June 17, 2014 - by

Page 18 – FSU Athletics Annual Report






Page 18 – FSU Athletics Annual Report



Florida State University Department of Intercollegiate Athletics

fINANCIAL STATEMENTS


Statements of Cash Flows



For the Years Ended June 30, 2013 and 2012


2013

2012

Cash Flows from Operating Activities
Receipts from ticket sales
$
17,929,931
$
20,108,486
Receipts from conference distributions
18,489,591
16,955,320
Receipts from student athletic fees
7,859,734
7,778,862
Receipts from sponsorships
5,155,093
4,705,204
Receipts from game guarantees
414,200
1,237,000
Receipts from conference and NCAA reimbursements
897,516
725,934
Other receipts
509,160
969,732
Payments to suppliers and others
(30,960,056)
(29,354,146)
Payments to employees
(18,703,503)
(18,303,308)
Payments for scholarships
(9,498,834)
(9,500,158)
Net cash used in operating activities
(7,907,168)
(4,677,074)

Cash Flows from Noncapital Financing Activities
Transfer to University and other departments within University
(2,073,138)
(3,396,957)
Seminole Booster transfer
10,490,472
12,125,000
Net cash provided by noncapital financing activities
8,417,334
8,728,043

Cash Flows from Capital and Related Financing Activities
Purchase of capital assets
(328,094)
(213,882)
Net cash used in financing activities
(328,094)
(213,882)

Cash Flows from Investing Activities
(Increase) decrease in investments
60,142
(4,298,816)
Interest income
138,155
159,378
Net cash provided by (used in) investing activities
198,297
(4,139,438)

Increase (Decrease) in Cash and Cash Equivalents
380,369
(302,351)

Cash and Cash Equivalents,
beginning of year
69,647
371,998

Cash and Cash Equivalents,
end of year

$

450,016

$

69,647

Reconciliation of Operating Loss to Net Cash Used in Operating Activities:
Operating loss
$
(5,766,208)
$
(5,957,722)
Adjustments to reconcile operating loss to net
cash used in operating activities:
Depreciation expense
250,478
271,202
(Increase) decrease in accounts receivable
(427,595)
87,717
(Increase) decrease in due from other funds
243,328
(22,435)
Decrease in prepaid expenses
17,224
93,525
Increase in accounts payable
152,917
52,713
Increase in accrued expenses
135,640
27,820
Increase (decrease) in compensated absences liability
(427,994)
362,510
Increase in due to other funds
296,435
13,150
(Gain) loss on disposal of fixed assets
(8,558)
665,775
Decrease in deferred revenue
(2,372,835)
(271,329)
Total adjustments
(2,140,960)
1,280,648

Net Cash Used in Operating Activities

$

(7,907,168)

$

(4,677,074)

Supplementary Schedule of Noncash Investing and Financing Activities:
The Department received non-cash donations of player supplies and vehicle usage totaling $2,829,750 and $2,681,108 for the years ending June 30, 2013
and 2012, respectively.

The accompanying notes to financial statements are an integral part of these statements.


16


/ Florida State University Department of Intercollegiate Athletics


1…,8,9,10,11,12,13,14,15,16,17


19,20,21,22,23,24,25,26,27,28,…44



Related Articles