Kentucky State University Statement of Cash Flows Period Ending March 31, 2013 (Unaudited)
| Reconciliation of net operating loss to net cash from operating activities | | |
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| Operating loss | (18,773,758) | (22,068,167) |
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| Adjustments to reconcile operating income to net cash from operating activities: | | |
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| Depreciation expense | 3,006,913 | 3,825,120 |
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| Loss on disposal of capital assets | - | - |
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| Changes in assets and liabilities: | | |
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| Receivables, net | (665,129) | (5,602,840) |
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| Inventory and prepaid expenses | (39,326) | 270,084 |
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| Accounts payable and accrued liabilities | (2,188,569) | (1,780,915) |
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| Accrued compensated absences | (1,812) | (71,018) |
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| Other Liabilities | 80,884 | (82,408) |
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| Deferred revenue | (831,001) | (341,636) |
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| Net cash from operating activities | (19,411,798) | (25,851,780) |
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