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 | ||
|---|---|---|
| Operating loss | 1,625,777 | 7,874,179 |
| Adjustments to reconcile operating income to net cash from operating activities: | ||
| Depreciation expense | 757,771 | 732,283 |
| Loss on disposal of capital assets | - | - |
| Changes in assets and liabilities: | ||
| Receivables, net | (2,863,736) | (12,763,297) |
| Inventory and prepaid expenses | (13,941) | 285,237 |
| Accounts payable and accrued liabilities | (2,160,778) | 137,135 |
| Accrued compensated absences | - | (259,037) |
| Other Liabilities | (901,223) | 38,331 |
| Deferred revenue | (421,383) | 235,730 |
| Net cash from operating activities | (3,977,513) | (3,719,439) |