NATIONAL OILHEAT RESEARCH ALLIANCE, INC.
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
2017 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Change in net assets $ 875,882 $ 177,029
Adjustments to reconcile change in unrestricted net assets
to net change in cash from operating activities:
Depreciation and amortization 31,064 24,029
Changes in assets and liabilities:
Assessments receivable ( 168,978) ( 298,766)
Prepaid state assessments ( 149,571) ( 67,789)
Other current assets 11,332 376,961
Accounts payable 385,975 414,221
Refunds payable ( 74,006) 68,167
State grants payable ( 712,752) 597,677
Obligation for unallocated state rebates ( 315,060) 616,488
State grant rebates remaining under NORA Public Law 106-469 - ( 601,592)
Other current liabilities 10,239 ( 12,921)
Other noncurrent liabilities 1,139 9,657
Net change in cash from operating activities ( 104,736) 1,303,161
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment - ( 64,807)
NET CHANGE IN CASH ( 104,736) 1,238,354
CASH, BEGINNING OF YEAR 9,448,186 8,209,832
CASH, END OF YEAR $ 9,343,450 $ 9,448,186
The accompanying notes are an integral part of these financial statements.
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