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26 | NEUROLOGICAL FOUNDATION Statement of cash flows for the year ended 31 March 2020 in New Zealand Dollars Note 2020 2019 CASH FLOWS FROM OPERATING ACTIVITIES Members' fees and subscriptions 1 5,930 16,092 Donations and other revenue from supporters 1 11,114,262 7,138,648 Other cash receipts from operating activities 916 - Net GST paid (58,630) (58,465) Payments to grantees (3,771,779) (3,531,915) Payments to suppliers and employees (2,680,819) (2,616,396) Payments for professional services (93,006) (41,452) NET CASH INFLOW FROM OPERATING ACTIVITIES 4,516,874 906,512 CASH FLOWS FROM INVESTING ACTIVITIES Interest and Dividends received 2,415,743 2,560,677 Proceeds from disposal of property, plant and equipment - - Proceeds from disposal of investments and term deposits 51,591,779 48,408,578 Payments for purchase of property, plant and equipment (108,245) (20,333) Payments for purchase of investments and term deposits (62,062,289) (44,560,501) NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES (8,163,012) 6,388,421 CASH FLOWS FROM FINANCING ACTIVITIES NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES - - NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (3,646,138) 7,294,933 Cash and cash equivalents at beginning of year 8,140,201 845,268 CASH AND CASH EQUIVALENTS AT THE END OF YEAR 4,494,063 8,140,201 This statement is to be read in conjunction with the notes to the financial statements.