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ORANGE COMMUNITY HOUSING CORPORATION 5 <br />STATEMENT OF CASH FLOWS <br />For the Year Ended June 30, 1991 <br />EXHIBIT C <br />CASH FLOWS FROM OPERATING ACTIVITIES: <br />Excess of support and revenue over expenses <br />$59,716 <br />Adjustments to reconcile excess revenue and <br />support over expense to net cash provided by <br />operating activities: <br />Depreciation <br />679 <br />(Increase) in grant receivable <br />(8,750) <br />Increase in accounts payable <br />249 <br />NET CASH PROVIDED BY OPERATING ACTIVITIES <br />51,894 <br />CASH FLOWS FROM INVESTING ACTIVITIES: <br />4 <br />Capital expenditures <br />(8,701) <br />NET CASH USED BY INVESTING ACTIVITIES <br />(8,701) <br />NET INCREASE IN CASH <br />43,193 <br />CASH AT BEGINNING OF YEAR <br />CASH AT END OF YEAR <br />$43,193 <br />The accompanying Notes to Financial Statements are an integral part of <br />these statements. <br />