Page 5 University of Technology, Jamaica Statement of Cash Flows Year ended 31 March 2020 (expressed in Jamaican dollars unless otherwise indicated) Note 2020 Restated 2019 $’000 $’000 Cash Flows from Operating Activities Net (loss)/surplus for year (771,998) 147,614 Adjustments for: Depreciation- Property, plant and equipment 11 332,879 315,311 Depreciation- Right of use assets 12 7,027 - Amortisation of intangible assets 13 3,257 7,733 Gain on disposal of property, plant and equipment (4,394) (1,899) Post-employment benefits obligation 134,578 157,170 Exchange (gains)/losses on foreign balances (118,247) 24,635 Finance cost 7,712 - Amortisation of capital grants 5 (80,607) (81,011) Interest income 9 (65,765) (72,430) (555,558) 497,123 Changes in operating assets and liabilities - Inventories (17,618) (3,532) Accounts receivables (193,617) (49,262) Taxation recoverable (15,090) (781) Payables 410,612 (60,903) Designated receipts 113,305 (31,797) Deferred income (20,223) (203,309) (278,189) 147,539 Interest received 54,039 60,520 Net cash (used in)/provided by operating activities (224,150) 208,059 Cash Flows from Investment Activities Proceeds from disposal of property, plant and equipment 8,815 5,666 Purchase of property, plant and equipment 11 (182,297) (309,772) Long term investments, net 83,373 86,270 Short term investments, net (548,281) 1,364,284 Net cash (used in)/provided by investing activities (638,390) 1,146,448 Cash Flows from Financing Activities Specified projects 61,738 (40,326) Capital grants (365) 20,760 Lease payments (13,639) - Endowment funds (41) (4,288) Net cash provided by/(used in) provided by financing activities 47,693 (23,854) (Decrease)/Increase in cash and cash equivalents (814,847) 1,330,653 Effects of exchange rate changes on cash and cash equivalents (6,467) (7,929) Cash and cash equivalents at beginning of year 1,556,122 233,398 CASH AND CASH EQUIVALENTS AT END OF YEAR 19 734,808 1,556,122 University of Technology, Jamaica 121
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