Combining statements of cash flows.

California Society of Certified Public Accountants

California Certified Public Accountants Education Foundation

April 30, 2011 and 2010

(Amounts Expressed In Thousands)

2011 Combined Society Foundation Eliminations Total OPERATING ACTIVITIES: Change in Net Assets $ 3,338 $ 2,312 S -- $ 5,650 Reconciliation of Change in Net Assets to Cash Provided by Operating Activities: Net Realized and Unrealized Gain on Investments (1,562) (914) -- (2,476) Depreciation and 324 132 -- 456 Amortization Loss on Disposal of Property and Equipment 2 4 -- 6 Changes in Operating Assets and Liabilities: Accounts Receivable, 22 5 -- 27 Net Other Receivables (119) 8 -- (111) Receivables-Affiliates (17) -- -- (17) Due From Foundation (222) -- 222 -- Prepaid Expenses and (12) 1 -- (11) Other Accounts Payable 274 (25) -- 249 Accrued Expenses 66 (112) -- (46) Due to Society -- 222 (222) -- Deferred Revenues (586) (48) -- (634) Deferred Lease Costs 38 99 -- 137 Net Cash Provided by 1,546 1,684 -- 3,230 Operating Activities INVESTING ACTIVITIES Purchases of (12,811) (2,326) -- (15,137) Investments Proceeds on Sales of 10,306 2,169 -- 12,475 Investments Purchases of Property (414) (307) -- (721) and Equipment Net Cash Used in (2,919) (464) -- (3,383) Investing Activities NET INCREASE (DECREASE) (1,373) 1,220 -- (153) IN CASH AND EQUIVALENTS CASH AND EQUIVALENTS Beginning of Year 7,617 3,935 -- 11,552 END OF YEAR $ 6,244 $ 5,155 $ -- $ 11,399 SUPPLEMENTAL DISCLOSURE Non Cash Investing and Financing Activities Leasehold Improvements Paid for by Lessor Property and Equipment $ 1,81 $ -- $ -- $ 1,816 Deferred Lease Costs $ $ -- $ -- $ (1,816) (1,816) 2010 Combined Society Foundation Eliminations Total...