83 MILLION IN CASH....? In re Finlay Enterprises, Inc. Case No. 09-14873 through 14880
Debtor Reporting Period: May 2010
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS (1)
Amounts reported should be from the debtor’s books and not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1CONTINUED]
ACCOUNT FISCAL
MAY 2010 CUMULATIVE FILING TO DATE ACTUAL
(TOTAL OF ALL ACCOUNTS)
CASH BEGINNING OF MONTH (2) 83,236,000 5,158,000
RECEIPTS
CASH SALES 279,000 159,063,000
PROCEEDS FROM GORDON BROTHERS FOR LIQUIDATION GUARANTEE 99,709,000
TOTAL RECEIPTS 279,000 258,772,000
DISBURSEMENTS
MERCHANDISE 0 2,414,000
PAYROLL AND PAYROLL TAXES 2,061,000 42,916,000
RENT & OTHER OCCUPANCY 74,000 17,838,000
SALES & OTHER TAXES 227,000 24,867,000
SELLING, GENERAL & ADMINISTRATIVE 220,000 20,260,000
REVOLVER & BOND INTEREST 0 1,914,000
RESTRUCTURING PROFESSIONAL FEES INCLUDING LIQUIDATOR FEES, NET OF COMPANY'S SHARE OF AUGMENT GROSS MARGIN 569,000 6,949,000
LOAN REPAYMENTS TO GE & 2nd LIEN NOTE REPAYMENT 0 62,957,000
FUND LC COLLATERAL 0 3,451,000
TOTAL DISBURSEMENTS 3,151,000 183,566,000
NET CASH FLOW (2,872,000) 75,206,000
(RECEIPTS LESS DISBURSEMENTS)
CASH – END OF MONTH (2) 80,364,000 80,364,000
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS FISCAL
MAY 2010 CUMULATIVE FILING TO DATE ACTUAL (TOTAL OF ALL ACCOUNTS)
LESS: TRANSFERS TO OTHER DEBTOR IN POSSESSION ACCOUNTS 3,151,000 183,566,000
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) 0 0
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES 3,151,000 183,566,000
1 - We track cash receipts and disbursements on a consolidated basis and not by individual bank accounts.
2 - Excludes add back of A/P Overdraft (GAAP adjustment) and credit card receivables.
