valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Fair values of assets measured on a recurring basis at March 31, 2011 and
2010 are as follows: Fair Value
March 31, 2011 Investment Securities Totals at Fair Value
March 31, 2010 Investment Securities Totals at Fair Value
$7,024,364 $7,024,364
___________
$6,598,456 $6,598,456
___________
Quoted Prices In Active Markets for Identical Assets (Level 1)
$7,024,364 $7,024,364
___________
$6,598,456 $6,598,456
___________
16. SUBSEQUENT EVENTS Management has evaluated all events subsequent to the Statement of
Financial Position date of March 31, 2011 through August 5, 2011 which is the date these financial statements were available to be issued, and have determined that there are no subsequent events that require adjustment or disclosure.
NEW YORK STATE PUBLIC EMPLOYEES FEDERATION AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED MARCH 31, 2011 AND 2010 2011
Cash Flows From Operating Activities Change in net assets
Adjustments to reconcile change in net assets to net cash provided (used) by operating activities
Depreciation
Forgiveness of portion of American Federation of Teachers judgment Net unrealized and realized (gains) losses (Gain) Loss on sale of fixed assets
(Increase) Decrease in assets: Membership dues and agency shop fees receivable Other receivables Prepaid expenses Other assets
Increase (Decrease) in liabilities: Accounts payable and accrued expenses Earned organizational leave Accrued vacation
Accrued postretirement benefits Divisional distributions payable Deferred revenue
Net Cash Provided by Operating Activities
Cash Flows From Investing Activities Purchase of investments
Proceeds from sale of investments Proceeds from sale of fixed assets
Expenditures for property, plant and equipment Net Cash Provided by Investing Activities
Cash Flows From Financing Activities Principal payments on capital leases payable
Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents, Beginning of Year Cash and Cash Equivalents, End of Year
Supplemental Information: Cash paid for interest
258,392
(814,488) (452,296) –
(129,332) (259,765) 303,634
(294,075) 200,680
(85,005) (1,968)
3,144,720 155,960 (7,005)
1,207,815
(2,456,614) 2,546,408 –
(68,997) 20,797
(107,373) 1,121,239 3,277,791
$ 4,399,030 _________ $_________ 26,606 329,752
(814,488) (549,025) (28)
725,430 329,982
(307,958) (162,149)
(69,411) 147,558 144,475
1,652,190 (48,307) 5,315
1,243,453
(3,173,445) 3,275,114 30
(39,483) 62,216
(100,383) 1,205,286 2,072,505
$ 3,277,791 _________ $_________ See accompanying notes to consolidated f inancial statements. Page 26—The Communicator October 2011 33,596
www.pef.org
www.thecommunicator.org PEF Information Line: 1-800-553-2445
$ (811,637) 2010 $ (139,883)
NEW YORK STATE PUBLIC EMPLOYEES FEDERATION AND SUBSIDIARY
CONSOLIDATED DETAIL OF EXPENSES
FOR THE YEARS ENDED MARCH 31, 2011 AND 2010 2011
Salary and Benefit Expenses Salaries
Union leave
Pension expense Health insurance Payroll taxes
Tuition reimbursement Term life insurance Dependent care 401(k) plan
Long-term disability Total
Staff Travel and Related Expenses Staff travel
Automobile expense Total
Program Related Expenses Program related travel
Earned organizational leave Total
Operating Expenses Advertising
Postage
Change in net assets Office rent and parking
$10,705,860 687,622
1,423,494 4,602,447 930,970 7,026
169,569 29,615
399,197 56,006
$19,011,806 __________
$233,699 283,644
$ 517,343 __________
$ 2,393,551 630,378
$ 3,023,929 __________
Professional and consultant fees Depreciation
Adjustments to reconcile change in net assets to net cash provided (used) by operating activities 258,39 329,752
Net unrealized and realized (gains) losses (452,296) Telephone and communications
Political and associated contributions Printing
Arbitration
Office supplies Reproduction
Forgiveness of portion of American Federation of Teachers judgment
(Gain) Loss on sale of fixed assets
UtilitiesPrepaid expenses Real estate taxes
Maintenance and repairs Other assets
(Increase) Decrease in assets: Membership dues and agency shop fees receivable (129,332) Other receivables
$ (811,637) $ 870,138 760,723 479,708 457,727 423,210 264,552 276,193 228,354 100,686 82,941
(814,488)
(259,765) 303,634
(294,075)
Charitable and other contributions Insurance
Computer fees Miscellaneous Scholarships
117,156 43,848
Books and reference material (1,968) 144,475118,108 Janitorial
(85,005)84,890
Divisional distributions payable Deferred revenue
Steno and transcript fees OutCside temporary hires Minor equipment purchases Equipment rental ide l gal fees
Accrued postretirement benefits 3,144,72081,338 91,956
155,960 (7,005) 5,315 28,903
ash Flows F om Investing Activities Purchase of investments (2,456,614) Proceeds from sale of investments
OutsProceeds from sale of fixed assets Photograph c supplies COPE expense Total
Net Cash Provided by Operating Activities42,000 23,383 49,313 22,878 2,715 –
Expenditures for property, plant and equipment See accomp nying n tes to consolidated financial statements.
Cash Flows From Financing Activities Principal payments on capital leases payable
Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents, Beginning of Year
Supplemental Information: Cash paid for interest $ 26,606$ 33,596
(107,373) 1,121,239
Cash and Cash Equivalents, End of Year $ 4,399,030
Increase (Decrease) in liabilities: Accounts payable and accrued expenses 200,680(69,411) Earned organizational leave Accrued vacation
(162,149)106,084 105,596
329,982 (307,958)
(814,488) –
(28) $ (139,883) 2010
$10,389,682 623,203
1,420,569 2,608,481 853,795 7,926
161,152 31,680
395,551 56,839
$16,548,878 __________
$213,786 273,189
__________ $ 486,975
$ 1,947,250 514,719
__________ $ 2,461,969
$426,003 738,720 535,414 359,307 274,137 294,597 268,671 178,682 105,242 106,569 89,345 97,188
144,173 43,654
147,55877,587 110,652
1,652,19079,438 (48,307)67,463 19,533
(3,173,445) 2,546,408
18,502 1,854
120,513 __________ 30
1,207,81542,000 23,846 15,274 28,549
Net Cash Provided by Investing Activities 20,797 62,216 105,089 $ 5,003,269
(68,997) 1,768 $ 4,238,736
__________
(100,383 1,205,28
3,277,791 $ 3,277,791 1,243,45
2 833,275,114 3,000
(39,483)
(549,025) 725,430
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