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Statement of Cash Flows

CASH FLOWS FROM OPERATING ACTIVITIES
  For the year ended June 30, 2018 For the year ended June 30, 2017
Payments to or on behalf of the University departments ($6,796,317) ($5,975,937)
Payments to employees ($1,490,854) ($1,392,727)
Payments to students ($3,834,334) ($3,775,487)
Other receipts $839,188 $504,853
        Net Cash Used In Operating Activities ($11,282,317) ($12,249,271)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
  For the year ended June 30, 2018 For the year ended June 30, 2017
Gifts received for other than capital purposes $9,829,610 $9,927,751
        Net Cash Provided By Noncapital Financing Activities $9,829,610 $9,927,751
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, 2018 For the year ended June 30, 2017
Proceeds from sales and maturities of investments $17,034,325 $4,293,677
Investment income, net $890,964 $951,779
Endowment income, net $5,312,792 $6,589,203
Additions to permanent endowments $8,794,111 $6,537,605
Purchase of investments ($26,630,562) ($17,126,081)
        Net Cash Provided By Financing Activities $5,401,630 $1,246,183
NET CHANGE IN CASH AND CASH EQUIVALENTS
  For the year ended June 30, 2018 For the year ended June 30, 2017
Net Change In Cash And Cash Equivalents $3,948,923 ($1,075,337)
CASH TRANSFER FROM CSULB RESEARCH FOUNDATION
  For the year ended June 30, 2018 For the year ended June 30, 2017
Cash Transfer From CSULB Research Foundation $654,816 1,365,743
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
  For the year ended June 30, 2018 For the year ended June 30, 2017
Cash And Cash Equivalents at Beginning Of Year $2,295,369 $2,004,963
CASH AND CASH EQUIVALENTS AT END OF YEAR
  For the year ended June 30, 2018 For the year ended June 30, 2017
Cash And Cash Equivalents At End Of Year $6,899,108 $2,295,369
RECONCILIATION OF OPERATING LOSS TO NET CASH FROM OPERATING ACTIVITIES
  For the year ended June 30, 2018 For the year ended June 30, 2017
Operating loss ($11,161,772) ($12,539,570)
Change in assets and liabilities: Restricted cash - $181,237
                                                       Accounts receivable, net ($33,507) $29,861
                                                       Prepaid expenses and other assets ($47,312) $53,023
                                                       Accounts payable $55,967 ($10,152)
                                                       Other liabilities ($95,693) $36,330
                                                               Net Cash Used In Operating Activities ($11,282,317) ($12,249,271)

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.