KENTUCKY STATE UNIVERSITY
Statements of Cash Flows, continued
Years ended June 30, 2016 and 2015
| Reconciliation of net operating loss to net cash from operating activities | 2016 | 2015 |
|---|
| Operating loss | $(29,643,853) | $(33,683,645) |
|---|
| Adjustments to reconcile operating loss to net cash from operating activities: | | |
|---|
| Depreciation expense | 4,150,543 | 4,460,222 |
|---|
| Actuarially calculated pension expense | 5,541,176 | 5,342,444 |
|---|
| Bad debt expense | 727,573 | 2,478,056 |
|---|
| Changes in assets and liabilities: | | |
|---|
| Receivables, net | (3,813,157) | 2,223,015 |
|---|
| Deferred outflows | (4,666,446) | (4,390,217) |
|---|
| Inventory and other current assets | 3,869 | 13,368 |
|---|
| Accounts payable and accrued liabilities | 928,625 | 943,342 |
|---|
| Accrued compensation and expenses | (307,472) | (246,535) |
|---|
| Other liabilities | 27,271 | 184,836 |
|---|
| Unearned revenue | 175,719 | (424,779) |
|---|
| Net cash from operating activities | $(26,876,152) | $(23,099,893) |
|---|