Explanation of Operating Cash Flows for the quarter ending 30...

Explanation of Operating Cash Flows for the quarter ending 30 September 2012
Development costs in progressing wind projects and the construction of the first 5MW of Italian solar projects completed in June are included in development costs expenditure of $2,700,000 above. Of this, $923,000 was directly funded using the Group’s construction finance facility (draw down shown in Financing cash flows).
Excluding these development costs, net operating cash inflow for the quarter was $937,000.
Since the end of the quarter, the group has received a cash payment of approximately $7,000,000 (net of GST) for development fees and reimbursement of costs previously incurred in progressing the development of the Taralga wind farm project.
Staff costs include termination payments made during the recent restructuring program of the Australian Solar business. Annual salary savings in the region of $3.5m are anticipated from these changes.