Overall, Columbia Association appears to be profitable as can be seen from the Increase in Net Assets (Net Income):
FY 2017 $5,102
FY 2018 $4,258
FY 2019 $3,836
Further, CA, like most companies, generated cash from operations after non-cash expenses are added back to the Increase in Net Assets. Non-cash expenses are usually comprised primarily of depreciation, or the reduction of an asset over time due to wear and tear. CA's Cash Generated from Operations (in thousands) is:
FY 2017 $15,232
FY 2018 $17,922
FY 2019 $14,361
CA then used the cash for debt service which averaged $1.5 million to $2 million annually and Capital Spending (in thousands) as follows:
FY 2017 ($12,281)
FY 2018 ($23,774)
FY 2019 ($20,275)
The resulting Cash (Shortfall) Addition (in thousands) for each of these years was:
FY 2017 $1,450
FY 2018 ($7,682)
FY 2019 ($7,316)
And, the resulting short-term balance of the line of credit(in thousands) on April 30th of each of these fiscal year ends was:
FY 2017 0
FY 2018 $5,905
FY 2019 $11,001
This is only an overview of cash flow numbers. Do not jump to any conclusions. The current financial condition of CA is the result of a multitude of factors.
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