| Reconciliation of net operating loss to net cash from operating activities | |
|---|---|
| Operating loss | $ (35,746,406) |
| Adjustments to reconcile operating loss to net cash from operating activities: | |
| Depreciation expense | 3,876,677 |
| Changes in assets and liabilities: | |
| Receivables, net | (1,542,839) |
| Collection of loans issued to students | 114,550 |
| Accounts payable and accrued liabilities | 3,143,314 |
| Unearned revenue | 23,293 |
| Deposits | 34,376 |
| Deferred outflows – pension and OPEB | (690,833) |
| Deferred inflows – pension and OPEB | 9,728,278 |
| Net pension liability | (18,838,058) |
| Net OPEB liability | (1,099,032) |
| Net cash from operating activities | $ (40,996,680) |
20.