Kentucky State University
Statement of Cash Flows
Period Ending August 31, 2012 and 2011
(Unaudited)
| Reconciliation of net operating loss to net cash from operating activities | | |
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| Operating loss | 1,625,777 | 7,874,179 |
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| Adjustments to reconcile operating income to net cash from operating activities: | | |
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| Depreciation expense | 757,771 | 732,283 |
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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 | (2,863,736) | (12,763,297) |
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| Inventory and prepaid expenses | (13,941) | 285,237 |
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| Accounts payable and accrued liabilities | (2,160,778) | 137,135 |
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| Accrued compensated absences | - | (259,037) |
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| Other Liabilities | (901,223) | 38,331 |
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| Deferred revenue | (421,383) | 235,730 |
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| Net cash from operating activities | (3,977,513) | (3,719,439) |
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