Report to the Legislature : Financial Audit for the Fiscal Year Ended June 30, ..., Montana State University 2003

Cover Report to the Legislature : Financial Audit for the Fiscal Year Ended June 30, ..., Montana State University 2003
Report to the Legislature : Financial Audit for the Fiscal Year Ended June 30, ..., Montana State University 2003
Montana. Legislature. Legislative Audit Division
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The operating loss was offset by non-cash expenses of $20.5 million, (primarily depreciation and amortization) as well increased funds of $4.7 million.
> Cash on hand as of June ao"* required to fund payroll and related liabilities, payable during the first two weeks of July, increased $3.0 million as compared with the prior June 30^ due to increased compensation-related expenses.
Cash provided/(used) by: Operating activities, net Noncapital financing activities, net Capital and related financi
...ng activities, net Investing activities, net Net increase in cash Cash, beginning of year Cash, end of year 2003 2002 $ (56.2) 92.1 (24.6) (3.4) $ (60.3) 87.3 (20.7) 3.0 7,9 74.9 9.3 65.6 S 82.8 S 74,9 Page A-8 Montana State University (a component unit of the State of Montana) Management's Discussion and Anaiysis As of and For Each of the Two Years Ended June 30, 2003 (continued) > Research-related funds, including indirect cost recoveries, increased $1.1 million, corresponding to the increase in grant activity experienced during 2003.

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