June 30, 2015 Condensed Statement of Cash Flows
| 2015 | 2014 | |
| Cash (used) provided by: | ||
| Operating activities | $(23,099,893) | $(27,961,664) |
| Non-capital financing activities | 28,457,420 | 29,557,829 |
| Capital and related financing activities | (1,911,723) | (3,026,755) |
| Investment activities | - | (101,431) |
| Net increase (decrease) in cash | 3,445,804 | (1,532,021) |
| Cash and cash equivalents, beginning year | 19,575,963 | 21,107,984 |
| Cash and cash equivalents, end of year | $23,021,767 | $19,575,963 |
Major sources of cash received from operating activities are student tuition and fees of $13.1 million and grants and contracts of $18.8 million. Major uses of cash for operating activities were payments to employees for salaries and benefits of $35.4 million and to vendors and contractors of $19.3 million.
Noncapital financing activities included state appropriations from the Commonwealth of Kentucky of $23.4 million.
Capital and related financing activities include purchases and payments of $1.9 million expended for construction and acquisition of capital assets and for principal and interest payments on the retirement of the University's bonds and other capital related debt.
State appropriations represent approximately 36.8% of all operating and non-operating revenues. The level of state support is a key factor influencing the University's overall financial condition. State appropriation is unrestricted to revenue and is included as non-operating revenue. State appropriation is used to support payroll and benefits for University employees.
The following details the net Commonwealth appropriations received by the University for fiscal years ending June 30, 2015, 2014 and 2013.
| 2015 | 2014 | 2013 | |
| Commonwealth appropriations | $ 23,429,600 | $ 23,537,400 | $ 23,537,402 |
| Federal appropriations | 6,665,512 | 6,722,332 | 6,873,169 |
| Total appropriations | $ 30,095,112 | $ 30,259,732 | $ 30,410,571 |