December 31, 2018 with comparative figures for 2017 (in thousands of dollars)

 

Year ended
December 31, 2018

Year ended
December 31, 2017

Cash Flows from Operating Activities

   

Administrative Fund

   
Cash received from:    
Investment income
$
4,180
$
3,750
Administrative Assessment 5,994 5,994
Other income 3
Cash used for:    
Salaries and employee benefits (3,122) (3,037)
Professional and directors’ fees (959) (690)
Supplies and services (1,364) (1,467)

Liquidity Fund

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

Cash provided from Operating Activities

19,929 19,753

Cash Flows from Investing Activities

   
Sale and Maturity of bonds 30,955 22,400
Purchase of bonds (49,523) (39,778)
Purchase of Exchange Traded Funds (4,388)
Cash used to purchase property and equipment (142) (611)

Net Cash used for Investing Activities

(18,710) (22,377)
Increase (Decrease) in Cash and Cash Equivalents 1,219 (2,625)
Cash and cash equivalents, beginning of the year 894 3,519

Cash and Cash Equivalents, end of the year

2,113 894

The accompanying notes are an integral part of these consolidated financial statements