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Statements of Cash Flows

Years ended December 31, 2012 and 2011 (in Thousands of Dollars)

2012 2011 NextGen

SD Tech Biofuels

Fund Fund Total Total

Cash provided by (used in):

Operating activities: Excess of revenue over

expenses $ –    $ –   $ –   $ – Items not involving cash:

Amortization of capital assets 283 29 312 292 Recognition of deferred

contributions (78,286) (1,991) (80,277) (95,029) Investment Income 3,932 630 4,562 9,273 Investment fund management

fees paid (262) (58) (320) (417) Changes in non-cash operating

working capital items (1,035) 434 (601) (266) (75,368) (956) (76,324) (86,147) Capital activities:

Purchase of capital assets (57) (2) (59) (259)

Financing activities:

Sales (purchases) of investments

- net 81,201 (559) 80,642 85,137

Increase (decrease) in cash 5,776 (1,517) 4,259 (1,269)

Cash, beginning of year 2,870 4,990 7,860 9,129

Cash, end of year $ 8,646 $ 3,473 $ 12,119 $ 7,860

See accompanying notes to financial statements.

26 SDTC 2012 Annual Report

Auditors’ Report & Financials

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