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Statement of Cash Flows

CASH FLOWS FROM OPERATING ACTIVITIES
  For the year ended June 30, 2017 For the year ended June 30, 2016
Payments to or on behalf of the University departments ($5,975,937) ($4,366,403)
Payments to employees ($1,392,727) ($1,326,952)
Payments to students ($5,385,460) ($3,775,487)
Other receipts $504,853 ($130,913)
        Net Cash Used In Operating Activities ($12,249,271) ($9,599,755)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
  For the year ended June 30, 2017 For the year ended June 30, 2016
Gifts received for other than capital purposes $9,927,751 $8,903,545
        Net Cash Provided By Noncapital Financing Activities $9,927,751 $8,903,545
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
       Net Cash used in Capital and Related Financing Activities - -
CASH FLOWS FROM INVESTING ACTIVITIES
  For the year ended June 30, 2017 For the year ended June 30, 2016
Proceeds from sales and maturities of investments $4,293,677 $2,389,966
Investment income (loss), net $951,779 ($92,624)
Endowment income (loss), net $6,589,203 ($397,406)
Additions to permanent endowments $6,537,605 $2,346,862
Purchase of investments ($17,126,081) ($2,658,911)
        Net Cash Provided By Financing Activities $1,246,183 $1,587,887
NET CHANGE IN CASH AND CASH EQUIVALENTS
  For the year ended June 30, 2017 For the year ended June 30, 2016
Net Change In Cash And Cash Equivalents ($1,075,337) $891,677
CASH TRANSFER FROM CSULB RESEARCH FOUNDATION
  For the year ended June 30, 2017 For the year ended June 30, 2016
Cash Transfer From CSULB Research Foundation $1,365,743 -
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
  For the year ended June 30, 2017 For the year ended June 30, 2016
Cash And Cash Equivalents at Beginning Of Year $2,004,963 $1,113,286
CASH AND CASH EQUIVALENTS AT END OF YEAR
  For the year ended June 30, 2017 For the year ended June 30, 2016
Cash And Cash Equivalents At End Of Year $2,295,369 $2,004,963
RECONCILIATION OF OPERATING LOSS TO NET CASH FROM OPERATING ACTIVITIES
  For the year ended June 30, 2017 For the year ended June 30, 2016
Operating loss ($12,539,570) ($9,021,569)
Change in assets and liabilities: Restricted cash $181,237 ($181,237)
                                                       Accounts receivable, net $29,861 ($1,736)
                                                       Prepaid expenses and other assets $53,023 $14,043
                                                       Accounts payable ($10,152) $68,801
                                                       Other liabilities $36,330 ($478,057)
                                                               Net Cash Used In Operating Activities ($12,249,271) ($9,599,755)

The above financial statements were audited by Windes, Inc. The full set of audited financial statements is available upon request. The accompanying notes are an integral part of these financial statements.