What was the reported total of cash and cash equivalents for City Wide in 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
have not been subjected to the auditing procedures applied in the audit of the consolidated financial statements and accordingly, we do not express an opinion or provide any assurance on it.
Kansas City, Missouri March 20, 2025
**City Wide Franchise Com
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the company's consolidated statements of cash flow show that cash and cash equivalents totaled $20,166,393 in 2022. This figure represents the amount of liquid assets readily available to City Wide at the end of that fiscal year.
Cash and cash equivalents are defined in the FDD as liquid investments with original maturities of three months or less. These consist primarily of deposit accounts with financial institutions. Note 1 in the FDD also states that at the end of 2024, City Wide's cash accounts exceeded federally insured limits by approximately $2,991,000.
Prospective franchisees should consider the trend in City Wide's cash and cash equivalents over the three years presented in the FDD to understand the company's financial stability and liquidity. While a high cash balance can indicate financial health, it's important to also assess how efficiently City Wide is utilizing these assets to generate returns.