June 30, 2016
In addition to the Primary Mission expenses of the University, there are expenses from depreciation and operations & maintenance that are allocated to the various functional classifications (See note 12 – Schedule of Expenses by Program). See below for the operating expenses categorized into the Functional Expenses of the University. (Percentages below include depreciation and operations/maintenance allocations.)
Fiscal Year 2016 Functional Expenses as a % of Total Operating Expenses
The University continued to invest in student aid and support services to provide students with opportunities to be successful in fiscal 2016. For the year ended June 30, 2016, student aid expenses totaled $6.0 million and scholarship allowances totaled $5.2 million.
The University had an overall decrease in institutional support of $760,000, which was consistent with the overall expenditure reduction university wide. The large expenditures in the primary areas of instruction, research and student services, in conjunction with minimal increases to fixed cost areas, confirms the University resource allocations are clearly aligned with the University's strategic priorities to support academic and student excellence.
The net loss from operations for the year amounted to $29.6 million. Non-operating revenues, net of expenses, amounted to $26.6 million, resulting in a decrease in income before other revenues, expenses, gains or loss of $3.1 million for the year. Non-operating revenues include state appropriations of $23.4 million and non-operating federal grants and contracts of $3.8 million.