KENTUCKY STATE UNIVERSITY
Statements of Cash Flows, continued
Years ended June 30, 2014 and 2013
| Reconciliation of net operating loss to net cash from operating activities | 2014 | 2013 |
|---|
| Operating loss | $(34,970,929) | $(31,367,576) |
|---|
| Adjustments to reconcile operating loss to net cash from operating activities: | | |
|---|
| Depreciation expense | 4,459,941 | 4,511,068 |
|---|
| Bad debt expense | 4,038,728 | 1,637,173 |
|---|
| Changes in assets and liabilities: | | |
|---|
| Receivables, net | (1,495,980) | (39,795) |
|---|
| Inventory and other current assets | 380,677 | (307,373) |
|---|
| Accounts payable and accrued liabilities | 111,228 | (990,898) |
|---|
| Accrued compensated absences | (76,201) | (96,819) |
|---|
| Other liabilities | (428,378) | (58,900) |
|---|
| Unearned revenue | 19,250 | (931,256) |
|---|
| Net cash from operating activities | $(27,961,664) | $(27,644,376) |
|---|
| Supplemental disclosure of noncash investing and financing activities: | | |
|---|
| Purchase of police vehicles with capital lease | $101,204 | $- |
|---|