br /> Cash flows from investing activities <br /> Purchases of property and equipment (463,324) (1,486,561) <br /> Not cash used by investing activities (463,324) (1,486,561) <br /> Cash flows from financing activities <br /> Proceeds from long-term debt 147,005 748,185 <br /> Proceeds from(repayment of)line of credit (30,594) 90,675 <br /> Not cash provided by financing activities 116,411 838,860 <br /> NET INCREASE(DECREASE) IN CASH (41,572) (68,408) <br /> Cash-beginning of year 129,104 107,512 <br /> CASH-END OF YEAR $ 87,532 $ 129,104 <br /> Supplemental disclosures <br /> Interest paid 14,129 $ 13,965 <br /> The accompanying notes are an integral part of the financial statements. <br />