Consolidated Statements of Cash Flows

December 31, 2019 with comparative figures for 2018

(in thousands of dollars)

Year ended
December 31, 2019

Year ended
December 31, 2018

Cash Flows from Operating Activities

   

Administrative Fund

   
Cash received from:    
Investment income
$

4,531

$

4,180

Administrative Assessment 5,994 5,994
Other income 3
Cash used for:    
Salaries and employee benefits (3,281) (3,122)
Professional and directors’ fees (1,075) (959)
Supplies and services (1,352) (1,364)

Liquidity Fund

   
Cash received from:    
Specific Assessment 15,200 15,200

Cash provided from Operating Activities

20,020 19,929

Cash Flows from Investing Activities

   
Sale and Maturity of bonds 31,685 30,955
Purchase of bonds (49,939) (49,523)
Purchase of Exchange Traded Funds (2,791)
Cash used to purchase property and equipment (16) (142)

Net Cash used for Investing Activities

(21,061) (18,710)

Cash Flows from Financing Activities

   
Lease liability – principal portion (144)
Increase (Decrease) in Cash and Cash Equivalents (1,185) 1,219
Cash and cash equivalents, beginning of the year 2,113 894

Cash and Cash Equivalents, end of the year

928 2,113