STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

12 Months Ended

Jul. 31, 2022

Supplemental Cash Flow Elements [Abstract]

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

The amount of cash, cash equivalents and restricted cash as of July 31, 2022 and 2021 in the consolidated statements of cash flows is reconciled to the Company's consolidated balance sheets as follows:

	July 31,
	2022		2021
	(In thousands)
Cash and cash equivalents	$	53,142	$	58,117
Funds held for clients	4,903		8,212
Cash, cash equivalents and restricted cash	$	58,045	$	66,329

Cash used for operating activities reflect cash payments for interest and income taxes as follows:

	Fiscal Year Ended July 31,
	2022		2021
	(In thousands)
Cash paid for interest	$	1,237	$	1,262
Cash paid for income taxes	$	2,364	$	3,241

Cash paid for taxes can be lower than income tax expense as shown on the Company's consolidated statements of operations due to the timing of required payments in relation to recorded expense, which can cross fiscal years.

Non-Cash Activities

Non-cash financing activities during the fiscal years ended July 31, 2022 and 2021 included the issuance of approximately 0.5 million and 0.4 million shares, respectively, of non-vested common stock, valued at approximately $0.7 million and $0.6 million, respectively, to certain employees and non-employees of the Company.